India vs Canada- Real Estate Investment
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Posted on: 28-03-15 12:23:35
For rental property, prefer Canada or US anytime than India. While your property here can give you a total income of $2000-$3000 on a detached house , with a possibility of $700-$1000 of positive cash flow after mortgage/utilities (yes there are such properties! ) , In India you wont get Rs 1 lacs of rent on no matter how big the property is.
If you buy detached house, the escalation in GTA is at par with that in India, legal course and transactional hassles are much lesser when you would like to sell.
Detached or even attached houses are expensive, can be out of reach , I agree, buy it in partnership with your friend. In India as well you wont find a good property below 75 lacs unless you are going for a b town where the rental returns will be next to nil. ( at times ~ rs10,000).
If you are low on initial capital but still interested in RE , Go US.
On contrary, If not interested in RE and have money to invest , Prefer to invest in Indian stocks, mutual funds than here. Keep your Indian demat account alive.
One more thing have a good mortgage consultant, there are always last minute complications in securing a mortgages now a days and keep your bank accounts separate for mortgage payments for each property.
Note : Above post is from my first hand experience, no gyan pure vigyan...
Quote:
Originally posted by tamilkuravan
There is more one option as your broker is telling you.
Get a second property soley for rental purposes. (in canada). Make portions and rent it. If it is near a college / univ. rent it to students. It will get a good income.
I will just list the rental income that one of my friend in Toronto gets.
He bought a G+2 house (basement +ground +1 floor house) for $ 350 K (very old) in 2007.
Basement to a family - $ 900
Ground floor to a family - $ 1200
First floor (3 bed, 1 washroom + 1 kitchen)- rented to 3 bachelors for $ 400 each. Paid $ 100 to one guy to clean the kitchen and washroom)
Total income - $ 3200
Try this option.
Murali
TK , Most of the people criticize you for your posts, but very less understand and appreciate your know -how and experience on varied topics you suggest on. There is lot of hidden benefits in some of your posts, it depends what people want to learn from others and weed out what they do not want. :-)
Quote:
Originally posted by san-hugo
TK , Most of the people criticize you for your posts, but very less understand and appreciate your know -how and experience on varied topics you suggest on. There is lot of hidden benefits in some of your posts, it depends what people want to learn from others and weed out what they do not want. :-)
Sometimes you have to be the god's chosen one ( unfortunately you are aethiest) to score a property near a university in Toronto with 3 floors, 3 kitchens, unlimited bedrooms, nonstop hot water supply for countless residents for just the cost of a 1 or 2 bed condo... and able to handle the countless hassles of all these renters while maintaining your sanity.
Also you should know that one particular person in GTA who knows everyone with all unique circumstances...
God bless you...
Hiren
Rs.1000/- (just one time) amount invested in WIPRO in 1980 is worth Rs.60crores today. & a Dividend yield of Rs.76,80,000 per year.
That's the power of growth in Indian comoanies. Going forward the growth is going to be mind boggling. India is a growing economy & the growth is at a much faster pace. Opportunity for all to take advantage for the future.
TK gave a GOOD suggestion ... the one that works.
I know personally Seven people who have similar situation like yours ... 5 of them invested in India and 2 invested in Canada. Out of five people who invested in India, four of them are not at all happy for various reasons for their decision of investment in India and one of those four who invested around $150K considers he lost his investments as he is in full of legal issues and no reliable person in India to take care of those problems. My cousin who is a lawyer in India handling his problems says that ... it is kind of gone case. The fifth one is okay as all his investment in India is taken care by his family/brothers who are into kind of real estate business. Still he confessed to me one day that ... his decision may not be a right one as he is not getting full info from his brothers and thinks that he might be missing some info which is not being shared by his brothers. He is not seeing any money ...
Those two who invested in Canada do not have any complaints except one has a feeling that he could be making more had he invested in India... The other one followed model like suggested by TK ... is happy and making little extra cash after deducting the expenses including mortgage... He already build up some good equity on that property.
Quote:
Originally posted by hchheda
Quote:
Originally posted by san-hugo
TK , Most of the people criticize you for your posts, but very less understand and appreciate your know -how and experience on varied topics you suggest on. There is lot of hidden benefits in some of your posts, it depends what people want to learn from others and weed out what they do not want. :-)
Sometimes you have to be the god's chosen one ( unfortunately you are aethiest) to score a property near a university in Toronto with 3 floors, 3 kitchens, unlimited bedrooms, nonstop hot water supply for countless residents for just the cost of a 1 or 2 bed condo... and able to handle the countless hassles of all these renters while maintaining your sanity.
Also you should know that one particular person in GTA who knows everyone with all unique circumstances...
God bless you...
Hiren
Fully agree with you, It takes 6-10 months of constant search, at times more, to find a high potential property, Even God himself or may be herself , (sorry I always confuse with the gender, you guys know more,) will lose patience in kind of work it requires to secure the property and then its closing , mortgage, upgrade etc.
There are hassles for sure with renters, but mostly manageable, thats why I said have a friend as your partner, together you can.
Didn't read much of the thread but the word that comes from my heart.
Don't invest in India. You will pay the price....Im paying....
The perspective is purely from business. Kindly, not mix up sentiments and mera desh fervor into it.
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
