A Beginners Cheat Sheet to Toronto Condo Investing

Connect Asset Management

Getting started in a new real estate market can be daunting. If you’re from a smaller market, Toronto condo investing can be overwhelming. And, at times it is.

But not to worry. CONNECT Asset Management has you covered.

Getting started in Toronto condo investing is easier than you may think. In this article, we’ve prepared a cheat sheet for investors who are looking to dive into the wonderful world of Toronto condo investing.

Getting Started in Toronto Condo Investing
Spend a few hours researching the various Toronto areas to get a feel for the market, and the type of condo you want to purchase.

Even if you’re in the market for pre-construction condos, which we certainly prefer, see what condos are currently for sale; their amenities, designs, locations, and most importantly, prices.

Virtual Reconnaissance
Yes, that’s right. Reconnaissance your area with…Google Maps. Sounded way cooler than that I know. But stay with me.

You can use Google Maps to gauge how marketable your property will be, what commercial amenities are in the area, and get a feel for the surrounding area with Google Street View.

Ask yourself these questions: Is your property near shopping centers, schools, or other amenities? How long would it take to walk or drive to the nearest grocery store? These factors will affect how marketable your condo will be to tenants and for resale value.

Toronto Police Crime Statistics
The Toronto Police Service has free resources to map various crime indicators in Toronto neighbourhoods. You can check properties you’re looking at against some of these important indicators.

Toronto Life also has some great crime-related information on various Toronto neighbourhoods.

Investor Trip
It’s never a bad idea to visit the place you’re investing in. Toronto may be a bit of a hike for some of you, but you won’t regret it. It is, after all, a world-class city.

Jump onto Expedia and pack your bags!

Think of it as an investment trip. You’re researching the city you may invest in after all. Once you’ve seen the CN Tower, the Aquarium, and done all the touristy stuff, it’s down to business.

You should visit specific Toronto neighbourhoods that have a good reputation for your target tenant profile. Unsure of which neighbourhoods would be a good fit for you?

Resources and Your Dream Team

By far, the two most important resources any beginner or out-of-town investor can leverage are knowledge, and an on-the-ground team.

Now, for your dream team. Any successful investor or entrepreneur will say the same thing about their success: they surrounded themselves with people more specialized than them. Why would you spend years becoming a Realtor and getting to know the Toronto real estate market intimately, when you can simply connect with a local Realtor? You get the point.

There are so many real estate professionals you will need to add to your team. Obviously, we are biased, and suggest you connect with us as we have an amazing team of Condo experts and professionals working with us.

While getting involved in the Toronto condo market may be a little daunting, if you do your homework and prepare yourself, you’ll find it’s not nearly as intimidating as it first appears.

And once you’ve taken the plunge the first time, it becomes easier and easier with each investment. Plus, if you’re using any of them as short-term rentals, you’ll always have a place to stay when you come to the city. Good luck everyone!
 

Connect Asset Management
http://connectassetmanagement.com/

Connect Asset Management works with clients to secure high yield investments in the pre-construction condominium market.  We work with you to establish a real estate portfolio that will work for you leading up to and during your retirement.

How does it work?  We negotiate with the industry’s leading developers to secure deep discounts reserved exclusively for our clients.  By promising a high volume of sales in a short period of time, developers extend exclusive incentive packages to us that we can then pass on to our subscribers.

We are committed to getting you the best units at the best prices at the best projects.  In an attempt to bring transparency to an otherwise muddled industry, we take a data-centric approach to providing you with actionable insight into the world of condominium investing.

For more info, contact:
Ryan Coyle, Co-Founder
CONNECT Asset Management
(416) 800-9272
admin@connectassetmanagement.com