Turn-Key Triplex Renovation in Monarch Park – Episode #207

Turn-key triplexes in Toronto are very hard to come by. Especially ones that are finished with good quality, attract AAA tenants, and that actually cash flow positive.

The owners of this triplex located near Danforth and Monarch Park are spent close to $300,000 in renovations to create this luxury turn-key triplex that actually cash flows over $1000 / month!
This cash flow is calculated after refinancing and pulling out the renovations cost.

Contact me if you wish to get the detailed property analysis.

The finishes were selected with a purpose of attracting young professionals who love the trendy look of exposed brick walls, modern kitchens, rustic and durable floors, spa-like bathrooms, exposed wood beams, added storage space, and private outdoor space. Of course, the location is ideal being a short walk to Danforth, 2 subway stops, Monarch Park, great schools, and of course cafes and restaurants.

This will be an excellent long term investment for the owners.

If you would like to discuss how you can acquire a similar property feel free to contact me through my website: www.BeachInvesting.com

If you want to see other projects Brendan has been involved with here they are:

East York Modern Duplex Conversion After Renovations – Episode #200
Leslieville Luxury Duplex Generates $2000 of Monthly Cash Flow – Episode #196

What Works in Toronto’s Uncertain Real Estate Market – Episode #206

There is fear in the air and this brings uncertainty in the market. Prices have come down since April 2017 so let me explain what investment properties work in today’s market in the Toronto Beaches and surrounding areas.

Duplexes – still tough to get them to work but as prices continue to level off there are some properties that may work

Triplexes – all day – key is to buy in the right location with the right type of property and converting it into a triplex (must make the quality finishes and layout work in order to attract the right tenant profile)

4-6 units – creating them is your best bet.

Most of time, the best strategy is to create your investment property / income property. To buy a turn key property on the open market will almost always not cash flow in today’s market in the Beaches and surrounding area. You must be willing to create it.

BIGGEST CHALLENGE:

Buyers don’t have the time, expertise (know-how), or capital required to create these income properties.

SOLUTION:

If I can provide you with the team that will create it for you (which eliminates the time and know-how) then that eliminates 2 out of the 3 biggest challenges.

Then how do we come up with a solution to #3 (capital required)?

3 options:

1. You do this solo with your own money (ideal)

2. Borrow it from a HELOC (2nd best option)

3. Partner up with someone you trust who has capital that you are willing to share the profits with

4. The 4th option is to contact me as I am working on this new strategy/program to help investors own a piece of Toronto real estate with little money down

Call me at 416-885-2010

OR even better

Send me a message on my website “contact me” page. www.BeachInvesting.com

Look forward to chatting soon!

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