Hey Guys,

Came accross this site when I was doing some research. I was looking into investing in real estate and wanted to get some possible good investments in the toronto area.

I was looking at the trump toronto (hotel unit) but not sure about that right now... as it seems very risk.

Maybe someone can suggest some other places to look or if the trump tower will be good.

GenX

I was looking at the trump toronto (hotel unit) but not sure about that right now... as it seems very risk.

Smart move.

Here are a few sites which may be of interest if you decide to purchase a new condomium.

http://www.dabrowski.ca:8000/UrbanDB/Lists/Current_Projects/AllItems.aspx
http://www.condolifemag.com/projectlinks.asp

Good luck on your quest.

the first link didnt work.... could you paste the information.

The second link didnt show anything about trump tower...

thanks
genX

Trump Toronto has been criticized as being too expensive. Although the price ranges are in line with their other developments, such as in New York, critics question whether such a pricing strategy can be transplanted into Toronto. In fact, Trump's premium is much higher and "less reasonable" compared to the other residentials under construction in the area.

The market has risen a lot in the past few years. If you're an American investor, not only do you have to cope with an unfavourable exchange rate, you also should be careful when investing because Canadian interest rates have bottomed out and are likely to go up in the near-term.

GENX -

http://www.trumptoronto.ca if you are looking for information about Trump Toronto. If you have any other questions, I can be of assistance. Here is a link to an FAQ page that may help to answer some questions you may have:

http://www.trumptoronto.ca/faq/trumpto_faqh.html

Regarding the pricing for Trump Toronto, yes, it is on the high-end of condominiums in downtown Toronto. However, it is on par price-wise with smaller developments like One St. Thomas and The Winston. Other than the great views and the Trump cachet, the unique difference with Trump International is that it will have the services and amenities of a five-star luxury hotel on floors 11-31, with The Residences on floors 35-70 (as a resident you also have full access to the hotel's services and membership to the two-level 18,000 s.f. spa on levels 32 & 33).

The hotel condominium suites start at 570 s.f. and $662,000 and The Residences start at $1,598,000 and 2,226 s.f.

"Came accross this site when I was doing some research. I was looking into investing in real estate and wanted to get some possible good investments in the toronto area.

I was looking at the trump toronto (hotel unit) but not sure about that right now... as it seems very risk. "

And you came up with Trump? If your plan is to buy and than quickly sell after registration (flipping) than I'd advise to stay away from real estate altogether.

"Came accross this site when I was doing some research. I was looking into investing in real estate and wanted to get some possible good investments in the toronto area.

I was looking at the trump toronto (hotel unit) but not sure about that right now... as it seems very risk. "

And you came up with Trump? If your plan is to buy and than quickly sell after registration (flipping) than I'd advise to stay away from real estate altogether.

feeling a little hostile are we? :weirdo:

If it's purely for investment purposes, with the idea of renting it out for an undetermined period of time, then I'd say go for location...either an already popular area, or one that will be very shortly.

If you want to spend the big bucks, I wouldn't gamble on Trump at all...I still say the financial District is iffy. The Regency or One St Thomas in Yorkville has the same pricing as Trump, and is selling well (already started construction).

And trust me, if you are trying to capture the chic "jet set" demographic, you will hook a lot more with Yorkville than Bay & Adelaide.

Also, in the more down-to-earth area, the hot condos will be the ones with direct subway and shopping access. The Residences of College Park...Ultima...Minto Midtown. These are well-priced projects, but have the added bonus of being able to access shopping and the subway without leaving your building....I would not underestimate this bonus...there's nothing like not needing to even put a coat on in the winter to head to your office downtown, or go do some grocery shopping. And it doesn't matter if it's downtown, midtown, or even uptown....there are plenty of people who prefer all of them.







KGB

Trump's dump is a disaster waiting to happen--as are all his projects worldwide. There are only so many orthodontists from Hong Kong, after all.

