How To Legalize Triplexes in Toronto – Episode #204

I just hosted a workshop on How To Legalize Triplexes In Toronto.  Fantastic topic with a ton of information.

I did not record the workshop so I will summarize briefly what we talked about and I encourage you viewers to contact me if you want to learn more.

We discussed the following:

  1. Why people want triplexes in Toronto
  2. Why triplexes are the next best investment model right now
  3. Multiple exit strategies
  4. Should you buy a turn-key triplex or create one
  5. How to increase your ROI
  6. Key things to know when creating a triplex

This workshop was over 4 hours in length and it could have easily lasted longer.

We had the following speakers:

Architect

Realtor

Mortgage Broker

Investor

Contractor

Insurance Broker

Everyone had valuable things to share and teach.  I learned a ton of things and we came up with a “one stop shop” solution for those of you who want a triplex but don’t have the time or expertise to create one.  If you are interested to learn more I encourage you to call me 416-885-2010 or contact me on my website: contact me

Oshawa Bungalow Converted Into Legal Duplex After Renovations – Episode #203

We are back in Oshawa with Chris Arnts and he has converted this bungalow into a legal duplex.

The original purchase price was $325,000 and the actual renovation budget spent was $155,000.  The actual rents achieved are: main floor $1690 and basement $1250 plus hydro.

Approximate monthly cash flow after all expenses with 20% down payment will be $700 (after refinancing).

Oshawa is a pretty hot market.  A good city to compare to Toronto for investment purposes.

Which market are you investing in?

Here is the before video: Oshawa Bungalow Before Renovations – Episode #202

 

Oshawa Bungalow Before Renovations – Episode #202

Today we decided to take a different stance and venture out to Oshawa to see if owner Chris Arnts can take his experience from the Toronto Beaches and utilize it in another city.  Oshawa is relatively more affordable where you can probably fetch more monthly cash flow and it is also going through positive growth.

Chris purchased this property for $325,000 and the anticipated renovation budget is $100,000 to convert this property into a legal duplex.  The estimated rents once it is all finished is $1600 for the main floor and $1200 for the basement.  This is the before video so lets see how it turns out.

There are pros and cons to investing in any city, town or neighbourhood.  It is important to learn what they are and decide which area you want to invest in.  I believe every area has potential to make money…you just need to figure out what that method is and whether it works for you.

Here is the after video: Oshawa Bungalow Converted Into Legal Duplex After Renovations – Episode #203

 

The Value in Underpinning a Basement – Episode #201

This video is to show our viewers how they can add value to their basements.

By underpinning a basement, you are increasing the ceiling height by at least 1-2 feet.  In Toronto, especially the older areas, basements were not originally made as living space and therefore they were low, damp, and felt really creepy.

For your average house in the East York, Danforth, and Beaches area it can cost approximately 25k-30k to underpin a basement.  And this means you are creating another floor of great living space.  This will definitely add value to your property and for you investors out there it will definitely increase the rental value of your basement apartment.

Check out these videos that show examples of basements and how much value was created by underpinning and adding quality finishes:

East York Modern Duplex Conversion After Renovations – Episode #200

East York Bungalow The Final Reveal – Episode #188