Is it still a good time to yolo GTA investment properties (condos)?

Also why are cash flows for condos so shit?

800k purchase price condo rents for like 2300 minus 500 maint fee so 1800

My 1.1m townhouse rents for 3k and no fee for maint. The main big ticket items covered by maint fee are windows and roof, which definitely isn’t 6k per year lol

lolbeast wrote: ↑ Also why are cash flows for condos so shit?

800k purchase price condo rents for like 2300 minus 500 maint fee so 1800

My 1.1m townhouse rents for 3k and no fee for maint. The main big ticket items covered by maint fee are windows and roof, which definitely isn’t 6k per year lol

To me, condos are easier to find tenants, no roof, no windows maintenance.

Opportunities are getting harder to find for sure. Could be a totally different market 2-3 months from now, but I am still long term bullish on DT.

I would rather invest in a SFH like a town vs a condo. Less expenses like condo fees that skyrocket every year which eat in your cash flow, and the pool of applications/tenants for condos in Toronto and GTA is a dirty cesspool (with SFH, you typically have families who stay for a while, lower turnover rate also). Took me 2 mths to find a good tenant last summer for my condo.

lolbeast wrote: ↑ Also why are cash flows for condos so shit?

800k purchase price condo rents for like 2300 minus 500 maint fee so 1800

My 1.1m townhouse rents for 3k and no fee for maint. The main big ticket items covered by maint fee are windows and roof, which definitely isn’t 6k per year lol

High maintenance fees and property taxes ruin the cash flow (if you're putting 20% or less down).
If you don't care about cash flow positive, they are still good because they are very low maintenance and very easy to find a tenant for.

Condos are the ETF equivalent of the real estate market. High fees but set it and forget it. Never hear from tenants. Commodity product so there's always a liquid market for them.

If you want to get your hands dirty and don't mind a little bit more work, SFH will get you higher returns. Higher barrier to entry (down payment), tenant pool is quite different (especially if you do main floor & basement separately), and maintenance work of course.

Those sound worthwhile, basically walking distance to subway line (not most of the Vaughan condos). Elsewhere..... probably not so much (IMO)

lolbeast wrote: ↑ Looking into North York or Downtown condos. Lean towards North York just because I like the area a bit more and I think the same units rent for similar amounts as downtown but purchase price is a bit cheaper.

Tech stonks have tanked and rates are increasing. Lots of uncertainty in markets.

Is it still a good time to buy condos? This will probably be a long term HODL (5-10 years+)