You're welcome!

Thanks for your kind comment.

I know they just pop up everywhere... but at least you can live in them.

Exactly!

You're welcome I appreciate your comment!

Thanks much appreciated!

Thank you. I appreciate you watching the video and commenting.

You're welcome appreciate that comment and the like!

I'll do one and send it to you directly so you can have a look.

Yes they are and this isn't the only building! There are more like this and more coming.

I haven't yet but I could easily do this for you. You can reach out to me directly (just google my name) I can do one for you real time online so you can see how to use these numbers to come to a decision. If you're looking at it from an investment perspective I already know the answer to this.

No I can't but you can watch this one and it will help you design your own. I do give out this template at the end of part 2 of the video. kzfaq.info/get/bejne/b5qbac-h0JeqlGg.html

Thank you, if you bought precon early you should be fine because the price per sqft was low at the time and those units did appreciate quite a bit. The people who bought later are not as fortunate.

@@realestategame I bought in June '22 for $610k....not a precon , but I guess the prices were the same pre con as well

@@shashisonu9 Then you must have paid pretty close to top dollar but the market was coming down at that time so you weren't at the peak as that was in Feb/March. Are you living in it or renting it out? You should watch this video kzfaq.info/get/bejne/b5qbac-h0JeqlGg.html to understand the difference and to do your numbers.

@@realestategame I am renting it out, I live in Calgary 🙂

@@shashisonu9 Ah I see. Everyone seems to be going to Calgary but you came the other way...lol. If you hold long term that usually corrects all real estate mistakes.

I actually used to sell in Vancouver so I have people that I trust there. You can reach out to me directly and I can send you her contact info. I'm not sure if she does the numbers the way I do but she will give you the costs you need to be aware of when buying and you can just do the numbers yourself.

​@realestategame I am not sure how to contact you, I saw you LinkedIn on your youtube profile details. Just sent a connection, couldn't message directly for connection further than 3rd.

@@cynthiatjandra3297 Just google me and you'll find me. You can reach me through my website.

It's 55 mercer. Known as nobu.

Its pretty similar to all of them built after 2007.. its the numbers, not the place itself

Send me the details and I can send you an analysis.

@@realestategamewhere do I send

@@Cocomagoco Sorry I didn't see this message till now. You can just Google my name and find my website where you can reach me.

Lol... you know what's up.

As a Realtor you have a fiduciary duty to ensure that your client's best interests are before yours. So if you feel that buying a particular property isn't in the best interest of the client, you need to tell them. Whether the client listens to you or not is their decision to make.

@@realestategame and it's very respectable, thank you!

@@rossb7288 I appreciate that. It wasn't always this way. It's not easy to say something that could potentially kill the deal in the best interest of your client and lose out on a 5 figure commission. However, I've been blessed and at a stage in my life where it's not about the money anymore. It's easier said than done and I do understand the agents who don't because I was in their shoes before.

You can get a copy of another version in the description here - kzfaq.info/get/bejne/b6hdqdKFv7acn58.html

Yup I saw this coming too just didn't know when. I thought it was going to happen after 2017 but I called it too early and things went even crazier. After that lesson, I never tried to predict the longer term future of the real estate market again. You're right there won't be affordable housing anymore and the problem is just going to get worse once the interest rates come down. We are seeing prices coming down right now because of the high rates but there will be a point where buyers will start coming back into the market again. Then things will probably start all over again. Ultimately, people have themselves to blame. Any responsible person takes ownership of their own decisions. However, these bad decisions were definitely fueled by many real estate agents who didn't fulfil their fiduciary duty to protect their client.

@@realestategame Who would of thought that food and housing have now become luxury items.....Cheers.

Why blame the builder?

I believe that most buildings didn't make sense. You're absolutely right people don't like to take responsibility and usually look for people to blame. Depending on the Realtor and Builder they could be responsible if they gave misleading information or pressured the buyers to buy by giving false expectations.

@@johnly7688 I believe he meant that the buyers will blame everyone but themselves.

@@realestategameI am not a fan on flipping. With all the changes happening there is no profit. Real estate should be a long term investment. Now the hype on quick flip is over, hopefully people are sensible enough to know there are consequences when signing on the dotted lines, preconstruction associates with high risks. Perhaps u can do a show analyzing the different types of risks with preconstruction vs resales. invest in resale, you can feel and touch, you win in the long run.

@@Cckk756 Yeah me too. I never recommend investing this way as you develop bad habits. That's a good suggestion I'll do a future video to compare resale vs precon. Precon used to be good prior to 2018 but now a days the developers are charging huge premiums that don't make sense. Even resale is risky right now.

