Archives for May 2014

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 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 great example of what many of my investor clients aim to do.

The purchase price of this house was $525,000. The owner stayed on budget of $180,000 in his renovation. It took exactly 4 months to complete this renovation and that includes the owner going to Committee of Adjustments. Furthermore, the owner 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, the owner 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! 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 has just purchased this property for $525,000 and it was in a “bidding war” with 6 other offers.

The owner 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.