There’s an old saying in real estate investing: “you don’t make money when you sell property, you make money when you buy it”. This adage is even more true for real estate developers.
When launching new townhome and condo projects in Toronto/GTA, Residential Real Estate Developers typically sell all units to investors and end users and move onto the next project. However, with Toronto’s booming real estate market, in the years after selling out their projects, many developers are dismayed to find units in their projects skyrocketed in value, often before construction even finished.
So imagine if you as a property developer had kept just 10 units in every project you’ve ever built. What would they be worth today? In many cases, a small fortune! Plus they would also enjoy excellent monthly cashflow today in Toronto’s white-hot rental market.
So do you feel sellers remorse with your sold out projects? Would you like to hold onto 10 units in your current projects long term? Do you need a reliable, outsourced solution for achieving maximum rental revenue for those units? Sociable Living is your solution!
Sociable Living is Canada’s first CoLiving company. We specialize in providing qualified CoLiving tenants on leases for your unsold 3, 4 and 5 bedroom townhome and 3 bedroom condo units. With the CoLiving model you get higher monthly rental income than leasing each unit to a single tenant.
For more on Sociable Living and CoLiving, watch our new video clip on YouTube here.