Who’s looking for a profitable property?
How can you profit?
1) Buy for $229,900, renovate, then sell for around $300,000.
2) Buy, renovate, rent, refinance and pull out some of your money. With today’s low rates, this property can cash-flow as a rental.
We have a long closing on this one, so you have lots of time to get a bank mortgage.
Condos are easy to renovate. If you’re looking to buy a rental property, then consider buying two discounted condos for LESS THAN than a 2-unit property. Condos can be a lot easier to manage.
SUMMARY:
– LOCATION: 89 Westwood Rd, Guelph
– PURCHASE PRICE: 229,900 or best offer
– AFTER REPAIR VALUE: Two units of the same size have sold for $297k and $315k in the past 6 months.
– CLOSING: June 03, 2020
– BEDS/BATHS: 2 bed, 1.5 bath
– SQFT: 945 sqft
– AGE: 1981
– PROPERTY TAX: $2,000 approximately
– CONDO FEES: $576.62 (All utilities included)
– ESTIMATED RENT: $1700
RENOVATIONS NEEDED:
-paint & flooring
-kitchen and bathroom updates
-take a look at the pictures and videos to decide how much or little you want to do.
GOOD NEWS:
-Nice view from the balcony of Margaret Greene Park.
-Great amenities: hot tub, sauna, outdoor pool, exercise room, party room, billiards and game room.
-All suites have a wall unit air conditioner.
-In suite laundry
-1 underground parking spot included. Can get a 2nd outdoor spot for a $15 one-time refundable tag deposit.
Let us know if you want to view it or if you want us to get you details. (Comparable solds, MPAC info, and more…)
Thank you,
Aaron Moore & Tomomi Wang
647-557-5979
www.HouseDealsGTA.ca – Income Properties For Real Estate Investors