Avoid This #1 Mistake When Buying A Property

Posted by neil on March 06, 2017
General / No Comments

Hi There,

I hope you are doing well.

As I am writing this article, I am thinking about to how long it has been since I have been helping people invest in real estate.

I think it has been about 12 years.

Over those years, I have talked to probably thousands of people, and have seen several hundreds of people actually pull the trigger and buy real estate.

I don’t keep the actual number of how many people I have helped, because I am not an egomaniac. ¬†ūüôā

 

What I do keep track of though is behavioural patterns of people…

On the whole, people generally act in similar ways.

People who take the leap and buy real estate behave in a somewhat similar way to each other.

Also, people who don’t by real estate generally behave in a similar way as well.

This of course is a tremendous generalization I am making, but hear me out.

Over the past serval years, I have noticed that people who DO NOT buy real estate are making one big mistake with their thinking process

The number one underlying mistake that they are making is:

 

Listening To Advice From Uneducated Sources…

Okay… so let me break this down and explain to you exactly what I mean.

  1. People who are interested in buying real estate, but don’t end up buying anything are afraid.
  2. I should also qualify this statement by saying that people who BUY real estate as well are also somewhat fearful.

The one major difference though between the people who buy real estate and those that do not, is that the ones that DO NOT, are tuned into the wrong radio station.  

What I mean by this is that they are listening to the wrong ‘frequency’. ¬†They are listening to the wrong ‘sources’, and they are listening to the wrong ‘people’.

So many times, I have heard people tell me….

“I don’t think buying a condo (or home) for investment is a good idea. ¬†I am going to get calls in the middle of the night from the tenant saying that they have broken the toilet, and that I need to come and fix it.”

Excuse me, WHAT?

Who the hell is telling people this?! (sorry that I swore…I am getting FIRED up.)

I mean, seriously.

You could make hundreds of thousands of dollars owing just one rental property in The Greater Toronto Area, and you wouldn’t do this because someone may call you regarding a broken toilet?

But wait… it gets better.

The people who are instilling fear into these would-be investors, are not people who own rental properties themselves, they are people with absolutely no experience investing in real estate whatsoever!

  • They have never had a tenant before.
  • They have never collected a rent cheque before.
  • They have limited to no experience in the world of real estate investing.
  • They ARE the worst possible person to listen to for advice. ¬†¬†

They are generally people who look at the glass as being “half empty.”

And then… they are projecting their concerns, fears, and worries about owning real estate onto those people that are interested in investing, and that are looking for guidance.

They tell them that now is not a good time to buy real estate, and that they should wait, and wait for the ‘bubble to burst’.¬†

 

“There Is No Bubble”

Okay… If you are from the Greater Toronto Area, there is something that you should realize sooner rather than later.

THERE.    IS.    NO.   BUBBLE.  

 

People talk circles around me when they try to tell me that there is a Bubble in the Greater Toronto Area (GTA) real estate market.

I can list for you major reasons why there is no bubble in the GTA market.  If I did here, this article would become the length of a small book and will probably become a New York Times Best Seller!

Seriously, if you think there is a bubble in the GTA real estate market and you believe this wholeheartedly, we could never be friends. ¬†ūüėČ

 

Let’s Re-Cap

Uneducated sources (ie: people), tell aspiring real estate owners (ie: other people interested in buying real estate).  That:

  • There is a real estate bubble that is going to burst
  • They should wait and not buy real estate now
  • If they buy a rental property, they are going to have to deal with tenants who are going to call them in the middle of the night regarding a ¬†toilet that they just broke. ¬†(Apparently this tenant will also want them to come to the rental property in the middle of the night to repair said toilet.)

 

Here Is The Reality…

The reality my friends is that the real estate market in the Greater Toronto area is going up at record levels.

The gains that the market is experiencing now, have never been seen before.

There are a number of factors that are causing this, but to simply put it, it is a ‘supply and demand’ issues.

People are coming from all over the world to live in the great country of Canada, and a large percentage of these people are settling in the GTA.

Now is the time to buy real estate here.  Not tomorrow.

The next chapter in this real estate saga will be the Chapter that talks about all of the hundreds of thousands of people that are priced out of the market, and who cannot afford buying a property.

That time is coming, and it is coming sooner than I thought it would.

My closing remarks are:

GET INTO THE REAL ESTATE MARKET NOW.

To your success!

Neil Uttamsingh

 

ps: I am a Real Estate Broker and a VIP Realtor.  I specialize in pre-construction projects and residential resale in the Greater Toronto Area.  I have access to over 100 new condo projects all over the GTA.  Sign up  to receive special builder DISCOUNTS and INCENTIVES that you cannot get from going direct.  To your success

pps: If you found this article helpful, you should probably read this one as well… ¬†How To Make Money Buying Pre-Construction Condos

ppps: Also, this one.. How To Make Money Buying Real Estate In Toronto

 

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How To Make Money Buying Real Estate In Toronto

Posted by neil on March 04, 2017
General / No Comments

Hi There,

I hope you are doing well.

Today I would like to talk about how you can make money buying real estate in Toronto.

More specifically, I am going to touch on how to make money in real estate by investing in the Greater Toronto Area.

For those of you that are familiar with the current state of the Toronto real estate market, the title of this article may appear to be the most useless title ever.

Useless as it seems that¬†“EVERYBODY AND THEIR MOTHER” is making a lot of money buying real estate in the Toronto Area now…

Is this true?

For the most part it s.

Is it true in all cases?

Definitely not.

I would like to share with you some important points to consider that will allow you to profit the most when you buy real estate in the Greater Toronto Area.

Before I begin, for those of you that are not familiar with what is happening currently in the Toronto Real Estate market, I recommend you do a Google search, or two, because Toronto and the surrounding areas is THE place to invest in real estate NOW!  To say that the real estate market here is on FIRE, would be an accurate statement.

 

#1) “Location, Location, Location”

 

So this is probably the most popular real estate term EVER.

Not only is “Location, Location, Location”, the most popular, it is the most important aspect of real estate.

The basic premise is that you should buy real estate in the absolute BEST location possible.

I can tell you from personal first hand experience, this is true.

You want to own in the best location possible… not the second best, or third best.

