Who wants a cheap property in Ontario that’s a money maker? 106′ frontage may have potential to sever.
Cheap Property Ontario: How can you profit?
1) Buy for $199,900, do some modest repairs, and then sell for $270-$300k.
2) At this price it’s pretty easy to rent and get positive cash flow.
3) Look into the potential to sever.
– LOCATION: Holstein, ON (an hour north of Waterloo or Guelph, west of Orangeville)
– PURCHASE PRICE: $199,900
– AFTER REPAIR VALUE: $270-$300k (Doesn’t need a high-end reno)
– CLOSING: Nov. 25 (And seller stays after closing for a while)
– TYPE: Detached, 1.5 storey
– BEDS/BATHS: 3 Bed, 1.5 Bath
– BASEMENT: not much, just a crawl space.
– SQFT: 1536 sqft
– LOT: 106′ x 148.5′
– AGE: 1920
-needs new furnace and roof
-lots of junk removal
-And there’s always a list of things to improve
-Big lot with 106′ frontage. House sits on one side of lot. Maybe the lot can be severed. (To be confirmed.)
-It looks like it could be cleaned out and sold for a healthy profit with minor renovations.
-Holstein is a lovely village in the heart of Mennonite country. It’s known for its rodeo and other festivals.
-Charming neighbourhood. Walk to shops.
-The neighbour’s house is a smaller 2 bedroom house and the lot has HALF the frontage. It sold for $265k. Do you see some opportunity here??
This house has been assigned. But let us know if you’re looking for cheap properties in Ontario.
Aaron Moore & Tomomi Wang
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