We’ll buy your first bin!
If you’re looking for a pristine palace right off the bat, this property is not for you. But if you like to add value to distressed properties and see a big return, give us a call. Close to Hwy 85, University of Waterloo, and Conestoga College. One great feature of this fixer upper townhouse is the walkout basement! It’s got newer windows and the condo board is responsible for the exterior. Keep your bucks on the inside and cash out on a great flip opportunity!
How can you profit?
1) FLIP: Buy for $359,900, renovate, and sell in the mid $500s. You have a good cushion for taking on a flip in an uncertain market. Plus, it’s a condo, so you don’t need to budget for exterior renovations.
2) STUDENT RENTAL: Turn this into a 4 bedroom student rental (add a bedroom to walkout basement). It’s less than 10 minutes from the college and university. Student rooms rent between $800-$900 inclusive, on average.
3) SINGLE FAMILY HOME RENTAL: Like to have a backup plan for your flips? 3 bedroom townhouses/semis lease around $2700+/month.
SUMMARY:
– LOCATION: Waterloo, ON (Conestoga Pkwy between University and Bridgeport)
– PURCHASE PRICE: $359,900 Or Best Offer
– – AFTER REPAIR VALUE: Outdated properties are selling in the $525k-$540k range. How much more would a new reno fetch?
– CLOSING: March 21, 2023 (This is an assignment sale.)
– TYPE: 2 Storey Condo Townhouse with Walkout Basement
– BEDS/BATHS: 3 Beds/1.5 Baths
– PARKING: 2 spaces (1 garage, 1 driveway)
– BASEMENT: Part finished. Walkout to backyard.
– SQFT: 1173 sq. ft. (Pro tip for hoarder houses: Want to picture the true size of the space? Look at the ceilings instead of the floors.)
– AGE: 1979
– CONDO FEES: Approx $450/month. Includes water.
– PROPERTY TAX: Approx $2100/year
RENOVATIONS NEEDED:
– There’s been some hoarding going on in this house. But we’ll buy your first bin!
– After a good cleanout, do cosmetic renos to kitchen, baths, floors, and paint.
– Junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Does it really matter whether a kitchen is clean or dirty if you’re ripping it out anyway?? There’s a big discount to take advantage of, if some scum doesn’t scare you.
– It’s a condo, so you don’t have to budget for big ticket items.
– Windows already done 5 years ago.
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
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