Im looking to rent out the unit and hopefully paydown the morgage, If i can break even then all is good.

Sorry Trumptoronto but,

If one were to purchase a unit in the Trump Tower, what guarantee does that purchaser have that the Trump Tower will finish on time?

$100,000 in the form of a downpayment is a huge commitment, and if the development is delayed or cancelled, it will affect the cost of money along with the ROI for that investor. It's this lack of transparent which may be scaring many investors away.

Talon now has a credibility problem, so please save us the "unique market" jingle. No one is really buying the constant marketing theme that the Trump Tower is somehow in a "market upon its own." Most companies do that to inflate their selling price of a product. It works but anyone looking for a million dollar investment would know better. As a result, it's insulting the intelligence of your potential buyers.

It's a residential hotel in the heart of downtown Toronto, not unlike Stinsons' developments. This is why potential purchasers have also been checking out the Sapphire tower. Stinson may be piggybacking off Trump's marketing, but it's working as we can see from his public sales figures, and that's the bottom line.

Notice I been saying "investor." If I were an investor, how would you address the concerns I brought up? Why should I put my money with Talon investments, and how do I know the Trump Tower will actually get built, instead of having my $100,000 returned 5 years from now – at a significant opportunity cost. I'm not interesting in any marketing gimmicks. I just want to make a profit and for that to happen I must take an interest in the tower beginning construction and finished by the completion date listed in the contract. Ontario law allows for these dates to be pressed back which would again affect my ROI.

So once again, as an investor, how would you address the concerns I brought up?

I'm sure there are people who will be more than happy to buy a Trump unit...either the hotel units or the residential condos.

But if you're looking for the best bang for your condo investment dollar, Trump is almost definetely not it. Equity growth and high maintenence will ensure that.

In fact, the smaller the unit, the bigger the profit. Maintenence fees are based on square footage. Just pick the buildings carefully...buy smaller one bedroom units...with at least one of them, experiment with renting it out fully furnished...and make sure you furnish it well...the huge increase in rent more than pays for the furnishings. If it works out well with it, you can fully furnish the other unit(s). Furnished units are scarce, and rent for almost double the rent of unfurnished units.






KGB

Im looking to rent out the unit and hopefully pay down the mortgage, If i can break even then all is good.
Advice --TURN TAIL AND RUN!!!
With interest rates so low, all of your possible tenants will either:
1, buy there own property instead of paying down your stinking mortgage (which helps explain increasing vacancy rates-- landlords are having the 'gun to the head ' now, instead of the other way around. "I'll pay my own damn mortgage!" etc.
2, NO WAY DOES IT WORK - especially if you think you'll be as a successful absentee landlord-- Cityplace, One King West, and Sapphire have a 'rental department' where - for a fee, they'll be your landlord.
3, There is a huge boom of condos in all the best location-- which means, on the one hand, there is demand, however, on the other hand, there is a constant stream of new development to meet that demands, which, as the supply is increasing with demand, the expected increase in price is either not happening, or the increase is not as high as one might otherwise think.

If one were to purchase a unit in the Trump Tower, what guarantee does that purchaser have that the Trump Tower will finish on time?

As you know, with any development, especially one of this size, it is difficult to pinpoint a specific completion date--we're aiming for 2008/9. Several things have to be in place prior, including at least 50% in suites sold, financing and of course, construction progress. Realistically, it will take about 3 years for the building to be constructed.

$100,000 in the form of a downpayment is a huge commitment, and if the development is delayed or cancelled, it will affect the cost of money along with the ROI for that investor. It's this lack of transparent which may be scaring many investors away.

Yes, the opportunity cost is a risk if you are in it for a short term gain only. Granted, your deposit does earn interest while sitting there... same as if it were sitting in a savings account. But like any investment, your largest gains come from holding it for a few years. As with any real estate property, we can't make guarantees on your ROI... we can only look to what happened at the New York Trump International since it opened in 1997. And with the hotel suites in particular, residents can potentially earn enough net revenue from the hotel condominium rentals to cover their mortgage payments.

