just1time
New Member
Am a young dude....relatively speaking that is. 2 yrs away from 30.
long term goal is to own nice investments across the city... preferably a positive income generating rental complex.
Bought a townhouse in North York (weston/sheppard) last year before construction for $340k. Only $20k down. Upon completion 6 months ago, I put 20% down at closing to avoid chmc fees. Requested a list of sold units in the same complex from my agent friend. My model are selling for $420k-$440k.
Have a tenant there now(friend of mine). He does not even have furniture there and uses it as a guest house....wealthy dude. been renting it since completed.
I currently have 2 properties besides the one being discussed: 1 condo townhouse i live in and a pre-construction condo due for completion in early 2015.
My thought is the prices of the townhouses cannot go higher than what they are right now for another 5-10years and as such I should sell it and invest the profit in other pre-constructions that I have interest in.
What do you think? hold on to it or cash out?
Thanks
olddog
long term goal is to own nice investments across the city... preferably a positive income generating rental complex.
Bought a townhouse in North York (weston/sheppard) last year before construction for $340k. Only $20k down. Upon completion 6 months ago, I put 20% down at closing to avoid chmc fees. Requested a list of sold units in the same complex from my agent friend. My model are selling for $420k-$440k.
Have a tenant there now(friend of mine). He does not even have furniture there and uses it as a guest house....wealthy dude. been renting it since completed.
I currently have 2 properties besides the one being discussed: 1 condo townhouse i live in and a pre-construction condo due for completion in early 2015.
My thought is the prices of the townhouses cannot go higher than what they are right now for another 5-10years and as such I should sell it and invest the profit in other pre-constructions that I have interest in.
What do you think? hold on to it or cash out?
Thanks
olddog