When you own real estate in the best location, you will receive all of the benefits that come with this.

 

The Benefits of Buying Real Estate In The Best Location

 

The benefits of buying real estate in the best location can include:

  • The highest property appreciation
  • The most desirable tenant profile
  • The best transportation and Infrastructure in the area
  • The quickest and highest property resale value
  • The best jobs and the best employers.
  • Safe neighbourhoods with low crime rates.

 

Buy The Correct Property Type

A fundamental strategy towards making sure that you make money buying real estate is to make sure you purchase the correct property type.

 

What does the “correct property type” mean, and how do you know how to find that?

 

The answer to this is a bit more complicated than understanding the basic term, “Location, Location, Location”.

In order to pick the best property type, you need to know 2 things:

A) How has the real estate market performed historically?

and

B) Which property type is having the biggest gains now?

 

If we look at the Toronto real estate market for example, we know that historically, detached homes and pre-construction condos have experienced BIG gains in value.

 

If I were to rank these 2 property types in the order in which you will experience the highest property appreciation, it would be

#1) Detached homes (Freehold)

#2) Pre-construction condos

 

If you have the capital to buy a detached home in the Greater Toronto Area… stop reading this now, and go buy one!!

By the time you finish reading this article, the value of the home you were interested in has probably gone up!

If you don’t know already, are you starting to get an idea of how HOT the Toronto real estate market is?

Property values are going up TENS AND HUNDREDS OF THOUSANDS of dollars in a matter of months, depending upon their location.

This may be unbelievable to comprehend if you are not from The Greater Toronto Area. ¬†However, ask any buyer that is currently trying to buy real estate in the Greater Toronto Area how their experience is going. ¬†They can tell you first hand now much the real estate market is moving up here…

 

Not Everybody Has a Boat Load of Money

 

Not everybody can afford buying a detached house in the Toronto Area.

I get that.

If you don’t (have a boat load of money), and you still want to make money by buying real estate, you should buy a pre-construction condo.

I recently wrote a detailed article on How To Make Money Buying Pre-Construction Condos.  This article is a good read for anyone interested in profiting by purchasing real estate.

As the real estate market in the Toronto area continues to rise in value, fewer people will be able to afford detached homes, and more people will be buying condos.

 

The good thing(s) about buying in a new condo project in The Greater Toronto Area are:

 

  • Generally no multiple bid scenarios for buyers purchasing in new condo projects
  • The completion dates of new condo projects are up to 4 years into the future, which means that by the ¬†Occupancy Date, the condo will already have gone up on value.
  • If you deal with a VIP Realtor (like myself), you can get special builder INCENTIVES and DISCOUNTS.

An example of an incentive would be the builder of the new condo project offering:

3 Years of Free Maintenance

 

Depending upon how the builder structures this incentive, it could mean that for the first 3 years, you are paying no maintenance fees for your unit.

More commonly, the builder will take the total value of the maintenance fees, and either deduct that from your purchase price, or sometimes they give that to you as a ‘cash back’ at closing.

 

Let’s look at a quick example of this…

You are interested in purchasing a condo in a pre-construction condo project in Toronto.

The maintenance fees for the unit you are interested in are going to be:

$385/month.

If this builder is offering Free 3 Years Maintenance, and deducting this value from your purchase price (on closing), this is what the math equation would look like…

$385/month * 12 months = $4,620

$4,620 (maintenance fees in one year) * 3 years = $13,860.

Therefore in this scenario, at the time of purchase, this builder would deduct $13,860 from your over all purchase price.

 

Why Do Builders Offer These Amazing Incentives?

The real estate market in Toronto is a competitive one.  At any given time, there are hundreds of new condo projects, and new homes being built in the GTA.

Builders need to sell their inventory ASAP for a variety of reasons.

The number one reason is because of construction financing.

If a builder is borrowing money from one of the Major Banks in Canada, in order to build their condo project.

The bank releases money to the builder in stages, which is dependent upon the percentage of units the builder has sold in their project.

 

I Am Going To End It Here…

Before this article becomes too long, I am going to end it here.

In summary, the real estate market in the Greater Toronto Area is on absolute FIRE.  

If you have the capital to invest in this market you should buy:

 

A) A Detached Home

B) A Pre-Construction Condo

 

If you don’t have enough capital to buy a detached home, then next on your list should be a pre-construction condo.

Let me know if you have any questions, or if you need any help!

To Your Success!

-Neil

 

ps: I am a Real Estate Broker and a VIP Realtor.  I specialize in pre-construction projects and residential resale in the Greater Toronto Area.  I have access to over 100 new condo projects all over the GTA.  Sign up  to receive special builder DISCOUNTS and INCENTIVES that you cannot get from going direct.  To your success!

 

 

 

 

 

 

 

 

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How To Make Money Buying Pre-Construction Condos

Posted by neil on February 28, 2017
General / No Comments

 

 

Hi There,

 

I hope you are doing well.

Today I would like to talk to you about:

Renting VS. Buying A Pre-Construction Condo In Toronto.

 

If you are familiar with what is going on with the real estate market in the Greater Toronto Area (GTA), you probably know by now that the market has gone completely Bananas.

There have been massive price increases all over the GTA with all different property types.

Many knowledgable experts say that the real estate market here is changing forever.  In that, Toronto is finally becoming a true international real estate market, similar to London, and Hong Kong.

With the transformation of the Toronto landscape occurring, this is having a ‘ripple effect’ on the housing prices all over the GTA.

If you own real estate in the greater Toronto area, you probably feel like a champ.  The price gains have been great, and life is good for you I am sure.

If you don’t own any real estate, and you are on the ‘outside looking in’, things may seem a lot more depressing for you.

You might be wondering to yourself how you will ever be able to afford anything in a market like Toronto where the prices keep on going up.

 

The Reality

 

The reality my friends is that for the people who sit back and do nothing, life will get a whole lot more depressing because they are going to get priced out of the market…. and priced out FAST. ¬†

The market is moving so fast, it is leaving people behind in the dust.

This may seem like an overly dramatic statement, but let me qualify it.

As a Real Estate Broker who specializes in pre-construction and residential re-sale all over the GTA, I see first hand how prices keep on going up, and how people sitting on the fence are getting priced out and left behind.

