Here’s a solid 1985-built brick bungalow on a big lot.
It’s the worst house in a great neighbourhood, which is the best type to buy! It has great structure and bones, but has its share of problems. There has been water in the basement for a while which has caused substantial mould. The buyer needs to be experienced with getting rid of mould. If you want this deal, then please act quickly because we’ll be making a decision quickly.
Lot’s of ways to profit here:
1) Fix & Flip: Buy for $265,000, reno and sell in the high $400s.
2) Great opportunity to buy a cheap small town home to reno to your tastes. Buy with lots of equity.
3) Great setup for a 2-unit conversion and long term rental. BRRR opportunity!
JOINT VENTURE: We are open to joint venturing with someone with a proven track record in renovations. We can fund the project.
ASSIGNMENT: We’re happy to assign this contract.
– LOCATION: Chesley, ON “The Nicest Town Around” – 1.5 hours from Waterloo and Guelph, South of Sauble Beach, 35 min to Owen Sound.
– PURCHASE PRICE: $265,000
– BUY IT NOW PRICE: $269,900 – If you are 99% sure you want it based on videos, home inspection report, comps, talking with us, your due diligence, etc… then it can be yours and we won’t show it to multiple people. Yes we can arrange a viewing and/or inspection for you.
– AFTER REPAIR VALUE: $450-$500k
– CLOSING: June 30, 2021 (This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 3 Bed/ 1 Bath
– PARKING: 5-7 Spaces, 4-6 on driveway and 1.5 car garage.
– BASEMENT: mostly unfinished, high ceilings, separate entrance.
– SQFT: 1204 sqft
– LOT: 100′ x 120′
– AGE: 1985
– Interior facelift.
– Mould! There has been standing water in the basement for about a year. A plumbing leak has been ongoing, the basement is filled with storage, and no one has moved stuff around to allow the water to drain.
– A lot of drywall removal and replacement. Both upstairs and downstairs.
– Attic insulation.
– New garage door.
– Some masonry work on the garage.
– Lots of junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
– Located in the sought-after neighbourhood in town.
– Solid brick bungalow on a big lot.
– Ideal setup for a 2-unit income property.
Please let us know if you want the info package. (Videos, Home Inspection Report, Comparable sales, MPAC info, and more…) We’ll consider sight unseen offers, but we can also get you a visit if needed.
Aaron Moore & Tomomi Wang
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
PS. Get notified of only the deals you are interested in by telling us your areas of interest. We notify you by email based on the geography you want. PUSH HERE to get the deals you want: https://www.housedealsgta.ca/preferred-buyers/
PS #2. Need Financing?
Calvert Home Mortgage is awesome for financing fixer uppers and has the ability to finance most of the wholesale price, INCLUDING the assignment fee. Also, they can fund in 24 hours.
Calvert has options for buying with as low as $20k down, with rates starting at 7.99% and a 2% lender’s fee for 25% down. No additional broker fees! No appraisal fee! No lender legal fee! Fully open!
DISCOUNT: Get $500 off the lender’s fee from Calvert Mortgages if you let them know that you heard about them through House Deals GTA. https://chmic.ca/flip-or-rehab/