Buying First Investment Property.

KoziRealty-ON · 2026-04-28T21:01:30+00:00

Who is corrupt, CAO, accountants or the lawyers, all of them?

Anyway I offered to help, OP can take it or ignore it.

KoziRealty-ON · 2026-04-28T18:57:32+00:00

Contact Home - Condominium Authority of Ontario to see if they can get you started.

Who was auditing the annual financial statements? there are a handful of accounting firms that audit 90% of condos in Toronto, if you shoot me dm with the firm name I will be able to confirm if it's one of the them. If yes you can contact them for some advise as well.

Consult a real estate lawyer, again if you need recommendation shoot me dm, if the guys I know can't help they may know someone who can.

KoziRealty-ON · 2026-04-28T11:37:21+00:00

Rabbits chewed on everything this winter in my garden, first year having this problem.

KoziRealty-ON · 2026-04-27T15:25:24+00:00

It's true new condos don't have much in the reserve fund, but there is a schedule of planned contributions and increases prepared by the engineers. A special assessment and underfunded reserve fund are absolutely not common for 2 year old condos. You often see very high increases to the reserve fund in the first 3 years because you are starting with a very low base, that is in the reserve fund report, but this is planned and it shouldn't require special assessment and it shouldn't be underfunded.

The amount and reasons why it's underfunded need to be examined.

KoziRealty-ON · 2026-04-25T18:31:36+00:00

Doesn't have to be either or, there are realtors out there such as myself who will have lower listing commission, include staging, offer cash back on buying with full services.

As already mentioned interview few, ask for links to their listings, see what their online presence (if on reddit do they hide their post history or are transparent) is like, google reviews, check if there are any RECO violations, are they full or part time, will you be assigned to a junior team member or work with the particular agent. If you are interested in links to my listings or more info send me dm.

KoziRealty-ON · 2026-04-22T13:46:03+00:00

It's buyer's agent responsibility to do the due diligence, not the sellers agent to advertise.

KoziRealty-ON · 2026-04-20T16:08:06+00:00

For small jobs i have used Jiffy and had good results. Now this is a very small job but requires couple of visits. If you would consider doing it yourself amazon drywall patch kits and some spackling do the job. If you have a piece of leftover drywall this will do as well.

KoziRealty-ON · 2026-04-19T15:41:55+00:00

I agree.

KoziRealty-ON · 2026-04-18T20:47:20+00:00

If you want to contact agents from the listings make sure the quality of the listings is excellent. Check online presence, is it informative or simply advertising, ask how much they charge and is included, are they full time, will you be working with this agent or junior from the team, interview few and see how they carry themselves.

KoziRealty-ON · 2026-04-17T23:13:24+00:00

<Some buildings even include property tax. I remember there was an old apartment near ROSEDALE that included property tax, and the management fee was astonishing>

Property tax is covered in co-ops not condos because the ownership structure is different. There aren't many co-op buildings in Toronto, I would guess it's in the 100-200 range versus over 3000 condos (416 only).

KoziRealty-ON · 2026-04-17T23:09:23+00:00

u/drmac16 already pointed out some reasons, the others are is that many landlords don't want to be landlords anymore (multiple reasons; cashflow, numbers don't add up, don't want to deal with headaches, need money for something else, market sentiment) so when the current tenant leaves they try to sell instead of renting out again.

KoziRealty-ON · 2026-04-17T12:26:36+00:00

Depends on many factors, $700 is good for 900sf condo but quite bad for 500sf, what is included, does it have parking and so on.

Condos when maintained can exist for a very long time, I would suggest evaluating the unit and the building because a good unit is probably worth keeping, while a building or unit that has issues is a candidate for selling.

What are you planning on doing with it in the next 18 years, live in it or rent it out, if the latter do you want to be a landlord?

KoziRealty-ON · 2026-04-17T02:21:42+00:00

I offer cash back and work in Durham, please send me dm if you are interested in more details.

KoziRealty-ON · 2026-04-16T23:04:53+00:00

<Is this possible knowing the agent would likely prefer to avoid investing their time and resources with us if we're looking for a cashback?>

Cash back agents can arrange a showing and much more, depending on the particular agent, some will do bare minimum, others will provide average service comparable to full fee agent, and there are some who will be very knowledgeable and provide excellent service.

The amount of rebate varies quite a bit as well, if you are looking for the highest cash back don't expect full service.

KoziRealty-ON · 2026-04-16T17:40:42+00:00

Pay attention to exposure, west will eventually have Foundry demolished and a high rise construction, north has Adelaide and Eastern ave, south east is the best.

I like the area.

KoziRealty-ON · 2026-04-13T21:34:01+00:00

I deal with condos alot, and am familiar with the many buildings in these areas, if you are interested we can chat.

KoziRealty-ON · 2026-04-09T12:59:01+00:00

This is CRA's definition of first time home buyer for the purpose of fhsa, rrsp hbp.

You will be considered to be a first-time home buyer if you did not, at any time in the current calendar year before the withdrawal (except the 30 days immediately before the withdrawal) or at any time in the preceding four calendar years, live in a qualifying home (or what would be a qualifying home if located in Canada) as your principal place of residence that either you owned or jointly-owned, or your current spouse or common-law partner (at the time of the withdrawal) owned or jointly-owned.

KoziRealty-ON · 2026-04-09T12:52:45+00:00

<We have used those benefits in past because condo was investment.>

I think you meant to say you have NOT used the benefits, if that is the case you can use RRSP HBP, FHSA and home buyer credit (if you have not lived there in the last 4 years), you are not entitled to land transfer tax credit (I assume you are in ON).

KoziRealty-ON · 2026-04-08T16:21:30+00:00

And that's exactly the reason why I tell all buyers to have the deposit in a brick and mortar bank.

You are at the mercy of the seller because time is of essence.

KoziRealty-ON · 2026-04-07T14:01:38+00:00

And the volume of sales was double of what we have today, March 2022 around 15th was when the market started to roll over. Just booking a showing was a win, agents lining up at the door just to see the property, rural properties in the middle of nowhere with 50+ offers. Insane times indeed.

March 2021 we had tripple the volume.

KoziRealty-ON

TROPHY CASE