Many New Toronto Condo Investors Losing Money As Rents Drop: Report

[Charlemagne]

Units in some newly-built towers are losing up to $600 a month.

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[addictedone]

Boohoo. Them the risks. Good on them. Jump.

 

[Brolaf]

I own investment property but didn't go for condos because the valuations never made sense to me after crunching the numbers. Even pre-COVID many condo investors were operating at a negative cash flow and banking on price appreciation to make up for it.

 

[Nesbot]

 

[TeeJay]

You mean investors who have realtors as friends who pre-buy a bunch of units to drive scarcity up?
Yeah not exactly crying here either
Like Brolaf mentioned above many of these condos were seriously overpriced and investors wanted to milk the system until value went up enough to sell