Investing in Condominiums: Strategies, Tips and Expert Advice for the Canadian Real Estate Investor - Hardcover

Persaud, Brian; Ramadhin, Randy

Hardcover

ISBN 10: 1118043855 ISBN 13: 9781118043851

Publisher: Wiley, 2011

Synopsis

A lot of information has been published for those who wish to buy acondo as a principal residence, but not for investors who want toexpand into the condominium market. Investing in condominiums isnot about being caught up in the mass hysteria of lining up to buya pre-construction unit in a "hot neighbourhood" and hopefullyflipping it at a profit when it's built. On the contrary, investingin condos can be a very good way to generate solid returns whendone according to the proven strategies outlined in the book.

Investing in Condominiums will show readers the ins andouts of profitable condo investing by sticking to investingfundamentals, carrying out proper due diligence, and having an exitplan. Pre-construction condominiums, especially in Toronto andVancouver are sought-after by both Canadian and internationalinvestors. The stable economy, low-interest rate environment, andappreciating values are a recipe for investor success. Investingin Condominiums gives Canadian investors the nuts and bolts ofundertaking such an investment based on real-life examples andexpert knowledge. By reading this book, the investor can proceedwith full confidence knowing that they are asking the rightquestions, doing the math, and assembling the right team of expertsthat will help them realize their investment goals.

About this title

About the Author

Brian Persaud, BSc, is a co-founder of REal Experts Inc., a company dedicated to elevating investor confidence in real estate and teaching powerful proven investment models that work. REal Experts became the embodiment of Brian's dream; as an investor and advisor, his workshops and personal consult-ations are met with great enthusiasm and proven results. Through networking with colleagues at the Real Estate Investment Network, and an inexhaustible amount of passion and energy, Brian continues to add to his portfolio of residential real estate, with an emphasis on condominiums in Toronto and the GTA. He is the host and producer of Inside Toronto Real Estate, as seen on Rogers Cable TV. Visit realexpertsinc.com for more information.Randy Ramadhin, Honours BA, is a graduate of the Rotman School of Business and possesses both real estate broker's and mortgage broker's licenses in Ontario, as well as the Professional Land Economist (PLE) designation. He is a veteran real estate investor, an advisor to investors on building their portfolio, and a teacher. Randy is former Chair of the Condominium Committee of the Building Industry and Land Development (BILD) Association; and founder of condoinvest.ca, where deals and knowledge are shared on all aspects of real estate investing. Randy currently serves as president of a condominium board and is also on the board of a 500-unit tower in downtown Toronto.

From the Back Cover

Lots of information has been published for those who wish to buy anew condo (known as a strata in BC) as a principal residence. Withregard to investing in condos, there is an unfortunate perceptionthat it is all about lining up to buy pre-construction units in a"hot neighbourhood" and flip them. Of course, people ignore marketconditions and fundamentals, and get caught up in a kind of masshysteria for which they will often pay a price down the road.

Condos represent a solid return on investment when purchasedaccording to a strategy, by sticking to fundamentals, by carryingout proper due diligence, and by having an exit plan. The purchaseof pre-construction condominiums is just as relevant in a realestate portfolio as owning freehold property. As well, benefitsfrom the vantage point of tax and estate planning can also berealized. Until now, there has not been a comprehensive treatmentof how to invest properly in pre-construction high-rise condos.

This book will give investors the nuts and bolts of undertakingsuch an investment. They will have the knowledge to proceed in amethodical way, with confidence, knowing they are asking the rightquestions, doing the math, and assembling the right team ofexperts.

Praise for INVESTING IN CONDOMINIUMS

"I teach people how to create a millionaire mind. This book is aperfect addition to teach you how wealthy real estate investorsinvest in condominiums, and the critical secrets to know beforeputting a dime in real estate."
—T. Harv Eker, author of #1 NY Times BestsellerSecrets of the Millionaire Mind

"A tried-and-true strategy that teaches buyers how to safelypurchase condominiums by conducting deep due diligence and marketresearch to ensure the fundamentals and building financials arestrong and sustainable. Brian Persaud and Randy Ramadhin show youexactly how to do your homework in a market that is often moreemotional than it needs to be."
—Don R. Campbell, author of the bestselling RealEstate Investing in Canada 2.0 and Secrets of the CanadianReal Estate Cycle

"You must read this book to understand what wealthy real estateinvestors are looking at investing in condominiums. Brian and Randyhave developed a very comprehensive book on factors that you shouldconsider before putting a dime in real estate."
—Robert Shemin, New York Times best-sellingauthor of How Come that Idiot's Rich and I'm Not?

"This book provides you with in-depth knowledge about purchasinga condo as an investment. From market economics to a builder'sreputation, and the financial and legal aspects of buying a condo,there is no better source of unbiased information to assist withyour buying decision."
—Scott McGillivray, Investor and Host and Producer ofIncome Property

From the Inside Flap

Is buying a pre-construction condominium a wise investment? Fromday to day, you will find differing opinions expressed in thepress, on the Web, and on investment shows on radio and TV. Thereseem to be so many cautionary tales and factors to consider, fromlocation and builder reputation to the economics of the deal.Although there are many differing opinions in the media andelsewhere, there is help to decipher all of these messages intofacts and create a strategy. Investing in Condominiums isdesigned to help investors make informed decisions about buying apre-construction condominium and understand the options surroundingan exit strategy.

As with any investment, you need to look beyond thehype—the slick marketing campaigns that developers use toentice customers. The investment model in this book is based ontried and true fundamentals and can be applied in any city andneighbourhood across Canada. You need to know the risks and thebenefits, and realize that buying a condo is a more complex processthan buying a freehold property. Condos involve a lot of the samefundamentals as freehold properties, but include other pieces ofthe investment puzzle including urban architecture, condominiumlaw, and much more.

To meet that need, Brian Persaud and Randy Ramadhin rolled uptheir sleeves to do in-depth research and comparative analysis ofmarkets and their trends, and of individual developments andbuildings. You will learn about the key aspects of lifestyleamenities, architecture, and construction quality. There iscomprehensive information on the purchase agreement, with examplesof clauses that strongly suggest that legal due diligence is amust. In addition, the authors interviewed top brokers, realtors,property managers, and investors to provide you with an insider'sperspective on condos and their viability as an investment.

A number of investment strategies are discussed, from flippingyour investment and buy-and-hold, to joint ventures and bulkbuying. Regardless of the strategy you choose, you need to make aninvestment in time to understand the economics of buying apre-construction condo. Investing in Condominiums is anessential guide to building that knowledge.

Edition details

• Publisher: Wiley
• Publication date: 2011
• Language: English
• ISBN 10: 1118043855
• ISBN 13: 9781118043851
• Binding: Hardcover
• Edition number: 1
• Number of pages: 304