Archives for October 2012

Rookie Mistakes From First Time Buyers – Episode #118

The majority of buyers say they would have done some things differently after purchasing a home, according to a new survey. Even though Canadian buyers do their homework, they indicated the top three lessons learned, according to the 2012 TD Canada Trust First Time Home Buyers Report. I have also included another lesson several first time buyers have experienced that I have personally worked with.

Watch this video and learn from their mistakes.

If you have any questions about buying your first home, please feel free to contact me.

East York Bungalows High Rental Demand – Episode #117

We are in the north east quadrant of East York and what I am experiencing is very strong demand for 3 bedroom bungalows. Not only are these bungalows selling like “hot cakes”, but the rental demand is just as hot…maybe even hotter!

After listing a 3 bedroom bungalow for rent, the first day I had 14 showings and 7 rental applications! People were ready to fight over this place! It was insane! And the amazing thing was that every single one of these potential tenants were excellent candidates.

Bungalows in this area rent anywhere between $1500-$3000 and sell between $400,000 – $800,000 depending on many different variables i.e. quality of finishes, property size, location, ravine setting, perceived value, renovations, sense of security, close to amenities, shopping and transportation.

East York still remains one of the most affordable places to buy a bungalow being only minutes away from Downtown Toronto!

If you have any questions about bungalows in East York and the potential resale value and rental value, please feel free to contact me.

Behnam Rad

Behnam Rad is a real estate investor.

He purchased a great duplex in Leslieville that cash flows over $1000 / month!

Check out his purchase here and see what he did:

Leslieville Basement Apartment Renovation – Episode #123

Leslieville Basement Apartment Rents For $1100 – Episode #129

Premium Rents In Premium Locations – Episode #116

We are south of Queen Street East in the Toronto Beaches and what you are about to see is the “After Video” of this Renovated Toronto Beach Duplex. To watch the “Before Video” of when this house needed renovation please see Episode #93 – Toronto Beach Duplex With Lake Views.

The owners, Tommy and Kelly, have spent $220,000 to create a luxury beach duplex just three houses from Toronto’s Finest Sandy Beach. This is an income property for Tommy and Kelly and the anticipated rents are:

$3600 plus utilities for the 3 bedroom Main Floor Suite

$2600 plus utilities for the 2 bedroom Upper Floor Suite

When they originally purchased this house for $730,000, the house needed a lot of work. There has been great interest from prospective tenants and even interest in purchasing the property for over $1 Million…however, Tommy and Kelly are in this for the long term and understand the value of building long term wealth using this strategy of Buying, Renovating, and Holding.

Congratulations with your success!

If you have any questions about the scope of the project, the financial details or even the contractors who worked on this property please feel free to contact me.