Want to buy someting less than 300k

Discussion in 'Looking To Buy' started by shyne07, Mar 22, 2011.

  1. shyne07

    shyne07 New Member

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    I want to purchase a condo for less than 300k
    i am going to rent it out and dont need positive cash flow.

    I want something that is in a good area to rent out easily
    and have at least 1400+ monthly rent.

    recommendations required please.
    dont want to have more than 400 for maintanace fee

    thanks!
     
    #1

  2. drewp

    drewp Active Member

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    I think your criteria might be tough in the downtown core. I would look in etobicoke, buildings near the kipling or islington station. I have seen one bedrooms rented out for 1300-1500.

    Your investment will be sound if its next to the subway line. The area is still developing and you get a lot of bang for your buck. Check out network lofts, kingswood, nuvo, essex, even michael power place.

    Good Luck
     
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  3. Lesliez

    Lesliez New Member

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    #3
  4. GraceCondos

    GraceCondos Active Member

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    All good suggestions. Have a client that bought in Network Lofts last year, with plans to live there 1 year until his next new build is ready to move into - then he'll rent out his suite in Network Lofts. You might find that the sale price to rental ratio will be off in Kingswood. It's a great building with high end finishes, just not sure if a renter will pay you the premium you'll be paying to buy it. Michael Power is probably a great bang for buck when it comes to an investment condo but will feel a bit more "CityPlacish" for people that plan to live there (but definately more affordable than Network or Kingswood).

    You could also consider Leslieville. We just sold this suite in Printing Factory Lofts for a hair under $300k and it would fetch ~$1,350 in rent.
     
    Last edited: Mar 31, 2011
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  5. Ric

    Ric Active Member

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    You said you don't need +ve Cash Flow so you should have no problem. 95% of current pre-construction downtown will not carry itself (+ve cash flow). For those of you that do want to shield yourself (non speculators) from any potential downturn, then you can find +ve cash flowing properties in MCC (Square One). 1Br ($220-$250K), rent for $1,300/mth. Maintenance fees <$300. (Elle, Onyx, Widesuite).

    Good Luck
     
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  6. littlemissJJ888

    littlemissJJ888 New Member

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    I was looking at condo downtown the other day. They have some in those Pinnical Towers near ACC going for just $300K, 1 bedroom, rent is around $1,400/month.
     
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  7. Groperty

    Groperty Banned

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    You can definitely find something decent between 250 and 300k. Take a look at Liberty Central Condo - it has received quite a bit of attention and promises to be one of the top condominiums in that range.

    Good luck ;)
     
    #7
  8. suzieq

    suzieq New Member

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    upside down/electric city

    have you tried electric city/upside down. new condos ready in dec 2013
     
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  9. for2000

    for2000 New Member

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    ask brokers and they can do it for you.
     
    #9
  10. potgoa

    potgoa New Member

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    I have a client want to sell her condos by Kipling Station for $299900 would rent out around 1550-1600 I think. Let me know if you are interested.
     
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  11. TORealtyBlog

    TORealtyBlog Active Member

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    Condo less than 300K

    How many rooms are you looking for? You would need to specify what you are looking for?


     
    #11
  12. MortgageMan

    MortgageMan New Member

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    Hello.

    My name is Robert M. Anderson and I'm a Mortgage Agent with Dominion Lending Centres. If you're looking to rent out a property, we have a number of programs that may suit you with the requirements that you're looking for.

    Please, by all means, get back to me at either 647.999.0654 or robert.anderson.dlc@gmail.com at your earliest convenience.

    Hope to hear from you!

    Regards,

    Robert.

    ROBERT M. ANDERSON
    Mortgage Agent
    License # M13001405
    DOMINION LENDING CENTRES MORTGAGE HOUSE LIC. # 10557
    Phone: 647.999.0654 Fax: 416.491.4247
    Email: robert.anderson.dlc@gmail.com
    Independently Owned & Operated


    Thank You
     
    #12
  13. GraceCondos

    GraceCondos Active Member

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    Nothing like digging up a 2 year old thread! :p
     
    #13
  14. teemee

    teemee New Member

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    Hi,

    Looking for something similar here, looking to buy 1 bedroom condo in downtown ( pinnacle towers/financial district, entertainment district, st lawrence mrkt district or your recommend) area . price = 320 k or under. parking and lockers are not a must, balcony is preferred. Any soft lofts within this price range would be great too. any suggestions? I am looking to live for a year and rent it out later.

    Thanks :)
     
    #14
  15. Debra M. Goodrich

    Debra M. Goodrich New Member

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    There should not be much difficulty in finding a condo according to your needs. There are many real estate brokers in Toronto, you can contact one of them. Check out these website, it may help you.
    http://www.macsuites.ca/real-estate/real-estate-services/
    propertyguys.com/on/torontoā€ˇ
     
    #15

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