Saw an ad for a new condo development in Vancouver called 2300 Kingsway. They are marketing as great for investors with the usual "Have someone else pay your mortgage"...
Price starts in the 300s for a ~400 sq foot place that they "estimate" can rent for $850.
Using a 2% mortgage rate it would still require a down payment of over 100k...
After accounting for vacancy, property tax, etc...this seems like an extremely bad deal for investors.
Essentially, you`d be leveraging your dp for almost no return at all....
All this for an East Vancouver condo...
Is this a sign that Vancouver will inevitably end bad for lots of novice investors....?
Price starts in the 300s for a ~400 sq foot place that they "estimate" can rent for $850.
Using a 2% mortgage rate it would still require a down payment of over 100k...
After accounting for vacancy, property tax, etc...this seems like an extremely bad deal for investors.
Essentially, you`d be leveraging your dp for almost no return at all....
All this for an East Vancouver condo...
Is this a sign that Vancouver will inevitably end bad for lots of novice investors....?