Quote:
Originally Posted by unit
i dont think at current prices you can make fuck all on an investment condo. after strata and prop tax you would have negative cashflow
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Might that still be worth it in the long run though, if you just think of it like any other investment? Say you get a 500k condo with 100k down and it costs you 100/mo over what it's making, after 25 years it's paid off so you can sell it for 500k. Safely investing 100k @ 5% and adding 100/mo lands you at ~400k after the same time.
That's ignoring any equity increase too. It's a gamble but it seems like the lower mainland and the Okanagan are unlikely to stop going up. I'd love to see evidence to the contrary to quell my FOMO though lol.