If have the capacity and the finances to get into the real estate market, my Goodness man… DO IT!

Here is a quick and basic math exercise to show you the benefits of taking action and not sitting back.

 

Renting Vs. Buying a Pre-Construction Condo in The Greater Toronto Area

 

Let’s pretend that you are a youngster. (If you are not already one)

Or you can think of a youngster that you know ¬†(your child, neighbour’s kid, nephew/niece) that is eager to buy something in the real estate market in the GTA.

A lot of youngster rent.  We know this.

What we also know is that for many new condo projects in the GTA, approximately a 20% downpayment is required by the builder.  

We also know that depending upon when you buy into one of these projects, the completion date can be up to 4 years into the future.  

So now let’s do a little bit of math… shall we?

 

Time For Some Math…

SCENARIO #1

 

In scenario One, the youngster is renting a one bedroom plus den condo somewhere in the GTA.

Let’s assume that he or she is paying $1850/month. ¬†Sounds fair? ¬†I think so.

Depending upon the location of where they are renting, this price will obviously change.

Let’s go with $1850/month.

Without looking at inflation and rent increases, let’s say that they rented for the next 4 years.

The total amount of money that they would have put towards their rent payments over this time would be:

 

$1850 * 12 months = $22,200

Now multiply $22,200 by 4 years = $88,800.

 

Therefore, over 4 years, $88,800 would have gone towards rent.

 

SCENARIO #2

NOW let’s look at a scenario where at the start of those 4 years, the youngster purchases a pre-construction condo in Toronto instead.

Just so we can keep this math simple ( I am NOT a math whiz), let’s assume that the youngster bought a pre-construction condo for $330,000 somewhere in the GTA. ¬†Does that purchase price look fair to you? ¬†I think it does!

 

So the condo at the time of purchase is $330,000.  

 

Let’s also assume that there is a 4 year window for completion. ¬†Since it is February 2017 at the time of writing this, let’s say the occupancy date is Feb 2021.

 

Unless you are always looking for the sky to fall on you, it is an accurate prediction to say that the real estate market is going to continue to rise in the GTA over these next 4 years.

 

Now here is the $1 billion dollar question……

 

How much will the market go up by?

 

Given that the real estate market (detached homes) in Oakville, Ontario went up by 38.4% year over year from November 2015 to November 2016 , would it be a fair assumption to say that the market will go up 5% per year in the condo market in the GTA?

Is that too high?

You think it is?

Okay, fine. ¬†Let’s be super, ultra conservative and say that the market only goes up 2.5% per year.

This figure may seem ridiculously low to those of you who understand what is truly happening with the real estate market in the GTA.

Okay… let’s assume a 2.5% increase in the market, over the next 4 years.

Okay… here we go.

 

Purchase price of in Feb 2017:   $330,000

Price in Feb 2018 – $330,000 * 2.5% = $338,250

Price in Feb 2019 – $338,250 * 2.5% = $346,706

Price in Feb 2020 – $355,374

Price in Feb 2021 – $364,258

 

So as you can see, by using an abnormally low figure for appreciation at 2.5%, this condo that the youngster purchased, will have gone up $34,258 over 4 years.  

Keeping in mind that experts predict that the market is going to rise a lot higher than this.

Even if we take these low numbers and compare them, this is what we find.

 

Comparison

 

If the youngster buys real estate, he or she would have made $34,258 in equity appreciation over these 4 years.

If he or she had been renting over these same 4 years, based on our figures, it would have cost them $88,800 over the same 4 years.

There are of course other variables and factors to consider when running these types of numbers, but from a high level you can see that it pays off financially to buy real estate and get into the market now.

If you are interested to get into the market, and don’t know where to start, here are some options for you:

 

Vita On The Lake By Mattamy РThis is my favourite pre-construction project currently.  It is being built on the shoreline of Lake Ontario.

 

Time And Space Condominiums РIf you buy early here, you are going to make a lot of dough. The project is in the Downtown Toronto Core.

 

Liberty Central By The Lake РAwesome if you want to live in Liberty Village now.
EMPIRE: Rain And Senses РAmazing furniture package of $10,000.  Limited time offer.

 

To Your Success!

-Neil

ps: I am a Real Estate Broker and a VIP Realtor.  I specialize in pre-construction projects and residential resale in the Greater Toronto Area.  I have access to over 100 new condo projects all over the GTA.  Sign up  to receive special builder DISCOUNTS and INCENTIVES that you cannot get from going direct.  To your success!

 

 

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Unobstructed Lake Views

Posted by neil on February 27, 2017
General / No Comments

Hi There,

I hope all is well on your end.

Vita On The Lake By Mattamy is a new condo project in Toronto that I really like.

I talk about the pre-construction condo in length in my recent blog post here: Vita On The Lake By Mattamy

If you missed my earlier blog post, I recommend that you read it.

To summarize this earlier post for you, I really Vita On The Lake By Mattamy  for a number or reasons.  2 of these reasons are:

  • A) The Location
  • B) The Builder

Let’s talk about the Location first…

A) Location

If you are not familiar with the Humber Bay in Toronto, you are missing out.  Below is a picture that shows you where Humber Bay is located:

 

That “Blue” you see in the picture is Lake Ontario. ¬†Vita On The Lake is being built on the shoreline of Lake Ontario!!

 

According to Mattamy, this building is now approximately 75% SOLD OUT.

This should not come as a surprise to anyone that is familiar with the Toronto real estate market, any major real estate market for that manner.  If a builder builds condominiums on the shoreline of a water body in a major city, they are obviously going to sell fast!

 

B) The Builder

Now let’s talk about the builder, Mattamy.

Mattamy is a HUGE builder that is extremely reputable.

Buyers are comfortable in dealing with them because they have a proven track record of delivering a superior product.

As a VIP Realtor, I enjoy working with them as well.  They are extremely organized and I like the technology they use in their Presentation Centre for Vita On The Lake.

ie: Through an interactive touch screen TV, you can pick any suite in Vita On The Lake, and you can see a panoramic view of  Lake Ontario and The City of Toronto, from the perspective of the suite that you have just selected.  For example, you can see your viewpoint from a suite on the 5th floor or a suite on the 46th floor!

