Welcome to passive real estate investing, the show where busy people like you learn how to build substantial passive income while creating wealth for the long term.

And now here's your host, Marco Santorelli.

Welcome to Passive Real Estate Investing

and another episode of Ask Marco,

where I answer your investing related questions.

So I'm going to cover about three questions here today on this Tuesday episode.

And the first one comes from Raphael.

He says, hi Marco, I've been listening to your podcast and it has motivated me to start investing in condos.

Why condos I'm not exactly sure but that's cool. Let's move on.

He says I have already purchased one condo in the past year in a good location and still waiting for the

turnover. I recently stumbled upon a new condo in a great location, good

developer and a good deal. Only problem is that it is a leasehold property being leased by the city.

What he means there is the property is owned by the city and it's being leased to whoever

has the rights to that property. He goes on to say the developers had at

least for 50 years but already used 10 for construction, that's a long

construction cycle, and other delays. Now only 40 years remain. I plan to buy this property purely

as an investment and to maximize rentals and I have no intention of living here.

I've been reading about leasehold properties and saw that it does not affect the rentals.

Do you think it is a good idea to purchase the condominium?

If I compute correctly, I will break even in 20 years while earning about $100 of passive income a month.

This is deducted already from the monthly amortization from the bank.

My fear is that I won't be able to sell it to anyone

...