Investing In Hillcrest Village Toronto Legal Duplex – Episode #184

We are in Hillcrest Village in Toronto and this is a continuation from Episode #183 – Investing in Hillcrest Village Toronto Gut Renovation. The owner Nawar Naji has completed his $180,000 renovation in creating this high end executive style duplex. This episode will show the finished product and Episode #183 will show you the before picture. This renovation project is truly a “role model example” of what many of my investor clients aim to do.

The purchase price of this house was $525,000. Nawar stayed on budget of $180,000 in his renovation. It took exactly 4 months to complete this renovation and that includes Nawar going to Committee of Adjustments. Furthermore, Nawar was able to rent the upstairs apartment for $2780 / month plus utilities and $1250 / month plus utilities for the basement apartment. For a total gross income of $4030 / month. The rental demand was incredible! He was able to rent the upstairs within a week or two of advertising it. After all expenses, Nawar will be cash flowing close to $1000 / month! Many people wonder who in the world would pay this much for rent when they could simply buy a place? The rental market in Toronto (especially certain hot pockets) is in very high demand and has been for quite some time. There are always people looking to rent quality suites…especially the young executive professionals who need a couple more years until they buy their own home, but need a place to rent in the mean time.

Well done Nawar! Thank you for sharing your renovation project details with our viewers…I know this will educate and inspire others to do similar things.

Investing In Hillcrest Village Toronto Gut Renovation – Episode #183

We are in Hillcrest Village in Toronto and this is the before renovations video. To see the after video click here: Episode #184 – Investing in Hillcrest Village Toronto Legal Duplex. The owner Nawar Naji has just purchased this property for $525,000 and it was in a “bidding war” with 6 other offers.

Nawar has a plan to convert this property into a Legal Duplex with a budget of $180,000. His estimated rents are $2500 for the upper unit and $1200 for the basement. This will be an interesting project to see how it turns out.

If you have any questions about this project please feel free to contact me.

Beach Investing 3 Years Later – Episode #182

It’s been three years since I started this blog and it’s been going great!  The feedback and support has been tremendous…THANK YOU!!!  I truly enjoy sharing all these experiences with you and I feel that these videos are getting more educational every episode.

In this blog I share with you statistics of what would have happened if you purchased a house three years ago and I also share my personal experience with regards to how 2013 compared to 2012 for investors in the Toronto Beaches.

SO….if you would have purchased a house three years ago (when I first started this blog)…this is what would have happened – Sourced from The Toronto Real Estate Board (TREB):

Average House Price Comparison

Toronto

2010: $431,000

2011: $465,000

2012: $497,000

2013: $523,000

% Increase Over Last 3 years: 21.34%

Last Year: 5.23%

 

Leslieville/Riverdale

2010: $485,000

2011: $545,000

2012: $573,000

2013: $599,000

% Increase Over Last 3 years: 23.50%

Last Year: 4.54%

 

The Beach/Danforth

2010: $611,000

2011: $618,000

2012: $665,000

2013: $715,000

% Increase Over Last 3 years: 17.02%

Last Year: 7.52%

 

East York

2010: $409,000

2011: $482,000

2012: $532,000

2013: $555,000

% Increase Over Last 3 years: 35.69%

Last Year: 4.32%

 

 

Can a Scarborough Property Cash Flow? – Episode #181

Here we are back in Scarborough Ontario where Odane Harding has finished his renovations to convert this bungalow into 2 separate apartments.

He has spent $20,000 and has rented the upstairs for $1400 and the basement will be rented between $900-$1000.  That is a total of $2300-$2400 / month.  Not bad for a $450,000 purchase.

There are some important items we discuss in this video that are valuable for people who are looking to do similar investments.  If you wish to discuss further don’t hesitate to call me 416-885-2010.

To watch the before video click here: Scarborough Bungalow Renovation – Episode #180