Looking for preconstruction deals in Ontario

[Michellene F.]

Hi everyone,

Happy new year!

I’m looking for preconstruction opportunities with an assignment for my first protect. Townhouses or condos within 500,000 is my range .

Please reach out to me if you know of any .

Thank you

[David Steinbok]

I bought 2 condos pre construction from a builder I worked for when I first started out in real estate investing. My money was tied up for a few years. There were so many other investors renting out units for less than what i had projected my rents to be. I ended up being cash flow negative about 600$ each for about a year. Finally another investor helped me see the error of my ways, and i sold them. But there were 70, one bedroom units for sale at the same time I was selling. So I didnt get too many offers. I learned very quickly that sfh, are way better investments. 

People are leaving toronto for the suburbs. The condo market is flooded with units, there are 150 cranes in toronto at the moment building more. I've never been busier in the 20 years I've been in construction.  But the units are empty and rents are going down.