Station Park | 18, 28, 36, 40, 50 fl | U/C

[Rainrider22]

Having crunched the numbers on a few in the past, I think they're poor investments from the get-go with any honest estimates of vacancy and maintenance. I've seen units being sold for prices whereby the owners would essentially be subsidizing their tenants' housing.

Indeed. At the moment the best-case scenario is pretty close to a break-even on operating expenses vs rental income, and you are completely dependent on property appreciation for your investment. In the meantime, you need to find tenants and manage your property (or pay someone else to do it).

I'd rather invest my money in REIT. Or Canadian bank stocks, for that matter.

I have been investing in Condo's for rent for the past five years.  I agree at best, they are cash neutral right now.  However, you guys are missing a very important factor, it isnt just how much the property appreciates, you have someone else paying for your investment.  Every year that goes by is more equity I have built up, opening more room to purchase more.....   If I said here is 100 stocks, it is worth $100 000.  you give me $20 000 now and I will pay the remaining 80 000 plus interest while you sit back and watch the stock appreciate, even if it is slowly, you wouldn't take that investment ???.  Oh, did I mention the whole tax write off component too ?   So when you say you "crunch the numbers"  make sure you take the whole picture into account.  If it is a bad investment then why are so many people doing ?