If Toronto's condo market is headed for signifcant correction, there are still some safer spots within that market for investors to consider, says Adam Brind, with Remax Condos - Core Assets Team,
Video transcript below:
Is there safe ground in Toronto’s condo market?
Adam Brind, Agent, Remax Condos, Core Assets Team
So generally speaking when I meet with investor clients for the first time, what we like to do is, is this very typical to any advisor, we like to get their or me personally, I like to get their goals and their idea what kind of investor are they.
First and foremost, we like to determine you know whether they are for capital appreciation or they are for long term persisting growth, so value investor or value player. And so that really helps me to determine which direction and where to put them in the market. But generally speaking, real estate tends to be a long term play for people.
And if it is that, I use the advice and go into good teak buildings and the reason being is because I find that neighbourhood buildings the ones that are low rise tend to create a community and they tend to be more in demand. They are a well taken care of building and what they create is an eco-system within that building. Well you find in the high rises that are, you know primarily rental, renter-owned is that they are a bit transient.
So you know neighbours don’t get to know neighbours. So it’s a, it’s tough because you know in one sense you are telling the investors to invest in the building that’s not investor owned. But those usually are the best ones. And so, but at the same time you know if I meet a investor client and client tells me that they are, you know that they are just for capital appreciation and looking to sell [an assignment] or looking to sell right after registration, we might look at some different buildings, but generally speaking I work with clients that you know want to buy, want to rent for long term and they want to see the capital appreciation over an extended period of time and they want to be cash flow positive and those you know quite frankly come from those great teak buildings.