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Sq footage - 2723 sq foot
Price - $1245000
Deposite Structure.
$2,000 on signing; 5% in 30 days; 5% in 60 days; 5% in 90 days; 5% upon closing
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P.S.
The most important factor in purchasing an investment condo used to be how significant the monthly surplus of cash flow was. In other words, the difference between your monthly carrying costs (mortgage, condo fees and property taxes) and the rent you were receiving. Today this difference is still important but almost always works out to a negative number. Therefore, today, the most significant factor when looking at an investment condo is the appreciation factor.
The first rule of thumb is that the safest place to invest in a condo is in the downtown core. If you're renting to just one person your goal is to find the cheapest unit available in the best location and building possible. The reason for this is that, despite small variances in purchase price due to age, finishes and amenities, the difference in rent can be zilch. There are units that will sell for $200,000 and those that will sell for $250,000 but yield the same rent.
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