Talon now has a credibility problem, so please save us the "unique market" jingle. No one is really buying the constant marketing theme that the Trump Tower is somehow in a "market upon its own." Most companies do that to inflate their selling price of a product. It works but anyone looking for a million dollar investment would know better. As a result, it's insulting the intelligence of your potential buyers.

Talon has a credibility problem? Why do you say this? Yes, it is true, the development team was formed specifically for this project. And yes, it is true, this is the first major real estate development for Talon in Toronto. Developing a building is not rocket science (architectural design and engineering for a building like this though, comes pretty close). It takes a great deal of thought, money, careful planning and the collaborative efforts of many. However, Talon has done everything neccessary to get the building to this stage, including a lengthy and well thought-out design stage, engineering, legal, the support of the City, zoning approval, OMB approval, a fantastic partner in the Trump Organization and now, owning the land where the building will sit.

This building IS unique to Toronto. There is nothing to compare it to. There simply isn't another 70-storey, luxury hotel & residential property in Toronto. And please, don't point to Sapphire. It isn't built yet. And no disrespect intended, Stinson does not yet have any experience operating a five-star luxury hotel like the Trump Organization does. He has yet to prove his concept works in actuality.

With a Trump property, there is a certain standard of luxury and elegence that is expected. There is no intention to insult the intelligence of potential buyers. This IS an expensive building, with top-of-line finishes and fixtures, five-star services and amenites, and though priced towards the high-end of Toronto properties, is comparable on a sq. ft. basis ($690 to $1,200 CAD) to other high-end Toronto residential properties.

It's a residential hotel in the heart of downtown Toronto, not unlike Stinsons' developments. This is why potential purchasers have also been checking out the Sapphire tower. Stinson may be piggybacking off Trump's marketing, but it's working as we can see from his public sales figures, and that's the bottom line.

They are two different kinds of properties aimed at two different markets. Yes, the prices at Sapphire are much less than what Trump is selling. I wish Stinson all the luck in the world. But honestly, look how long it took to sell and build One King West. Stinson is selling a 1000 suite property. How often do you think a Stinson/Sapphire, non-internationally brand recoginzed name suite will be occupied vs. a Trump International hotel with only 265 suites. People who have stayed at a Trump International know what to expect and love it. And, if Sapphire is succesful in running it as a hotel property, it will take a few years to build up a steady occupancy rate with that many suites.

Notice I been saying "investor." If I were an investor, how would you address the concerns I brought up? Why should I put my money with Talon investments, and how do I know the Trump Tower will actually get built, instead of having my $100,000 returned 5 years from now – at a significant opportunity cost. I'm not interesting in any marketing gimmicks. I just want to make a profit and for that to happen I must take an interest in the tower beginning construction and finished by the completion date listed in the contract. Ontario law allows for these dates to be pressed back which would again affect my ROI.

All we can point to for Trump Toronto is what happened at Trump International in New York and now Chicago. Since 1997, resale prices in Trump International in NYC have now jumped to $3000 a sq. ft. Since the September 2003 sales opening in Chicago, prices have appreciated 100% (started at about $500 to now over $1000 a sq. ft.). Is doubling your money appealing? I wish I had been able to buy early in Chicago. What Trump International has done has worked well elsewhere. It is our hope that the concept works equally well in Toronto. As I mentioned, though dependent on many factors, the current target date for completion is late 2008.

So once again, as an investor, how would you address the concerns I brought up?

Well, as a person who is employed by Talon, no-one is going to blame you for advocating the project....although you also can't blame anyone for seeing the bias.

Sure, the Trump building represents a small amount of units that I am sure there is a market for...they will sell, and the building will be built.

