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

 

East York Bungalow Duplex Conversion Before Renovations – Episode #199

The real estate market in East York has gone crazy! Homeowners and Investors are really ramping things up and renovating their homes to build equity. They are either holding them for personal use, renting them out for investment income, or flipping them to make a profit.

The owner of this property, Brendan Riley, just purchased a property in this HOT location and is about to undergo a massive renovation to convert this property into a luxury duplex.

Brendan is a real estate investor who has done this before. He has learned a lot of lessons in the past so lets see what changes he will make this time and what the results will be. BUT first…lets see what his plans are.

I helped Brendan find this gem in East York that they wish to renovate and rent for the long term with the hopes to generate positive cash flow and a bit of sweat equity.

Can Brendan create an anchor property here? Lets see what his plans are.

If you want to see the final reveal (the after video) please click here: East York Modern Duplex Conversion After Renovations – Episode #200

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.