 

What You Need To Know…

 

Mattamy is doing a final “push” on some of their HIGHER END suites, as well as some of their unsold LOWER priced suites.

Mattamy is still offering incredible builder incentives through VIP Realtors (such as myself).

 

If you don’t know, VIP Realtors (like myself) have special relationships with builders. ¬†We get discounted prices and special builder incentives for clients, that you cannot get by going directly to the builder. ¬†

 

So if you are interested in pursuing a suite in this building, be sure to contact me…

Here is a description directly from Mattamy’s marketing department on the remaining suites that they are selling off at Vita On The Lake:

 

BIG.  BOLD.  BEAUTIFUL.

CORNER SUITES WITH UNOBSTRUCTED VIEWS OF THE LAKE AND WRAP AROUND BALCONIES.  WHO COULD ASK FOR ANYTHING MORE?

These two bedroom plus den super suites featuring oversized bedrooms and closets, are now available on floors 46 through 49 in Vita On The Lake.

The suites are as impressive as the unobstructed south and east views that you’ll enjoy from the Humber Bay shoreline to the downtown skyline. ¬†

At Vita On The Lake you’re close to Pearson Airport and downtown and as close to perfection as lakeside living can be. ¬†

Contact your VIP Realtor and visit the Sales Centre with them today.  

 

 

If you have any questions regarding Vita On The Lake By Mattamy, feel free to email me direct at:

neil@firstrentalproperty.com

 

Sincerely,

Neil

ps: Here are some pictures of Vita On The Lake…

 

 

 

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Time And Space Condominiums Is Coming Soon

Posted by neil on February 23, 2017
General / No Comments

Hi There,

I hope you are doing well.

Today I have some EXCITING news for you!

I am a VIP Realtor with many of the pre-construction condo builders in the Greater Toronto Area.

As such, I often get access to special DISCOUNTS and builder INCENTIVES whenever a new condo project is being constructed.

This results in TENS OF THOUSANDS of dollars made by my clients who purchase in the early stages of the condo development.

I am excited to let you know that a MAJOR development will be coming soon to Downtown Toronto called, “Time and Space Condominiums”.

 

Time and Space Condominiums – FAST FACTS

 

  • Time and Space Condominiums is coming to Front and Sherbourne Streets, and is situated between Toronto‚Äôs historic St. Lawrence Market and The Distillery District. ¬† Pemberton Group presents Downtown Toronto’s most-anticipated condominium community – Time and Space.

 

  • Encompassing an entire Toronto city block, Time and Space will transform this historic location and offer residents a vibrant future. Ranked the best city to live in globally according to The Economist, Toronto is Canada’s largest city and the third largest in all of North America. Home to one of the most diverse populations in the world (approximately 2.8 million people), Toronto is a global centre and attraction for business, finance, arts, culture, and sport.

 

  • An estimated 125,000 new residents immigrate to the City of Toronto on an annual basis. In 2016, 80,000 people between the ages of 20 and 40 (from other regions of Ontario) had moved to The City, primarily seeking employment in the City Centre. In 2016, approximately 511,200 jobs were located in Toronto‚Äôs Downtown. ¬† 85% of all jobs are located within the five Toronto centres (Downtown, North York, Scarborough, Yonge/Eglinton, Etobicoke).

 

  • The office category is Downtown‚Äôs largest, accounting for two of every three jobs. The office area south of Front Street has the largest concentration of office employment outside of the Downtown Core and North York Centre. With the concentration of jobs in this area, many professionals opt to live in close proximity to their workplace, ideally within minutes. Available inventory in Toronto currently sits at approximately 11,000 units, representing half of the supply required for the massive migration to the City Centre. Today, the average detached home in the City of Toronto sells for over 1.35 million dollars ‚ÄĒ unaffordable for most people and families.

 

  • As more and more buyers are priced out of the market for single-family, detached homes in the City of Toronto, buyers are pursuing alternatives in the condo market in the City – either to rent or own. Within a five-minute drive radius from Time and Space, there have been 91 resale and 111 lease transactions within the past two months alone. This bustling activity is a testament to the desirability of the neighbourhood.

 

  • Time and Space is located in one of the trendiest neighbourhoods in the Greater Toronto Area, and is well-positioned to take advantage of the local transportation hub and tourist hot spots. Within minutes‚Äô walk to Union and King Subway Stations, Time and Space boasts an impressive Transit Score of 100/100, Walk score of 99/100, Bike Score of 95/100. Recently, there has been a $1.5 billion investment in Toronto‚Äôs Waterfront community.

 

  • This ideal combination of exponential growth in demand, limited supply of condominiums, and a continued development of new infrastructure in the St. Lawrence Market and Distillery areas will help propel a price and rental appreciation for properties in this neighbourhood in the upcoming years. Time and Space is situated in this nucleus, and suite owners in this iconic community will stand to experience and benefit from this intensification.

 

Time and Space Condominiums – Building Features

 

  • 10 Storey Podium
  • Two 29 Storey Towers
  • Ground Floor Retail
  • 67,000 SQFT Amenities
  • Public Park / Courtyard

 

Time and Space Condominiums – Suite Features

  • Four-pipe fan coil for year-round control of heating and cooling.
  • 7¬Ĺ‚ÄĚ Laminate flooring for foyer, living/dining, bedroom and den
  • Semi solid interior doors complete with brushed chrome lever handle, as per plan.
  • Smooth finish ceiling – height of 9‚Äô in principal rooms excluding mechanical bulkheads.
  • Ceiling light fixture in bedrooms.
  • Stacked washer and dryer-27‚ÄĚ, front loading.
  • Quartz window sills.
  • Stainless Steel Appliances and custom kitchen cabinetry
  • Undermount cabinet lighting
  • Frameless Glass Shower

 

Time and Space Condominiums – Units, Square Footage, and Available Levels

 

  • ONE BEDROOM (440 to 540 square feet). ¬†Levels Available: 3 to 29
  • ONE BEDROOM AND DEN – 1 BATH (495 to 590 square feet). ¬†Levels Available: 3 to 29
  • ONE BEDROOM AND DEN – 2 BATH (570 to 710 square feet). Levels Available: 3 to 29
  • TWO BEDROOM (665 to 790 square feet). ¬†Levels Available: 3 to 29
  • TWO BEDROOM PLUS DEN (760 to 855 square feet). Levels Available: 3 to 29
  • THREE BEDROOM (785 to 930 square feet) ¬†Levels Available: 3 to 29.