I also don't see the value in comparing the Manhattan market to the Toronto one. What's the average price of a condo there...a million dollars? Even studios can sell for a million bucks. Are Trump condos in Manhattan expensive because of Trump...or just because it's manhattan? I mean, the most exclusive, most expensive, most stylish residences in Manhattan are certainly not Trump units.

Trump buildings are successful in Manhattan not because they say Trump on them, but because they are simply in Manhattan...a market that is limited to nothing but expensive units....that's why Toronto outsells Manhattan in condos many times over...the market isn't as limited.

Fit and finish of Trump units???

Hell, a $150k Toronto condo generally has as good or better fit and finish. You can go on about Sub Zero fridges all you want....but anybody can go buy one and stick it in their kitchen...things like that simply don't justify the prices. And the location? well, I dunno, but like I have already said, the Financial District of Toronto is a very intried location for the wealthy to live...might work...might not. But I would take my chances with places like Yorkville or the true stomping grounds of the wealthy Torontonian....Midtown.






KGB

"With a Trump property, there is a certain standard of luxury and elgence that is expected. There is no intention to insult the intelligence of potential buyers. "

This is all the more hilarious given the fact that you managed to spell "elegance" incorrectly.

I didn't know that this forum was open to corporate shills. May I be the first to interest any of you in a very fine Gothic Revival bridge connecting the up-and-coming borough of Manhattan to the quaint pastoral village of Brooklyn Heights.

Look, Trump must provide a better product in order to justify the higher price - you pay more for a Bentley than for a BMW (even if they are made by the same company --- I think they are...) Some people pay half a million for a car.. some pay around a million Canadian. There is no way there's half a million dollars worth of parts, leather, whatever, in any car. Still, some people spend huge bucks on cars (and when it comes to sports cars, they are freaking known to be 'finicky')

POINT: 1 Bentley must offer more than BMW, otherwise, nobody would buy them. Trump offers more than other real estate investments, otherwise, nobody would buy them.
POINT 2 Trump has cut an exclusive niche for itself. I'm sure the building will do fine. There is only one Trump -- and that's fine.
POINT 3 The biggest problem with Trump is whether or not it is an 'investment' driven building. I'm not sure whether one would want to buy a unit and hope to rent it out -- and, being an absentee landlord would be a 100% non- starter, -- you'd need professional management. It is clear on the face of it that one could buy a home with the cost of renting in the Trump tower -- and a real deal, non - crap home.

QUESTION: Is Trump a hotel? A condo? What's its niche?

"POINT: 1 Bentley must offer more than BMW, otherwise, nobody would buy them. Trump offers more than other real estate investments, otherwise, nobody would buy them."

What, precisely, is this "more?" As KGB points out, any idiot can buy a sub-zero fridge. The "more" certainly doesn't consist of impeccable taste, as there's not a structure Trump has touched that's not been ruined with ten thousand tons of imitation brass.

"POINT 2 Trump has cut an exclusive niche for itself. I'm sure the building will do fine. There is only one Trump -- and that's fine."

The same could be said, inasmuch, for Hitler. Your point being?

Personally myself, if I were to invest, it would be in a building like this

http://www.piedaterreinavondale.com/

New, Inexpensive, Practical, and a name that has proven to deliver Quality. It also caters to those that like owning a good brand name, and imho, I've seen both builders definition of quality, and I think Mr. Baghai's units are much a better buy.

In my opinion, something like that would have the most returns, which is probably why almost half the whole building sold out within the first couple days. (not confirmed, only heard the rumor) I went myself after 2 weeks, and there were only a few units left.

In fact, the level of quality, and luxurious name is why I have purchased a loft in this area to make my future home in about a year when it is complete. http://www.oneavondalelofts.com/


There are rumor circulationg about Mr. Baghai purchasing some land around downtown toronto, and some close to UofT. A Pied-Tier type building close to UofT would be an excellent investment, given its building characteristics and pricing are similar to what he has planned for the North York plans.

