Are Condos a Good Investment? My Results May Surprise You..

#condoinvesting #ottawacondos #condoinvestment
Have you ever wondered if a Condo is a good investment. I share my results, how much money I made from one preconstruction condo, how much time was involved and most importantly, what you need to know and ask yourself before investing in condos.

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DISCLAIMER:
This video is for entertainment purposes ONLY.
I am not a financial advisor. You (and only you) are responsible for the financial decisions that you make.

[BrianJordan-jkdo]

Thank you for another terrific video.
I have been a condo investor in downtown Toronto for 30 years. I agree with the points that you made in your video and would add a few other negative aspects:
- The Landlord Tenant Board regulations and policies in Ontario heavily favor tenants.
- The amount of time involved with tenant issues, repairs, building management, and leasing the property is excessive. It's like having a part-time job in some cases the owner is compensated by negative cash flow.
- The stress of dealing with many issues. (I noticed your higher level of anxiety in this video when compared to some of your other videos). lol
- The paperwork and receipts to file income tax.
- For most properties, the government controls how much the investor can increase the annual rent.
Thankfully I have done fairly well financially, established some contacts, and gained some experience over the past 30 years but it has taken a considerable amount time, effort and sacrifice. I have been selling off my condos and investing my money elsewhere. If I chose to invest in real estate I would select REITs instead - BTW, thanks for your tip on the Smart Center REIT. All the best.

[jameswhite]

I understand and I appreciate you sharing your personal experiences.
I hope that you continue to prosper in the manner of which you're accustomed. I believe that you will.
Good luck.

[DudeItsJag]

Glad I came across this video. There's a condo in the same building I was interested in.

[zzguy]

This is literally the worse experience I've heard with condos. Mostnof them are easy to manage and make good money.

[kctlh]

This was extremely helpful, thanks! Gave me a ton of ideas on question to ask before considering a condo

[_mr_choice]

Would you recommend a one bedroom condo or two bedroom. Which one realy goes quickly?

[cb]

The condo fees are a killer. So hard to find cash flow + condos in the GTA

[jamesduncan]

When you say a starter home is not a condo in Ottawa - I agree. I do think that will change over time as SFH become more and more expensive and this will give a boost to condos.

[alvinlee]

Thanks for your open and candid analysis on the weaknesses of investment in condos!👍🏻💪🏼

[travelthis]

Glad I found your channel. Ottawa here too 🤟 definitely helps me make a more informed decision

[deseancarter]

Thanks for the great content and info.
You got yourself a new sub

[wiyin]

Super helpful video. I was just asking this question today and you helped answer it!

[drewlyons]

Thanks for sharing! Very appreciative to hear the ins and outs of condo investing and to be able to learn from your experience!

[MythicRealTrap]

5 years of headache just for $900

Just invest in crypto or stocks 😂

[pierre-yvesmclaughlin]

As a condo owner of a unit as an investment in Ottawa this was very helpful! Is this the dow's lake Soho?

[yesxplain]

Stocks over realestate right now because housing too pricey now

[integra]

I made money in real estate but I realize that stock market investing is much more lucrative

[jonewing]

Hi Tracy, very good video. Less hand waving would make the video even more enjoyable. Or maybe it is just me getting a bit dizzy :-)

Is that an engineer ring I see?

[ricklee]

Appreciate your videos can you please do a video on which Canadian banks to invest in. Thank you

[charronfamilyconnect]

My buddy purchased an older building condo on Chapel street about 8 years ago. The condo fees were only around $250 monthly when he bought it, but they crept up to $800 monthly in 8 years even though the condo fees were more stable in the period preceding his purchase. Now he cannot even sell the condo for anything close to the price he expected. These condo fees are killing the attractiveness of apartment. Sorry for being negative, but I will never buy a condo with all these bad experiences with both new and older condos.You have no control over the management of the property and the reserve funds. Better to go with freehold.