Who’s looking for a low-risk flip these days?
This one’s a 3 minute walk from Tim Hortons Stadium (“The Donut Box”), home of the Hamilton Tiger-Cats football team! Also close to Gage Park, elementary school, and hospitals with easy access to highway. The low price compared to ARV makes this a flip you can confidently sink your teeth into in the current market. Even if prices continue to dip over the next few months, you’ll still make money. Or jump on the hold train and keep it as a short term rental! At this price, it could even make a profitable long term rental as a single family home if you keep your reno costs down.
How can you profit?
1) Fix & Flip: buy for $349,900, renovate, and sell for around $600k. (Noteworthy: one similar house on the same street just sold for $815k. It was renovated very nicely with bedrooms added in the basement.)
2) AirBnB: houses nearby with less bedrooms rent for around $300/night. Turn this into a short term rental cash cow!
SUMMARY:
– LOCATION: Hamilton, ON (Cannon St & Sherman Ave)
– PURCHASE PRICE: $349,900 Or Best Offer
– AFTER REPAIR VALUE: $600k-ish
– CLOSING: Between September 26 and October 26, 2022 (Seller will give at least 21 days notice. This is an assignment sale.)
– TYPE: 2 Storey Detached Plus Finished Attic
– BEDS/BATHS: 4 Beds/1 Bath. Potential to use attic as 5th bedroom. Basement roughed in for extra bath.
– PARKING: 2 spaces plus detached garage
– BASEMENT: Unfinished with plumbing roughed in
– LOT: 38′ x 87′
– AGE: 1920
– PROPERTY TAX: $2540
RENOVATIONS NEEDED:
– This house is in rough shape…plan for extensive renos. It’s time for a major overhaul!
– Some junk and furniture removal. There’s been some hoarding going on and the seller will be leaving stuff behind.
– Please view the pictures for ideas on what you’d like to renovate.
GOOD NEWS:
– The BIG spread!
– Walking distance to Ti Cats stadium.
– Whether your first choice is to keep it or sell it, the other option is still a strong Plan B.
Please let us know if you want to view it or if you want us to email you the info package. (Comparable sales, MPAC info, and more…)
Thank you,
Aaron Moore, Tomomi Wang & Josea Paul
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
PS. PUSH HERE to get notified about these discounted deals as soon as they become available. Sometimes these deals go fast, so you don’t want to miss them.