"POINT: 1 Bentley must offer more than BMW, otherwise, nobody would buy them. Trump offers more than other real estate investments, otherwise, nobody would buy them."

What, precisely, is this "more?" As KGB points out, any idiot can buy a sub-zero fridge. The "more" certainly doesn't consist of impeccable taste, as there's not a structure Trump has touched that's not been ruined with ten thousand tons of imitation brass.

"POINT 2 Trump has cut an exclusive niche for itself. I'm sure the building will do fine. There is only one Trump -- and that's fine."

.... Your point being?
... that if people didn't like it - incuding tons of imitation brass - or saw a plus side to it- they would not be out boatloads of money to buy it! But they are! So... that Trump guy must have something figured out. OK, I'm not buying. I'm not buying a half million dollar car either. But, hey, you want a flat downtown to go with your Rolls, then Trump might be the place for you....

"With a Trump property, there is a certain standard of luxury and elgence that is expected. There is no intention to insult the intelligence of potential buyers. "

This is all the more hilarious given the fact that you managed to spell "elegance" incorrectly.

I didn't know that this forum was open to corporate shills. May I be the first to interest any of you in a very fine Gothic Revival bridge connecting the up-and-coming borough of Manhattan to the quaint pastoral village of Brooklyn Heights.

Flatiron, gimme a break. So I had one typo on a forum post. Jeez. Of course I know how to spell elegance correctly. Lighten up.

The reason I visit this forum is because I love this building. I truly want to see this building be built. I don't gain anything from it financially. Just the pride in knowing I played a role. With the rumors that float around, I also feel the need to inject a bit of truth when I can. You can choose to believe me or not.

Shane Baghai is a developer who managed to scam a rep by building nothing but mediocre, cookie-cutter McMansions for people with lots of money and no taste.

Ok...his ravine Watergarden condo building is very nice...an Arthur Erickson designed building....but that was a partnership with another developer.

Look...I'm sure there are 265 or whatever people in the world willing to buy into the Trump mystique...or just like the idea of a 1000ft+ skyscraper in the middle of the Toronto financial district.

But when they are all sold, will their value all of a sudden soar? Who knows...I doubt it though...like I said...there are better bangs for your condo investment buck. I would bet my money on units in buildings and locations where people really want to call home.

I forgot to mention lofts...the real ones. I would suggest Tip Top...14 foot ceilings, magnificent art deco building, magnificent location on the downtown waterfront....and by a truly great developer (Context). The people who paid $300/sqft for these units are going to make a killing.

True lofts are unique and there aren't that many of them...far below the demand.

Look at this model suite....much more stylish that Trump, and tons cheaper....



http://www.context.ca/pages/images_large/tiptop_modelsuite_J.jpg

http://www.context.ca/pages/images_large/tiptop_modelsuite_A.jpg

http://www.context.ca/pages/images_large/tiptop_modelsuite_D.jpg







KGB

QUESTION: Is Trump a hotel? A condo? What's its niche?

Are Be, Trump International is both. Trump International Hotel Condominiums are on levels 11-31. They are managed by the Trump Organization, the same as the Trump International property in New York (http://www.trumpintl.com). They are essentially furnished luxury condominiums that are rented out by the property as part of the five-star hotel. You can stay as little or as much as you'd like. When you're not using the suite, you earn revenue from it when it is rented by the hotel. The hotel condominiums are definitely investment real estate, without the hassle of managing your property. The bonus being that you always have a fantastic place to stay to call your own (with an in-suite secure owner's closet to store your personal belongings) when visiting Toronto. A plus for the frequent business traveler.

The Residences at Trump International, on levels 35-70 are traditional residential condominiums. However, because you live above a five-star hotel, you can also use all of the services and amenities of the hotel, including 24-hour room service. Jean-Georges at Trump International in NYC is a five-star restaurant, and we hope to line up a similar-caliber chef in Toronto. The Residences also have security-controlled direct-elevator access into your suite, and there are never more than four suites per floor (and no hallways). Each residence also has a separate service entrance to ease for entertaining. The Residences also have 11-13 ft. ceilings and up to 22 ft. high floor-to-ceiling windows in the bi-level Skyplex Residences. The Residences are a lifestyle choice, not just primarily as an investment.

