I heard more and more Phoenix condos in USA is a good investment. Should I buy the condo in development or an existing condo?. Any idea about prices, areas, rentability, mortgage for Canadians?
QUOTE (Rickson9 @ Nov 28 2010, 01:15 PM) $520 p sq ft is for condos 10 years old from my perspective as an owner and seller of condos on Yonge.
With re: good investment. Only speaking for myself, if I were to spend $300k I would need to receive at least $60k in gross rent per year. Otherwise...
QUOTE (invst4profit @ Nov 28 2010, 04:37 PM) $60,000/year would of course be an excellent return on a condo in T.O. but the fact is condos are generally a poor investment as a income property in Toronto.
As a minimum you need $2500 per month rental income on a $300,000 investment and that is a...
QUOTE (bizaro86 @ Nov 26 2010, 10:14 PM) I would carefully consider the time frame of your investment. If you feel that the performance of market prices in the next 6 months is key, real estate might not be the type of investment for you, as it`s very illiquid and switching costs are high. If...
QUOTE (NeilUttamsingh @ Nov 26 2010, 03:36 PM) Faboboren,
Yonge Street is a long street.
Which areas on Yonge are you refering to?
The Yonge and 401 area has been on fire in recent years.
Brian Persaud would be the man to talk to about this.
Best Regards,
Neil.
Let`s say Yonge and...
QUOTE (Rickson9 @ Nov 26 2010, 03:04 PM) Speaking for myself I don`t think condos on Yonge St. in Toronto are good investments.
In my opinion, with regards to predicting the future of prices - I don`t know, and neither does anybody else.
Prices on Yonge St. are around $520 a sq ft or higher...
I wonder how do you see the condo prices in Yonge area- Toronto in next 6 months decline or going up? How much per foot should be an existing condo vs . new one? how much should be the downpayment to leverage the investment? how many rooms is the most interesting investment? Fix or variable rate?
