Thread: Real Estate Toronto Rental

I'm planning on purchasing one or few properties within the next six months or less near York University, located inside the York Village. I'm currently unable to purchase the property by myself so I'm looking for a partner or more to purchase the properties. Houses range in 600-900 k and come with 4-5 rooms with finished basements with additional two rooms. Leasing would be only through students, females will be preferred. Rental range can be anywhere from 400-600 per room. Thus, a 6 room house can bring in at least 3,000 a month. I'm a mortgage agent so I can go into the finances into details as well if someone is interested. If someone is interested please let me know and I can go into further details.

I wish you luck in this market, my grandfather recently lost a bid for a house there by $1K so it was close but same thing, $600K+ house, 7 female international students with 8 available rooms. Solid investment because as York U grows so does the property value in the village, I know some slighty older residents that reside there because of the party scene in the summer LOL .

Originally Posted by hamza7

I wish you luck in this market, my grandfather recently lost a bid for a house there by $1K so it was close but same thing, $600K+ house, 7 female international students with 8 available rooms. Solid investment because as York U grows so does the property value in the village, I know some slighty older residents that reside there because of the party scene in the summer LOL .

I know these properties are like hot cakes, as soon as they come on the market they are usually gone within 3-4 weeks. But this is a great investment nevertheless because the subway will soon be built connecting York University to the Yonge subway line which will add a lot more value to the homes.

sounds like a solid investment...good luck with it!

Just like shhs0173 posted, these real estate business will have a greater scope in Toronto area. You don't need to wait long to double up the money you invested. Recently I heard about an organization called MAC suites. I think, they can help you with this.

Me thinks profit margine is too low and it will take 10-15 years to get ur investment back and thats if nothing goes wrong

So what exactly are you proposing to the potential investor. That he purchases all the properties and you get him a mortgage which you receive 80 basis points for?

Would you be putting up any of the capital yourself?

^I think its a split, shh puts in some and so does the other investor. For me, I wouldn't invest in a decade+ agreement with somebody I didn't know. Unless it's family.

Solid investment and idea. I'm in the same boat, but don't go for a 600-900k house. Go find something in durham, or barrie etc for 300-500x6 students paying 400-600/month. Thats how we do it, it pays off much better.

Good Luck.