Archives for December 2013

Merry Christmas and Happy New Year 2014 – Episode #176

Wow! Another year has come and gone.  This year really went by fast for me.  Just thinking back on the year and all the memories…all the challenges and successes…makes me really appreciate life during this special time of Christmas.

We are nearing the end of 2013. How was 2013 for you? I know many of you had a very successful year and some of you had a very challenging year. The important thing is to learn the lessons from each experience and to improve and be stronger for the next one. Believe and have faith.

Thank you for all your support and encouragement throughout 2013 and I want to wish you and your family a Merry Christmas and Happy and Healthy New Year in 2014!

Lessons Learned From An Experienced House Flipper In Toronto – Episode #175

We are located in East York, Toronto in this video.

Jeff Reed is the owner of this property and has finally decided to sell it after 3 years.  He bought it originally for $300,000 and now has sold it for $644,000.

Jeff is an experienced house flipper in Toronto’s East End.  He’s been doing this for over 20 years and over the last few years Jeff has held on to a his properties because they end up cash flowing so well.  Nevertheless, it was time for him to sell this one.  Watch this video to see what Jeff did to renovate this property and to attract such HIGH rents and how he was able to increase the value of the home by $344,000 in just 3 years.

There were many lessons to be learned and Jeff is willing to share his successes and challenges with this project.  Some of the things he would do differently.

Other videos associated with this home are:

Episode #23 – Sticking To Your Guns!

Episode #17 – East York Rocks! (You have to see Jeff’s hair in this video…LOL!)

 

With The Right Renovation, Staging, and Team You Get More Money In Your Pocket – Episode #174

Welcome to the Toronto Beaches!  We are south of Queen Street East in a very high demand location.  This is the After Renovations Video.

Jerry Greer, the owner of this Prime Beach Property, has completed his basement renovation and has converted this tired looking apartment into a modern suite.  Some of the major items he renovated were:

New Flooring

New Kitchen

Lighting

Professional Paint Job

Bathroom

Removal of UFFI

New Ceiling

New Electrical

The rents that Jerry was getting before renovations was $1000 / month.  Now he is asking $1500 / month.  Jerry plans on staging the suite to attract a better tenant, more rent, and get it rented faster.

The renovation budget was originally $25,000 and it ended up costing $40,000.  There were a few items that were unexpected as usual with renovations.  Watch and learn.  Nevertheless, Jerry has achieved a 15% Return on Investment with this renovation and increased rent.

With the help of the Renovation Specialist, Jeff Reed, and several other professionals many of these unexpected challenges were able to be resolved.  Hiring the right team can really pay dividends when it comes to real estate…that is my #1 advice for this blog.

Here is the Before Video: Prime Toronto Beach Basement Apartment Before Renovation – Episode #170

Here is the During Video: Jacking Up Floor Joists – Episode #171