A better wayTo buy a rental property. Wall Financial. No negative cash flow and easy to sell when needed.
Also tends to pay a nice dividend. Waiting for my rent.
I have NO debt.
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Richardson
Condo investors in the GTA are feeling the cash crunch, losing an average of $597 a month in 2023. According to a report by Urbanation with CIBC economics, 77% of investors of newly completed condos who closed on a mortgage last year were cash flow negative in 2023, up from 52% in 2022. The picture worsened this year with 81% of leveraged investors losing money based on the first half-year results. This has led some investors to try and find an exit, however as the number of sellers grows, worries of narrowing profit margins grow with it. As of June, listings rose to a record, while prices declined 12% from their peak reached about two years ago. While the Bank of Canada’s latest interest rate cuts should help ease the pressure, investors may continue to feel the strain as the economic conditions for condo investors remain challenging.