 

Time and Space Condominiums – Deposit Structure

 

  • $5,000 on signing of Agreement
  • Balance to 5% in 30 days
  • 5% in 120 Days
  • 5% in 425 Days
  • 5% on Occupancy

 

Time and Space Condominiums – Occupancy Dates

 

  • East Tower – November 16th 2020
  • West Tower – May 18th 2021

 

The Good News

 

There is going to be incredible demand for this new condo project once it is released.

There will be an opportunity for you to purchase a suite here, and PROFIT big time.

By the time the condo towers are ready in 2020 and 2021, the value of your unit will have gone up significantly in value.

The reason for this is simple.

Supply and demand my friends.

The number of people coming into the Greater Toronto Area every year far surpasses the available housing inventory.

THE SUPPLY IS NOT ENOUGH TO MEET THE DEMAND

 

This Is What You Need To Do NOW!

 

If you are interested in purchasing a suite in this new condo development, please let me know as soon as possible (ASAP!!!)

Once that you have expressed your interest, I will contact you closer to when the suites are being released.

That way, you will ensure that you are able to secure a unit before they sell out.

And sell out they will. ¬†These suites will go fast…

Email me direct at neil@firstrentalproperty.com

Happy Investing!

Neil

ps: I am a VIP Realtor in The Greater Toronto Area.  I help people invest in pre-construction condos and new condo projects.  To get access to ALL of the latest projects, sign up for my newsletter today!

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NAUTIQUE Lakefront Residences In Burlington

Posted by neil on February 22, 2017
General / No Comments

 

Hi There,

I hope all is well on your end.

Today, I would like to tell you about a new condo project that is being developed in Burlington, Ontario.

If you don’t know, Burlington is a neighbouring City to Toronto, and is located within the Greater Toronto Area.

By definition, Burlington is a City in The Regional Municipality of Halton at the northwestern end of Lake Ontario.

Just like in Toronto, the real estate values in Burlington are very strong and have been rising over the past several years.

With the rise in values, this has opened up opportunity for high rise condo builders to come into the City and build a number of pre-construction condo projects.

The name of the new condo project is:

 

NAUTIQUE Lakefront Residences In Burlington

 

The #1 aspect that I like about this project is that it is located on the shores of Lake Ontario.  

 

If you live in a City or Town on the water, you know how amazing the Lake, Ocean, or Sea views can be.

You don’t even have to live in a waterfront community to imagine how amazing the scenery is.

So let’s get into it.

I am going to give you some Key information regarding this pre-construction condo development.

 

UNITS AVAILABLE: 1 Bedroom and 1 Bedroom + Media Units

FLOORS AVAILABLE: 8, 10, 19

PRICE (RANGE) AVAILABLE —-> NOTE: THESE ARE DISCOUNTED PRICES FOR VIP AGENTS (more on that later): ¬†$393,490 to $424,490

EXPOSURES AVAILABLE: North (City View), North East (City View), West (Partial Water View).

SUITE SIZE: 503 Square feet to 664 square feet.

BALCONY SIZES (RANGE): 37 square feet to 44 square feet.

SPECIAL EXTENDED DEPOSIT STRUCTURE:

  • $5,000 on signing
  • Balance of 5% in 30 days
  • 5% in 120 Days
  • 5% in 370 Days

PARKING: One parking spot is included in the purchase price.  

ADDITIONAL PARKING SPOT: $59,900

STORAGE LOCKER: $3,500 (Wait List)

MAINTENANCE:

  • For Suites 400 to 599 square feet —> $0.63 per square foot
  • For Suites 600 to 799 square feet —> $0.57 per square foot
  • For Suites 1,000 to 1,399 square feet —> $0.48 per square foot
  • For Suites larger than 1,400 square feet —> $0.46 per square foot

 

TAXES: Estimated at approximately 0.88% of Purchase Price.  

BUILDER: ADI Development Group

 

OCCUPANCY COMMENCING: November 2018

 

As a VIP Realtor with most of the Builders in The Greater Toronto Area, I get access to Insider pricing and Insider incentives offered by the builder.  

Through my VIP Access, I was recently able to offer purchasers $10,000 Off of their purchase price with Vita On The Lake by Mattamy and a $10,000 Furniture Package with EMPIRE.

If you have any questions about NAUTIQUE Lakefront Residences in Burlington, feel free to email me directly at: neil@firstrentalproperty.com

Happy Investing!

 

Neil

 

ps: To save thousands on your purchase, and to get access to our insider pricing and insider incentives, sign up today to our newsletter.  We will let you know about all of the pre-construction condos in The Greater Toronto Area as soon as they are launched, so you can get ahead of the line!

pps: Here are some more pictures of Nautique Lakefront Residences in Burlington…

 

 

 

 

 

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What Is Liberty Central By The Lake And Why Should You Live There?

Posted by neil on February 21, 2017
General / No Comments

Hi There,

 

If you are familiar with Toronto, you probably know some of the neighbourhoods in Toronto as well.

There are some really popular neighbourhoods and some neighbourhoods that are less well known.

One neighbourhood in Toronto that is very well known and popular to live in is Liberty Village.

 

According to Wikipedia…

Liberty Village is a neighbourhood in Toronto, Ontario, Canada. ¬†It is bordered to the north by King Street West, to the west by Dufferin Street, to the south by the Gardiner Expressway, to the east by Strachan Avenue, and to the northeast by the CP railway tracks…Liberty Village is located on one of Toronto’s oldest Settlements.

 

If you are at all familiar with Liberty Village and have been there before, you know that the neighbourhood is not as boring as the Wikipedia definition.

On the contrary.  It is an entertaining place, full of people and vibrant places.

