Advisors challenged to stake reputation (and dollars) in friendly wager
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Investors and their advisors are being challenged to a unique bet by Toronto’s Connect Asset Management which says the city’s downtown real estate is a winning choice.
The firm’s co-founder Matt Elkind says he is frustrated that investment professionals and the media are frequently warning against investing in downtown Toronto real estate and talking of a bubble.
So he’s betting that his $40,000 investment in Daniel’s DuEast Condo Development will bring higher returns than any other investment that challengers choose.
"We work with hundreds of clients in the investment real estate market and we typically outperform even the most aggressive investment funds on the market," says Elkind. "Toronto has an expanding economy and job growth, is a popular destination for new Canadians and is a business centre for the entire country. The demand for housing is increasing faster than new homes can be built and that's why the rental market is incredibly strong with a 1% vacancy rate; and prices have been consistently appreciating."
If a challenger’s choice of investment creates a higher return over the 4 to 5 year period of the project, then they get to donate Connect Asset Management’s profits from their $40K DuEast investment to charity.
"Not investing in downtown Toronto real estate is a huge mistake. If you aren't investing in the market, you should think again," warns Elkind. "We believe that investing in the Downtown Toronto condo real estate market will yield far higher returns than any investment fund, hands down."
The firm’s co-founder Matt Elkind says he is frustrated that investment professionals and the media are frequently warning against investing in downtown Toronto real estate and talking of a bubble.
So he’s betting that his $40,000 investment in Daniel’s DuEast Condo Development will bring higher returns than any other investment that challengers choose.
"We work with hundreds of clients in the investment real estate market and we typically outperform even the most aggressive investment funds on the market," says Elkind. "Toronto has an expanding economy and job growth, is a popular destination for new Canadians and is a business centre for the entire country. The demand for housing is increasing faster than new homes can be built and that's why the rental market is incredibly strong with a 1% vacancy rate; and prices have been consistently appreciating."
If a challenger’s choice of investment creates a higher return over the 4 to 5 year period of the project, then they get to donate Connect Asset Management’s profits from their $40K DuEast investment to charity.
"Not investing in downtown Toronto real estate is a huge mistake. If you aren't investing in the market, you should think again," warns Elkind. "We believe that investing in the Downtown Toronto condo real estate market will yield far higher returns than any investment fund, hands down."
