So my mom told me about this investment that she making where you purchase a unit from builders and this is done through a payment of $100,000 spread over 10 months (so 10k/month). This basically guarantees you a unit once the construction of the area has been complete. After that, you can purchase the mortgage the home and sell to make a profit (the idea being that the Toronto real estate will make the price go much higher and you can pocket the profit). This is basically what I understood.
All of this doesn’t sound right to me at all. Here’s the email that my mom forwarded me.
“PLEASE NOTE: This is on First Come First Serve Basis
Procedure for Reserving your unit is as follows:
Please Select your unit and send us your compeleted worksheet, No Unit will be booked until the deposit is received. Kindly, make out a bank draft in the amount of $10,000.00 Payable to “Niagara Meadows Inc.” Please make arrangement for deposit drop off.
Feel free to reach out if you have any questions or concerns.”
On top of that the Company “Niagra Meadows Inc” has very little info found online and the contact info of the real estate broker who sent the email seems sketch.
The only thing I found with this email address was this website: https://mediatours.ca/property/93-brickyard-way-brampton/
Can anyone help me understand this?