^^ Now something like Tip Top is an investment. I passed by the place the other day. It really doesn't get better than that.

Context does AMAZING work, although I am more than a little skeptical of Home condos.

Question.

In general, what are some of the average rental prices for a nice condo in T.O.

Shane Baghai is a developer who managed to scam a rep by building nothing but mediocre, cookie-cutter McMansions for people with lots of money and no taste.

Ok...his ravine Watergarden condo building is very nice...an Arthur Erickson designed building....but that was a partnership with another developer.

KGB

Whatever it may be, the post is regarding investment.

Fact is, a Shane Baghai biulding, home, condo, whatever, will hold its value better, and have the prestige factor higher than most buildings here in Toronto (aside from Trump maybe).

If you look thru homes and condos thru MLS listings, if it is built by tridel or shane baghhai, it will say it in the listing, and it will be the first thing they write. Reason being names like Shane Baghai, Tridel, sell people on real estate. And as long as we have real estate agents that are always exagerating the prestige factor of a Shane Baghai unit, the biulding will always hold its value and then some.

I personally am not very fond of certain interior designs of the mansions that he has built, but all of his condo buildings so far have been a great success, and very high quality.

Residence of Avondale are beautiful tall buildings, the Mansions of Avondale, 9 Jackes, Watergarden, I haven't seen any residential buildings yet from Mr. Baghai that have lacked in any department respectfully.

Shane Baghai's name was built with his positive reputation HOA, which by many people is the best way to measure how good a builder is. Last I heard he was still the biggest Luxury Custom home builder in all of North America

With all that said, the point I brought him into this discussion was to show that you can make smart investment moves with local prestigous "high end" builders that may charge less than trump, though still have a good return on a quality product.

"Context does AMAZING work, although I am more than a little skeptical of Home condos."


In what way?

I think Home might be one of the best condo buildings in town...again...not cheap, but given the design and location, it is a bargain...those units will skyrocket. The reason? Little boutique building with a fantastic location that can't really be duplicated....the front of the building is only 5 floors along trendy Bloor West Village, and the back of the building cascades down a small ravine that borders High park....I can't think of a building with a more different front and back...it's outstanding...have you seen that little country road at the bottom? And for urban friendliness, the subway is across the street. And you have the cashe of Swansea.

Can't beat that.






KGB

Question.

In general, what are some of the average rental prices for a nice condo in T.O.
Whatever they are, (check www.thestar.com for the classified ads) you'll be hard pressed to follow the 'buy one unit in an average building, be an absentee landlord (without someone to manage the unit for you), and have the tenant carry the costs" model -- certain failure-- absolutely certain.
Interest rates are low: all your potential tenants paying average rent are buying condos!

"Context does AMAZING work, although I am more than a little skeptical of Home condos."


In what way?

I think Home might be one of the best condo buildings in town...again...not cheap, but given the design and location, it is a bargain...those units will skyrocket. The reason? Little boutique building with a fantastic location that can't really be duplicated....the front of the building is only 5 floors along trendy Bloor West Village, and the back of the building cascades down a small ravine that borders High park....I can't think of a building with a more different front and back...it's outstanding...have you seen that little country road at the bottom? And for urban friendliness, the subway is across the street. And you have the cashe of Swansea.

Can't beat that.


KGB

As an investment, Home is a sure bet. It's, as you say, literally across the street from the subway, less than a minute to the park and maybe two minutes to Bloor West Village. And that country road, I think, is a charming treasure. So, even if it was a slab, it would skyrocket in value. And that's my problem, the design is very, very ambitious. Context has not disappointed before so that's why I'm confident, but I'm skeptical because it's just such a totally demanding style. I hope they pull it off.