 

The Top 10 Places In Liberty Village

The top 10 places in Liberty Village according to BlogTO, by reader ‘Rating’ are…

Ciao Europa Cafe

3 Brewers (Liberty Village)

Locus 144

Pure Yoga

See And Be Seen Eyecare

B Suite Salon

Liberty Commons At Big Rock Brewery

The Perfect Scoop

Local Public Eatery

Maizal Quesadilla Cafe

 

Now that you know about the ‘top ranked’ places to go when you are in Liberty Village, let’s talk real estate…

 

Liberty Central By The Lake (Vital Stats)

Here are some major details about this development that you should know, if you are interested in purchasing a unit there (more on that later)

 

SUITES AVAILABLE: 1 Bedroom plus Den, 2 Bedroom

PRICE (RANGE) AVAILABLE: $411,900 to $449,900

SQUARE FOOTAGE (RANGE) AVAILABLE:  746 square feet to 802 square feet

EXPOSURES AVAILABLE: East, West, South West

FLOORS AVAILABLE: 3, 4, 5.

PRICES INCLUDE: H.S.T. (What is HST?)

PARKING: $45,000

LOCKER: $5,000

MAINTENANCE FEE: $0.55 per square foot.  (Excludes: Individual Hydro Metering, water, parking, locker, taxes.)   (Includes:  Building insurance, snow removal, reserve fund, landscaping and maintenance, natural gas plus common area hydro.) 

PROPERTY TAXES: Estimated at 1% of the purchase price per annum.

OCCUPANCY DATE: January 2019

DEPOSIT STRUCTURE:

  • Total 21%. ¬†
  • $5,000 payable on signing. ¬†
  • Balance to 5% of the purchase price in 30 days. ¬†
  • 5% of the purchase price – 90 days from Agreement date.
  • 5% of purchase price – 370 days from Agreement date.
  • 5% of purchase price – 470 days from Agreement date.
  • 1% of purchase price upon occupancy.

 

Liberty Central By The Lake (Cool Description)

Here is a pretty catchy description of this new condo project¬†taken from the Builder’s website…

“Designed to take full advantage of its lakeside location, Liberty Central is for those who live for a spectacular view in Toronto‚Äôs most sought after neighbourhood, Liberty Village. The mixed-use development is part of CanAlfa‚Äôs master-planned residential community. The building takes impact from street level up, with a four-storey podium that includes a main lobby, retail spaces and a fully landscaped and amenity-filled rooftop terrace. While there are plenty of leisures to explore inside, you‚Äôll also be south of King Street West, within walking distance of restaurants, boutiques and daily essentials, as well as minutes from the downtown core and Lake Ontario. For those who appreciate a strong community, soaring view of the skyline or the easterly views of local parkland, this is the place for you.”

 

Sounds pretty awesome, doesn’t it?

Well, in my opinion, it is awesome… and here is why…

 

Reason #1 Why Liberty Central By The Lake is awesome…

The builder for this pre-construction condo is a group called CanAlfa. ¬†If you are not familiar with real estate, or builders in Toronto, you might be wondering…“Who the heck is CanAlfa? ¬†The name sounds like some sort of hair product for men!”

Don’t be fooled by the name my friends. ¬†Take a look at what CanAlfa has built in Toronto…

Their portfolio includes developments such as:

  • Toronto‚Äôs Scotia Plaza
  • Waterpark Place
  • 10 and 20 Bay Street
  • Liberty Central by the Lake joins their portfolio of properties ‚ÄĒ Liberty Urban Towns, Liberty Towers, Bliss, Liberty on the Park and Liberty Place.

So as you can see, this Group has already built some ‘big time’ projects in Toronto. ¬†You may not be familiar with their name. ¬†If you are not, that doesn’t matter.

They have a proven track record in the City of Toronto.

In summary, Reason #1 why I love this new condo project is because the builder has already done major projects in the City and they are very experienced.

 

Reason #2 Why Liberty Central By The Lake is awesome…

I really like their floor plans.  The units are big and there is sufficient square footage in each unit, especially when you compare the Floor Plan Layouts to other competing new condo projects in the City.

The builder definitely did not skimp out when designing these Floor Plans.  The units are comfortable in size and fit for a King.  Well.. not really fit for a King, but you get the picture.  The floor plans are well thought out and I like them.  Which means that a lot of other people will like them as well.

Here is a floor plan for the “Kalliope”. ¬†This is a 1 Bed + Den. ¬†746 square feet plus a 38 square foot balcony. ¬†The image is a bit small, so feel free to “zoom in” to take a better look.

If you want me to send you a PDF version of this floor plan, send me an email at neil@firstrentalproperty.com and I would be happy to send it to you.

 

 

The Offer…

So basically, we have established (if you did not know already) that Liberty Village is AWESOME and people want to LIVE there.

Whenever you find an awesome place in Toronto where people want to live, one thing is for certain…

There will be competition for the real estate there.  Prices will be driven up, and there will likely be multiple offers on listings.

Liberty Central By The Lake is an awesome building where a lot of people want to live. ¬†There will be a lot of demand for these units, and there already has been. ¬†That is the bad news. ¬†However, I have some good news as well…

 

The Good News…

I am a VIP Realtor in The Greater Toronto Area. This means that I have front of the line access to over 100+ new construction condo projects in Toronto.

Liberty Central By The Lake is one of them.

 

What This Means For You…

This VIP Access  allows me to help people bypass all of the chaos (multiple offers, no financing or home inspection conditions on offers) of the re-sale market in Toronto.

We focus our efforts on the new condo market where you can purchase a property directly from the builder and avoid all of the mess and chaos happening in Toronto market, due to the incredible rise in value that this market is experiencing.

If you are interested in purchasing a unit at Liberty Central By the Lake, you should contact me today at neil@firstrentalproperty.com

I will be able to introduce you to the builder and reserve you a unit that you can purchase.

 

Here is the Catch…

If you are interested, you have to move quickly.  In a recent conversation I had with the builder, they told me that the building would be sold out soon.

I believe that this is true, based on the desirable location of Liberty Village, and based on the overall lack of inventory in the Toronto market.

Email me today, and let’s get you a unit.

 

Happy Investing!

 

Neil

neil@firstrentalproperty.com

 

ps: I have been personally investing in Toronto real estate since 2005.  If you are interested in buying a condo in Toronto for investment (or to live in), we should talk.

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Is EMPIRE Rain & Senses In Oakville A Good Investment?