Thanks I appreciate that. I hope I don't come off as vindictive. I understand that its difficult to go against the herd, when there is excitement in the market, and FOMO kicks in we're human and we are all vulnerable to this. At these times, as an intelligent investor, that understands the numbers, you can hold your ground and not make investment mistakes. This is why I'm making these videos and making this my mission so that my viewers can be intelligent investors.

You are correct... it's very unfortunate and many people are losing a lot of money right now.

@@realestategame I'm a ma'am 🤣🤣🤣

@@Blakpepa 🤦‍♂

Yup that's what the numbers say...

I don't personally know who Condo Wong is but I do know that a lot of Agents are incentivized to sell everything and anything. Also it's really easy to get caught up in the hype and FOMO as we are all human. I know because I've been there. I know exactly what it's like on the other side. Therefore, it's important for you to know how to do your own investment analysis and understand EXACTLY what it is that you're getting yourself into. Remember the job of the agents are to sell. We're called sales people for a reason. Know how to play the real estate game.

he's a youtuber, yea I have researched real estate from bigger pockets realestate and the gta doesn't make sense. there are way better alternatives. issue is most older generation canadians are really stuck on it and push their kids into it as well@@realestategame

That one is still under construction so they won't be finished anytime soon. The ones that completed during the high interest rates will be the ones that have the biggest problems.

lol

It used to be good... 30% YoY growth happened but was not sustainable.

I've become more conservative with my numbers as this is my investing style so I have a very rigid formula that I use personally. I may miss out on some opportunities but if my numbers work and if I'm wrong on the appreciation rate then it's all gravy for me so I have nothing to lose! I don't know if you saw my previous video but I've been tracking the Toronto downtown condo market for the past 8 years every single week and based on my data a 1 bed median price appreciation was 4.62% and 3.09% for 2 beds. Keep in mind that this was one of the hottest periods ever for Toronto real estate so moving forward I don't think we'll be seeing such an aggressive growth rate plus I expect prices to come down even further. Also keep in mind that this is compounding every year so that really makes a huge difference. I spoke about all this in my previous video as well. The beauty of having a model is that everyone is free to use whatever rate they want to see how it looks with different adjustments to the variables. I always recommend that you be more conservative than optimistic. Most people have only 1 move when it comes to making a real estate investment so you want it to be your best move! I totally get what you're talking about with the inflation rate. I personally believe that it's actually a lot higher in reality as well because they mess with the numbers.

1. Historical data does not reflect the future. 2. Past performance doesn't guarantee that future performance will follow the same path. Considering that prices are decreasing month over month, a 2% appreciation prediction is quite generous. The demand for real estate is declining and more and more inventory is coming on the market every day. Developers can't even get enough buyers to the door to launch their project. Many people are losing money now.

@@Carolinapetroska I completely agree with both of your points. You really get it! That's why a straight line appreciation is a flawed model especially when you use higher rates because it's compounding the numbers become ridiculous yet many agents and people believe that's the way it works!

@sophielabelle3324 Everything always returns to normal. Everything reverts back to the mean. 5-7% price increase is the normal range for Toronto. It won't go much higher or much lower than 5-7% for too long. What is going on now is not normal. It's just because of what happened in 2020 & the government had to really open up their wallets. Now it's payback time. When payback is over, it will go back to normal. When will that time be? That's the million dollar question that I can't answer, but it will eventually goes back to normal.

@@mikethomas6715 While I agree with most of your points I can't agree with the 5-7% appreciation. I personally wish you were right because then my clients and I would become extremely wealthy! However, unfortunately that’s being a bit too optimistic. I have the actual data and the median price appreciation for 1 bed is 4.62% and for 2 beds it’s 3.09%. 

Also are you familiar with the rule of 72? If you take 72 and divide it by the interest rate, it gives you an estimated time it’ll take to double your investment. So for 5% it will take 14.4 years to double and for 7% just over 10 years. To get some more perspective, go take a look at the real estate price appreciation in London, Hong Kong and New York. I mention these cities because not only do they have one of the most expensive real estate markets in the world but they’ve been around for a lot longer than us so they’ve been built out for years. Plus the most important factor, they have a much larger population therefore, economy than us. Then compare it to the prices in Toronto. Then think about how realistic it’ll be for prices to double every 10-14 years in Toronto. Then I hope you’ll see where I’m coming from.

I just took exactly what was on the listing. I also add insurance & any real estate fees. If you pause it on the cashflow page you can see an exact break down.