Quote:
Originally Posted by ranchlandsselling
Also most of the people who think "buy a condo for investment" aren't thinking long term. They're thinking capital gain and flip. Because it's been drilled into their heads by people they know, HGTV, and watching Calgary's market soar over the last decade. In 5 years any profits they may have had will be eaten up by realtor fees as they're suddenly wishing they could get out of it, devoured by a special assessment (or not) or some major repair, applaince replacement, or whatever else.
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I don't know if I agree with "most people" thinking flip, but I'd probably agree that most of the people becoming aware of real estate investing in Calgary in particular probably do. Everyone I know that was investing in real estate before the big run up is derisive towards those people, and everyone I know that came to it during the run up either falls into tat category, or has been beaten out of that category by getting into a bad situation
But yeah have to think longer term and include maintenance fees, mortgage paydown, appreciation, vacancy rate etc etc.