Posted by neil on February 20, 2017
General / No Comments

Hi There,

 

I hope you are doing well.

I am a Real Estate Broker with RE/MAX in the Greater Toronto Area.

I always get asked by people what type of real estate they should be investing in.

The majority of the people that I talk to are interested in investing in Toronto real estate.

One gentleman that I was speaking to last week was a first time condo buyer in Toronto Canada.

Some people that I speak to are experienced with real estate, while others don’t have too much experience.

The common thread with these people is that they are interested in buying a condo in Toronto Canada, or even a house in The Greater Toronto Area that they would live in or rent out to tenants.

Today I would like to talk to you about:

 

EMPIRE RAIN & SENSES IN OAKVILLE

If you are familiar with the Greater Toronto Area, you know that Oakville is an ‘upscale’ Town located approximately 20 minutes by car west of Toronto.

 

Here is Wikipedia’s definition of Oakvillle:

“Oakville is a suburban town in Southern Ontario, Canada. Located in Halton Region, on Lake Ontario, it is part of the Greater Toronto Area. As of the 2016 census the population was 193,832.”

 

“Rain & Senses” is a pre-construction condo being built by EMPIRE, located in The Town of Oakville.

Some say that EMPIRE is the second largest builder in Ontario, Canada by the number of units sold.

EMPIRE would be second of course to Mattamy. ¬†(Read About: Mattamy’s Vita On The Lake Here)

 

Here is some important information on “Rain & Senses” as well as some of my personal opinions on this new condo project:

 

EMPIRE: Rain & Senses

 

  • SUITES AVAILABLE: 1 Bed, 1 Bed + Den, 2Bed, 2 Bed + Den
  • SQUARE FOOTAGE (RANGE) OF AVAILABLE UNITS: 543 square feet to 1250 square feet
  • PRICE (RANGE) OF AVAILABLE UNITS: $329,990 to $739,990
  • EXPOSURES AVAILABLE: North, North/East, East, South/East, South West, West
  • TOTAL NUMBER OF BUILDINGS: 2
  • TOTAL NUMBER OF FLOORS: 19
  • PARKING: One parking space is included in the purchase price (additional parking available for purchase at $30,000 + HST) ¬† (What is HST?)
  • LOCKER: $4,000 + HST
  • CEILING HEIGHT: 9′ Ceilings
  • MAINTENANCE INCLUDES: Gas, Common Element Expenses & Building Insurance (Hydro and Water is separately metered)
  • OCCUPANCY DATE: June 21st 2017 (First Tentative Occupancy Date)
  • DEPOSIT STRUCTURE: 1st Deposit (with Agreement) is $5,000, 2nd Deposit (30 Days From 1st Deposit) is the Balance to 5%, 3rd Deposit (Due On Occupancy) is 5%. ¬†For a total deposit of 10%.

 

I like this new condo project for a few reasons:

 

A)  There are limited high rise condo buildings in Oakville.  

The Town of Oakville is very particular with regards to dealing with Builders.  As such, the town has not approved many high rise buildings to be built in The Town itself.  As such, there is in my opinion limited inventory in Oakville when it comes to high rise condo buildings versus some of the neighbouring towns and cities close to Oakville.

And and as we know already, where there is limited supply, and if there is demand for that limited supply, this is what pushes real estate prices up.

“Detached homes in The Town of Oakville went up in value 38.4% year over year from November 2015 to November 2016.” ¬†– Source: RE/MAX Aboutowne Realty Corp., Brokerage

With this type of dramatic increase in value, people are naturally going to gravitate towards lower priced real estate, such as new construction condos.

 

B) EMPIRE Is Offering a FREEE $10,000 Furniture Package with the purchase of any suite.

 

Like the saying goes, “All Good Things Come To An End”.

This amazing Free $10,000 Furniture Package Offer will come to an end soon.  It is only for a limited time.

The date in which EMPIRE will no longer be honouring this offer is March 12th 2017.

So if you have any interest in purchasing a unit in this condo project, and if you would like to get this amazing Builder Incentive, you need to act quickly.   You can email me directly at neil@firstrentalproperty.com to find out what the next steps are if you want to purchase a unit.

Sometimes builders offer special DISCOUNTS off of the purchase price or what they call, ¬†“builder INCENTIVES”. ¬†These discounts and incentives are made available through VIP Realtors (like myself).

 

In My Opinion…

In my opinion, the FREE $10,000 Furniture Package that EMPIRE is offering is a very good builder incentive.

EMPIRE is really going above and beyond what other builders offer as their builder incentives, and they are clearly trying to offer something of VALUE to their potential purchasers.

Sometimes builders try to get away with offering potential purchasers with cheap and not too significant incentives.  This is clearly not the case with EMPIRE.  I am impressed with this Incentive that they are offering, and I think more builders should offer great incentives like EMPIRE is demonstrating here.

 

The Bad News…

Rain & Senses is almost SOLD OUT.

EMPIRE is a great builder, and people want to own real estate built by great builders. Not to mention Oakville. ¬†Oakville is a very desirable Town to Invest in…

You will need to move quickly if you want to purchase a unit in this EMPIRE community AND if you want to receive their FREE $10,000 Furniture Package.

 

The Good News…

To get this amazing $10,000 Furniture Package, and to reserve a suite to purchase, email me today at neil@firstrentalproperty.com

Move quickly though because the real estate market in The Greater Toronto Area is insane.

 

Happy Investing!

Neil

 

 

 

 

 

 

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Vita On The Lake By Mattamy

Posted by neil on February 19, 2017
General / No Comments

 

Hi There,

 

I hope your are doing well.

Today I would like to talk to you about a condo project that is being built on the Toronto Waterfront.

The name of this project is, “Vita On The Lake”.

The builder for this project is Mattamy.

If you are from The Greater Toronto Area, you know exactly who Mattamy is.

Some say that Mattamy is the biggest builder in terms of volume of units sold.

Is this true?

Probably.

I have not fact checked this, but I would not be surprised at all if they were the biggest builder.

Mattamy is HUGE.

When I actually think of this more, I ask myself…”Who is bigger than Mattamy in the Greater Toronto Area?”

