Apr '24 • Deal Analysis
Is this a good deal?
I have a client who wants to buy a house for $2MM to rent out or 3 condos
He wants to park his money somewhere and is specific about the neighbourhood. Toronto does not have the best cap rates, but I am trying to steer him away from a $2MM single-family residential (rent does not make sense) and condos since the cap rate is even lower. What are your thoughts based on these calculations, would this be considered a decent deal? He would be ok without it being completely cash-positive, so with the mortgage, he would be out a little monthly, but is also looking at the long-term hold and appreciation. Would love feedback on the way I did my calculations, as I am still a rookie at this.
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Is this a good deal?
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