Lots of information has been published for those who wish to buy a new condo (known as a strata in BC) as a principal residence. With regard to investing in condos, there is an unfortunate perception that it is all about lining up to buy pre-construction units in a "hot neighbourhood" and flip them. Of course, people ignore market conditions and fundamentals, and get caught up in a kind of mass hysteria for which they will often pay a price down the road.
Condos represent a solid return on investment when purchased according to a strategy, by sticking to fundamentals, by carrying out proper due diligence, and by having an exit plan. The purchase of pre-construction condominiums is just as relevant in a real estate portfolio as owning freehold property. As well, benefits from the vantage point of tax and estate planning can also be realized. Until now, there has not been a comprehensive treatment of how to invest properly in pre-construction high-rise condos.
This book will give investors the nuts and bolts of undertaking such an investment. They will have the knowledge to proceed in a methodical way, with confidence, knowing they are asking the right questions, doing the math, and assembling the right team of experts.Praise for INVESTING IN CONDOMINIUMS
"I teach people how to create a millionaire mind. This book is a perfect addition to teach you how wealthy real estate investors invest in condominiums, and the critical secrets to know before putting a dime in real estate."
—T. Harv Eker
, author of #1 NY Times Bestseller Secrets of the Millionaire Mind
"A tried-and-true strategy that teaches buyers how to safely purchase condominiums by conducting deep due diligence and market research to ensure the fundamentals and building financials are strong and sustainable. Brian Persaud and Randy Ramadhin show you exactly how to do your homework in a market that is often more emotional than it needs to be."
—Don R. Campbell
, author of the bestselling Real Estate Investing in Canada 2.0
and Secrets of the Canadian Real Estate Cycle
"You must read this book to understand what wealthy real estate investors are looking at investing in condominiums. Brian and Randy have developed a very comprehensive book on factors that you should consider before putting a dime in real estate."
, New York Times
best-selling author of How Come that Idiot''s Rich and I''m Not?
"This book provides you with in-depth knowledge about purchasing a condo as an investment. From market economics to a builder''s reputation, and the financial and legal aspects of buying a condo, there is no better source of unbiased information to assist with your buying decision."
, Investor and Host and Producer of Income Property