Buy a unit for $329,000 with $30,000 in extra upgrades to give it an urban look.
Live in it for 2 years
Rent for 18 months
Sell it 9 months later for $317,00
Once real estate commission and all other expenses (i.e. lawyer, mortgage discharge), even considering the surplus income from 18-month rental period, near $40,000 lost.
Fantastic negative return on investment over 4 years.
Lots of lessons to learn from this misadventure.
Waterloo, Ontario - Canada
Live in it for 2 years
Rent for 18 months
Sell it 9 months later for $317,00
Once real estate commission and all other expenses (i.e. lawyer, mortgage discharge), even considering the surplus income from 18-month rental period, near $40,000 lost.
Fantastic negative return on investment over 4 years.
Lots of lessons to learn from this misadventure.
Waterloo, Ontario - Canada
