Marinus 88 condos

[ddr]

http://www.marinusliving.com

So from this chinese newspaper, their advertisement states:
-new price $437,900
-20% down = $87,580
-4.5% rental revenu yearly = $1,642 per month
-mortgage (based on scotiabank 2.25% variable, 35 years) is $1,204 per month
-$438 in your pocket every month
-it even states all these fees waived (building management fee, property tax, insurance, rental management fee, and legal fee)
-buyer pays hst

I do see the fine print that says this company is allowed to cease this and all promotions without notice.

I'm a total noob at this, so I'm wondering, are they renting this out and managing it for the buyers?

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[604nguyen]

i would not rent a marinus apartment for $1,642 per month.

first of all, the layouts suck, and the area is pretty crummy

[bcrdukes]

Ouch. What a crummy area.

Do not want.

[lowside67]

Yeah honestly, if you to go CL, the 2 bedrooms are available for $1350-$1400 and the 1BRs at $1000-$1100.

Do not want.

[ddr]

that makes more sense, there were inflating the rental values, if it gets rented at all. just curious. thnx.