"I'm skeptical because it's just such a totally demanding style. I hope they pull it off."


Well, there were no "cheap" units in that building...they could afford to not compromise on anything. But...man, did they take a giant hit on that building...the NIMBYs really tried their hardest to kill that building and delayed and increased costs by so much that I doubt Context is going to see as much profit on that one....what a nightmare it must have been for them.

But even if it turns out to be a money pit for them, it will still be a feather in their cap...they have one of the best track records of any developer.






KGB

^ this is especially interesting since Home is at the right place and is obviously designed with care. Maybe NIMBYs should have tried a little harder when the architecturally rock bottom apartment blocks across the street were being erected all those years ago instead of hassling Context on an actually worthwhile project.

"be an absentee landlord (without someone to manage the unit for you)"

What "management" is needed in a condo that is already managed by the condo corp itself? There's really nothing for you to do personally as a "landlord".





"and have the tenant carry the costs" model -- certain failure-- absolutely certain."


Because mortgage rates are so low, it is very possible for rents to carry mortgage and maintenance fees....just depends on the amortization period of your mortgage. Depending on how well you invest, you can even have a positive cash flow.






"all your potential tenants paying average rent are buying condos!"

Well, clearly they all aren't, since people are indeed renting plenty of them.






KGB

-Um, no.
You need to manage the TENANCY, not the building- my fault for not being clear.
The fact is, rents are FALLING as supply - in the form of new condos that investors hope to rent out to cover the costs - is increasing-- good for tenants!
The fact is, every day, more and more people are leaving large apartments for tiny condos- why? For the same cost, they can OWN instead of rent!
The truth is that it is harder and harder to get good tenants theses days--- they're all buying condos! (OK, sure, there are freshly minted professionals and newly weds that rent for a year or so, but many are buying why interest rates are low- fact is, lower interest rates is making home ownership possible for more-- a good thing. And buildings have more 'owner occupied' units -- again, a good thing.
POINT- Buying a unit and expecting tenants to cover the costs is simply not as freaking fool proof as it used to be.
I think Trump and Sapphire are sure bets for such a model, Cityplace, Waterclub and Waterparkcity more moderate risks. Anywhere else-- I'm not so sure.

Would you guys go with 2 units around the 300000 range or just buy 1 unit at Trump.

I have been looking in to all the suggestion people have been suggesting... thanks...

Its hard to decide.... I guess I need to do more research...

I would prefer to buy preconstruction as hopefully the value rise as its being built.

Buying pre-construction is also good in that you only need to find 25% of the financing. Buying a $660,000 unit in Trump means coming up with $165,000 over the next two years (assuming Trump is following what most Toronto developers require). You would have have to come up with the rest in 2008/9. Assuming you now have $300,000 you could actually buy two Trump units now. And then you would have 4-5 years to get financing in place for the remaining 1 million or so dollars.

Assuming that what TrumpToronto said is true about the Chicago units doubling in value you could almost get away with getting one unit for free. Once the building is completed sell the second unit for double the amount that you paid for it and walk away with first unit for nothing. A lot of if's but that is one way to make money from real estate.

That's what I would do.

Hey People.

I have been searching for the last couple of weeks and went and visited some sites.

I am currently deciding between London Lofts (st lawerence market area) or Minto.

Anyone have any feedback on these, also anyone have any other place worth checking out.

GenX

The second phase of Minto Midtown should most likely start sales this spring or summer.

A very high quality project in an excellent location with little competition from other developers in the immediate area.

Located at Yonge/Eglinton

Upscale buildings like Minto Midtown are great choices. Anything upscale in the St Clair, Eglinton, Spadina and Bayview areas are good picks. All those rich North Toronto, Forest Hill baby boomers are starting to hit their downsizing stages. And I'm sure they'd like to stay in their area. And like Mike said these projects have little competition, in stark contrast to areas like City Place or Harbourfront.