Pre-Sales

by Sean
(Vancouver)

Hi there,

What are your thoughts for pre-sale condos as a long term investment?

Comments for Pre-Sales

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Oct 09, 2013
RE: Pre-Sales
by: Tom Karadza

Thanks for the question and it's a tough one.

Without knowing where and what type etc. it's difficult to answer.

However, in general, if your long term means 10 years or longer then they're likely going to be pretty good. If it's shorter than that you run the risk of trying to sell during a downturn or when the price could possibly be lower than you paid (think 1989 to 1999 in Toronto).

And it would have to cash flow. If I have to sink money into it each month b/c the rent does not cover my costs... then I don't generally like it.

Tom

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