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