I can’t think of any other builder…

 

Investing In Toronto Real Estate

 

A lot of people that I talk to are interested in buying a condo in Toronto for investment.  It is a relevant conversation that I have with people since I am a Real Estate Broker with RE/MAX.

Some people that I talk to are experienced investors while others are new to this and they are looking to purchase their first rental property.

Then of course, there are people that I talk to who are interested in buying a condo in Toronto Canada for their primary use.  (To live in).

 

Vita On The Lake

What is Vita On The Lake?

Vita On The Lake is a project that Mattamy is building that I love.  I love this project for 3 main reasons.

 

A) Location

The building itself is being constructed on the Toronto Waterfront.  Units in the building have FULL and PARTIAL views of Lake Ontario.

Some of the smaller units don’t have views, and of course if your units does not face the Lake you will not have a view.

However, some of the views from this building are breathtaking.

As such, this pre-construction condo project has been extremely popular with both condo investors and people looking to buy a unit there to live.

 

B) The Builder

The second reason why I love this project so much is because of the builder… Mattamy. ¬†Again if you are from The Greater Toronto Area, you know exactly who Mattamy is. ¬†You also probably know at lease one person who has purchased a Mattamy home, Or you will know a ‘friend of a friend’ who has bought a Mattamy home. ¬†That is how BIG they are.

Since they are a BIG builder, they know what they are doing when it comes to all aspects of new construction condos.

I find their customer service level to be very high, and they produce an excellent finished product.

 

C) Discount Off of Purchase Price

Good builders (Like Mattamy) always have great incentives for their purchasers.  The Incentives that they offer are often made available to the public through VIP Agents (like myself).

On this project, Vita On The Lake, Mattamy is offering 2 to 3 years of free maintenance, on select units, which equates to a discount off of the purchase price of between $10,000 to $20,000!!

This is a big deal, as Mattamy does not normally offer discounts on the purchase price of their homes and condo units.

They don’t need to because their inventory of new condos and homes always sells like…

 

HOT CAKES.

 

So to actually get a discount off the the purchase price is an amazing deal that Mattamy is offering.

Again, VIP Agents (like myself) have access to these incredible discounts through the builders.  (If you want more info on this.. send me an email)

 

Is Vita On The Lake A Good Investment

 

For years, people have been asking me about real estate.  Questions that I get are:

  • Where should I invest?
  • What is a good investment?
  • Should I buy a condo or a house?
  • How much will my property go up from the time I purchase it to the time I sell it?

 

And the questions go on and on…

 

You might have similar questions with Vita On The Lake.  I get it.  People love real estate.  They want to buy something, and they want it to go up a huge amount (in value).

Well here is the deal… properties in the area that Vita On The Lake is located have been going up in value already due to the HOT Toronto Real Estate Market.

Let’s look at a few things…

 

  • A) The project is located on the waterfront of a major International City. (Toronto)

 

  • B) The City (Toronto) experiences approximately 100,000 people moving into this region every year.

 

  • C) Canada has it’s doors open to Immigrants. ¬†Many of the immigrants settle in the Province of Ontario, and specifically within the Greater Toronto Area. A lot of these immigrants come with a lot of money to invest.

 

  • D) Some projections have been made by the Provincial Government in Ontario, that 4 MILLION more people will be moving to the Greater Toronto Area ¬†/ Golden Horseshoe Area / Southern Ontario over the next 25 years !!!

 

  • E) ¬†Oh yeah… and I forgot to add the following…¬†Ontario is running out of land to build on. ¬†There is a lot of protected land in Ontario, called “The Green Belt”, which is restricted. ¬†Builders cannot build on this land.¬†As such, builders are no longer building OUT, as they once used to (by building sub-divisions of homes).¬†They are now building UP, and have been doing this for a number of years.

 

To put it in simple terms, it comes down to supply and demand.

If you know even a little bit about Economics, you know that…

If supply is low, and there is demand. ¬†Then prices go up…

 

The story of the Greater Toronto area, and in particular, Toronto is that there is not enough supply (of housing) to match the demand (the number of people moving into the region).

 

So to answer my initial questions

 

Is Vita On The Lake a good investment?

 

My answer to this is:

“Yes, Vita On The Lake is a GREAT investment”

In what other international city with BOOMING real estate market can you buy a condo on the Waterfront, with Lake or Ocean views for under $700/square foot?

 

The long story short is that if you are looking to buy a condo in Toronto to live in or for investment (to rent out), and if you want to be on the Toronto Waterfront…

Vita On The Lake is where you need to buy.

But here is the catch… you have to move quickly. ¬†There are a lot of smart people in Toronto (when it comes to investment) and they have been buying already in this building.

If you don’t take action soon, this building will be sold out.

If you are interested in buying a unit, email me directly at neil@firstrentalproperty.com and then I will let you know what the next steps are.

Happy Investing!

Neil.

ps: Here are some pictures of Vita On The Lake By Mattamy…

 

 

 

 

 

 

 

 

 

 

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New Report Says Toronto’s Housing The Least Affordable In Canada

Posted by neil on December 25, 2016
General / No Comments

Hi There,

A new report has just been released by The Royal Bank of Canada (a.k.a. “RBC”)

In this report, RBC states that “Toronto’s housing market is the least affordable in Canada.”

RBC, Canada’s #1 Bank is a reputable source. This leads me to believe that this report is accurate.

Having said this, it is always important to do your own due diligence and always ‘question’ the information that is presented to you by the media.

I just showed a client of mine a 3 bedroom, detached home in one of the most high demand and up and coming areas of the City.

This home just sold for $685,000. (Canadian Dollars)

Opportunities still exist for people to buy detached homes at reasonable prices in Toronto.

You just need to know where to look for these opportunities.

If you are a real estate investor looking to purchase your first rental property, you should also seriously consider condos in Toronto.

Generally speaking, condos are a more affordable investment as the price levels are still lower than detached homes.

Where every you end up investing, make sure that you don’t waste any time.

The best time to buy real estate was always yesterday

Happy Investing!

-Neil

Tags: Buying a condo in Toronto, Canada  |  Buying a condo in Toronto for investment  |  Investing in Toronto Real Estate  |  Buying a condo in Toronto Canada  |  First time condo buyer in Toronto Canada.

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