02-06-2022, 09:51 PM
(02-06-2022, 02:38 PM)CP42 Wrote: It is very difficult to be cash flow positive with a condo in the area.
The exception being if you purchased several years ago (e.g. Charlie West sales in 2017-2018) and are just now beginning to pay your mortgage and collect rent which has significantly increased since the time of purchase.
Very difficult with a new-build condo. More doable with a somewhat older building. Even Garment St has a 700 sqft unit for sale for $420K. Much easier to rent a 700 sqft 1BR unit than a 400 sqft one.
So many people think that buying and renting out a condo is a guaranteed lottery ticket, though.