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SignUp Now!... others balls to the wall buying anything they can get their hands on. ..
Well said! I doubt there are very many stories out there that mirror yours, and have heard of many folks being ripped to shreds investing south of the border.
...others balls to the wall buying anything they can get their hands on. At what point are you at right now?
Well done and good choice! My projects in Edmonton are down, but it's no worse than 2011. You get ahead by ignoring the naysayers and chicken littles out there and buy where it makes sense to you.
Didn't Warren Buffett say: "Be fearful when others are greedy and greedy when others are fearful".
Whats the purpose of your post dude?
Tough too possible to do on any healthy Canadian City. Only in rough parts of certain US cities, smaller US cities or remote northern Canadian towns.
Or perhaps levered with double the mortgages ie $2-2.5M in assets with 500-700,000 in cash.
Most gross yields on houses are 4-7% in Canada, for example a house I am buying in Kamloops for 430,000 is $2200 or so a month or 5% or on Penticton where a 1/2 duplex for $305,000 is about $1600.
Not in large healthy Canadian cities. In some smaller far more risky communities with ex-migration or large dependency on a resource play: yes.As real estate books recommend 10% gross yields, is it possible to get such numbers in Canada, especially nowadays?
The last two I bought in Saskatoon were:
34,200 / 323,000 = 10.6% (4yrs ago)
And
36,600 / 360,000 = 10% (this month)
Traditional rental. Non furnished. Suited houses with detached garages rented separately
Good for you. Here in GTA it's less then 10% , more like Thomas numbers.
Is it a single family or duplex/triplex?