Noob question on Pre Construction / Projects

[CN Tower]

Buy at Yonge & Eglinton or in Yorkville. Chances are you will only lose your deposit and nothing more. Multi-level marketing scheme. Google it.

 

[CN Tower]

have you run the numbers to see if the rental unit will have positive cashflow in case you can't flip.

Impossible.

 

[AKS]

Buy at Yonge & Eglinton or in Yorkville. Chances are you will only lose your deposit and nothing more. Multi-level marketing scheme. Google it.

I don't think Yonge and Eglinton is gonna get any cheer. Berwick was selling at starting price of $550 psf. I think Yorkville is going for over $800 psf. Maybe even $1000 psf. For 250k, maybe a bachelor at Y&E, impossible for Yorkville. But will Y&E sustain prices over $600 psf by condo closing?

 

[CN Tower]

I don't think Yonge and Eglinton is gonna get any cheer. Berwick was selling at starting price of $550 psf. I think Yorkville is going for over $800 psf. Maybe even $1000 psf. For 250k, maybe a bachelor at Y&E, impossible for Yorkville. But will Y&E sustain prices over $600 psf by condo closing?

Probably not. Noob is mostly likely going to lose money on his misguided speculative gamble but hey, he asked!

 

[cdr108]

wow, so much risk.

By the way i think the realtor wanted me to purchase
something small for the first one maybe around 250k and maybe 400k for the
second one, but maybe I should just buy one and keep my money.

he wanted one to finish in 3 years and the other one to take longer so we have time to
flip it in between...

i am meeting him tomorrow to hear more, but now i AM worried about he situation.
so I would have to make at least 10% to break even... that's not nice..

so this guy is going to make 4% from sales and in 3~4 years time another 5% for selling my property
and if I dont make more than 10% out of this, I am just going to be losing money.

cdr108 are you a realtor?
*by the way my company is paying for my rent and it's secure job

nhincompoop/
i think we got cooling off period so i could do the research after signing, am I right?

no, i'm not a realtor.
just have an interest in R/E and design, started about 15 years ago.
but i also read up on historical data, trends, etc.

i don't agree with the realtor recommending the small ($250K) unit, then the larger $400K one.
as others have noted, $250K will probably get you a small 400-450sf bachelor/1 bed unit.
from my experience and listening to others, a well laid out 1b+d of 650-700sf where the den is actually usable (possible as another bedroom) would probably be the best bet.

if you're not living in the unit then capital gains will be fully taxable.