Anyone look at resale condos in GTA?

[Hosup Lee]

Hey, I already have a couple of semi-detached in East York and recently been thinking that resale condos (as opposed to precon) might be a good, easy investments to make. Quickly ran numbers using a few condos currently listed in the downtown core, Vaughan, Regent Park areas to get a sense of what the returns look like.. Not the best positive cash flows and not as spectacular of return as reno-refi ideas but the total return projection seems pretty good in the low to mid-teens, relative to the work required. 

The thesis was that precon condo prices continue to escalate while resale condos, yes they're catching up, but will always sell at a discount. But rents, depending on where you are, can be relatively comparable.. as long as it's not too old of a resale condo. Not only that, given where the precon condo prices are.. I don't think it would be shocking if it just stabilizes or has a minor correction or so. At least with resale condo, the rental revenue/income offsets some of that market price risk. IRR might be better on a precon condo with the deposit schedule, but all the risk is with the market. Risk vs reward, I guess?

edit: just full disclosure - I'm not an agent. Just trying to understand if my thesis works - I have zero ties with any of the listings below!