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BUILT
The Janion
Uses: condo, commercial
Address: Store Street at Pandora Avenue
Municipality: Victoria
Region: Downtown Victoria
Storeys: 7
Condo units: 122 (studio/bachelor, loft, 2BR)
Sales status: sold out / resales only
The Janion development includes the full heritage restoration of the historic Janion Hotel, built in 1891, and... (view full profile)
Learn more about the Janion on Citified.ca
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[Downtown Victoria] Janion Building redevelopment | 7-storeys | Built/renovated - completed in 2016

Condo Commercial

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2642 replies to this topic

#2641 JanionGuy

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Posted 08 July 2019 - 04:59 PM

Don't bother us with trifles. There's a hard and fast rule in the modern brick-and-mortar business scene: any commercial unit -- no matter how unlikely or unsuitable it might seem to be at first glance -- can successfully support either an investment place, a nail salon, or a marijuana store.

Ok, good point. I guess it's a good thing to have an investment firm in the building so all of the AirBnB owners will know how to properly invest their profits.

 

And properly declare all of their income/expenses to CRA, whilst writing off their profits by meeting clients at Cera, The Village (where the locals eat), Swans, and The Drake, and the like.


Edited by JanionGuy, 08 July 2019 - 05:00 PM.


#2642 m3m

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Posted 09 July 2019 - 09:26 AM

I don't think running an airbnb is all that profitable these days. Lots of hidden expenses. 



#2643 Szeven

Szeven
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Posted 09 July 2019 - 05:57 PM

I don't think running an airbnb is all that profitable these days. Lots of hidden expenses.


This is pretty accurate. I've operated one for just over 2 years now in the building. If you think about it from the purchase price it's a great return, but if you paid market prices now I think you'd be yielding about 3-4%. I get about 16-20k (pre tax) a year depending how much goes wrong. This year the washer alone cost me $1600.

Edited by Szeven, 09 July 2019 - 05:58 PM.


 



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