3dartist
New Member
Hey guys,
I'm new here and just wanted to introduce myself. I'm 27 years old, born and raised in t-dot in the corso italia area. Unfortunately these days I live in a communal gathering called London, ON. (start laughing)
I've always been interested real estate (and investing into it especially these days) and have been reading some very insightful postings to several pre-construction threads for the past few days. I've been contemplating dumping my money into pre-construction condo(s) rather than the stock market these days. I've been personally entering every condo presentation in the downtown core and researching everything I can.
And.. in conclusion:
The only ones profiting in the black are those who picked up condos 5-10 years ago, and the rest of the people are flocking in hopes to do the same, but profit margins are deteriorating and it's just not a reality. The reality to me, feels that the market has hit a tipping point, most condos are picked up by investors basically skimming the top and HOPING for a saturated market to further grow in the next 5 years. It feels like lots of investors ran too late to the ringing of a gold rush.
I am pulling back more and more from the idea of condo investing and will look into homes, or vacant land outside of the city, something around the Grimsby area.
I think the real estate areas to make some serious cash is not in Canada, but the US. I bought a lot of cash when the Cdn dollar was above $1. I just may do that.
Thoughts on my thoughts?
I'm new here and just wanted to introduce myself. I'm 27 years old, born and raised in t-dot in the corso italia area. Unfortunately these days I live in a communal gathering called London, ON. (start laughing)
I've always been interested real estate (and investing into it especially these days) and have been reading some very insightful postings to several pre-construction threads for the past few days. I've been contemplating dumping my money into pre-construction condo(s) rather than the stock market these days. I've been personally entering every condo presentation in the downtown core and researching everything I can.
And.. in conclusion:
The only ones profiting in the black are those who picked up condos 5-10 years ago, and the rest of the people are flocking in hopes to do the same, but profit margins are deteriorating and it's just not a reality. The reality to me, feels that the market has hit a tipping point, most condos are picked up by investors basically skimming the top and HOPING for a saturated market to further grow in the next 5 years. It feels like lots of investors ran too late to the ringing of a gold rush.
I am pulling back more and more from the idea of condo investing and will look into homes, or vacant land outside of the city, something around the Grimsby area.
I think the real estate areas to make some serious cash is not in Canada, but the US. I bought a lot of cash when the Cdn dollar was above $1. I just may do that.
Thoughts on my thoughts?