Who wants a discounted deal this summer?
A good scrub and some new carpet/paint would make this house rent-ready. Or take it to the next level and update the kitchen and bathrooms too! New roof 2021. Walking distance to 3 schools, recreation centre and grocery. On main transit route.
How can you profit?
1) SINGLE FAMILY RENTAL: At this price, you can keep this as a profitable single family rental. We hear it used to be a 2-unit property, and it has 2 hydro meters, but there is currently no separate entrance. So there may or may not be conversion potential.
2) BRRRR: Buy for $399,900, renovate, rent, and refinance out of the increased value. Let the bank pay you back for any renos so you can use your capital for the next deal!
3) WHOLETAIL/FIX & FLIP: Keep renos simple for a profitable flip.
– LOCATION: Hamilton, ON (Main St & Hwy 8)
– NEW REDUCED PRICE: $399,900 Or Best Offer. All offers will be considered…shoot your shot!
– CURRENT MARKET VALUE: Nearby 2 bedroom houses have sold around $600k-$650k in the last 30 days (not renovated). These are not perfect comparables, so ask us for details so you can compare and contrast.
– CLOSING: August 17, 2022 (This is an assignment sale.)
– TYPE: 2 Storey Detached House
– BEDS/BATHS: 1 Large Bedroom Upstairs (Used to be 2 bedrooms, easily converted back. Or leave as-is for a spacious bedroom suite that a couple would enjoy). Additional 1 Bedroom in Basement. 2 Full Baths.
– PARKING: 3-4 cars
– BASEMENT: Finished
– SQFT: Around 1100 sq. ft.
– LOT: 27′ x 90′
– AGE: 1925
– PROPERTY TAX: $2724 in 2022
– Needs carpet, paint, and cosmetic updates to kitchen/baths.
– Maybe convert the upstairs bedroom back into two bedrooms.
– Needs an overall fresh-n-clean up.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.
– New roof November 2021
– 2 hydro meters (rumour has it this used to be a duplex). No separate entrance.
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…)
Aaron Moore, Tomomi Wang & Josea Paul
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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