Unique Hamilton Opportunity?

[AndyLuchies]

Any Hamilton investors had a look at

hamiltongrand.ca ?

opportunity to buy luxury condos to participate in a communal rental pool/hotel.

I was reading over the stuff, sounds interesting, would love to hear others comments on it...

This seems to mirror what Donald Trump did in New York, only this appears to be one of the first of its kind in Hamilton. Opportunity of a lifetime or mediocre investment? Let me know what you think.

 

[BrianPersaud]

QUOTE (jessandy @ Jun 7 2009, 09:14 PM) Any Hamilton investors had a look at

hamiltongrand.ca ?

opportunity to buy luxury condos to participate in a communal rental pool/hotel.

I was reading over the stuff, sounds interesting, would love to hear others comments on it...

This seems to mirror what Donald Trump did in New York, only this appears to be the FIRST of its kind in Hamilton, opportunity of a lifetime or mediocre investment? Let me know what you think.

Got to hand it to Harry Stinson. The guy doesn`t give up. Google him, interesting guy

 

[AndyLuchies]

does anyone see any major issues with their sample budget?

 

[john75]

I would google the project.

Here are a few things I heard of this project but not confirmed

The original location has been changed. There may be some environmental issues with new location .

ROI is way off
The present average occupancy numbers in Hamilton are a lot lower than they have on their ROI calculations\


This project was offered to a real estate club in Toronto a few months ago around $40 000 below what todays price is (30-50 unit were sold), some of them have asked for there money back.

Again, this is what I heard, I have not confirmed this.

 

[markl]

I agree with Brian Google Harry Stinson. Find out about the project at 1 King W in Toronto it was another of his projects. I do not think the investors are very happy with the project or the returns.

 

[housingrental]

LOL
Anyone else remember him (five years ago?) on late night tv informercial talking about the beauty and grander of the club (glamour of the 1930`s ballroom or something like that was it?) in the tower
And then a year or two later he started advetising in the national post trying to get loans from the public at 15% .

QUOTE (BrianPersaud @ Jun 7 2009, 09:15 PM) Got to hand it to Harry Stinson. The guy doesn`t give up. Google him, interesting guy

 

[housingrental]

I"m a bit blurry on this but if memory serves one of the major issues of the projects downfall as ALL condo`s got (unexpectedly) classified as hotel units and were hit with double the property tax`s then they would have been at. (Correct or ? )

It actually seemed like a good place he made, you gotta feel bad for him.
I remember there was an article a year or two where he was quoted as he was done or something to that effect.




QUOTE (markl @ Jun 8 2009, 03:06 PM) I agree with Brian Google Harry Stinson. Find out about the project at 1 King W in Toronto it was another of his projects. I do not think the investors are very happy with the project or the returns.