Help with Office Condo Purchase

[Sandie8501]

Good morning;

I'm an NEW REIN member and I have an opportunity to purchase an "Office Condo" for investment.

I really want to work the "numbers" and I'm not clear on how to do this. I have started the Property Analyzer however I want to know where I can find out the going rental rates in my area (Richmond Hill Ontario.)

Any help would be greatly appreciated.

 

[Thomas Beyer]

High risk of vacancies. Higher mortgage costs. Higher property taxes. Hard to get a mortgage over 70% LTV.

Ensure this makes sense compared to a residential project.

The person selling those condos is probably the main winner here.

Why not buy a small house, a house with a basement suite or a TH instead ?