Investing in condos is a tricky business. Here’s why.
In 2006, I bought my first condo, rented it out to awesome medical residences and sold it in 2011 for an awesome return (>300% ROI). This got me thinking, could I repeat the same experience investing in condos?
In 2012, I invested in 2 other condos, thinking I bought them at a discount but in reality, I got a little burned and just surviving holding these condos. They are breaking even and I don’t plan on making any money when I sell these condos. They have been my worst investments to date.
I’ve owned 6 condos during my investing journey, some good, some decent and the last two, downright ugly. I feel compelled to share this video. I really want to share my lessons learned to help you shorten your learning curve!
If you ever considered:
– Buying a condo as your principle place of residence;
– Investing in a condo to supplement your pension or for your kids education;
– Flipping a condo; or
– Investing a condo to add to your real estate portfolio as future rental income…
Then you must watch this video! I want to help you save money and build your contingency plan before you pull the trigger investing in condos.
If you bought a new condo recently or completed extensive renovations, you can get up to $30,000 back in HST. I received $22,000 back on my last condo! Click here to find out more.
Here’s a video on how it works:
Now, back to you!
Have you ever bought a condo as a real estate investment and how did it go?
And don’t be shy, leave your comments below. I’m here to empower, guide and encourage you to reach your financial nirvana.