Long Closing: Easy Fix & Flip (or Hold & Flip!) Assigned

  • $664,900
  • 3 beds
  • 2.5 baths
  • 1884 sqft

Who’s looking for a profitable property?

So many perks to this deal, where do we start?? Here’s a well maintained, detached house on a corner lot, within walking distance of the St. Lawrence River. It is dated, but it’s been well maintained. There’s an extra family room above the garage which could be converted into a fourth bedroom. The unusually long closing means two things for you…lots of time to arrange cheap bank financing, and lots of time for this home to appreciate in value before you even close on it! Imagine what this will be worth 6 months from now, without you lifting a finger yet. There’s a separate entrance too, in case you had any visions for what could be done with the basement.

How can you profit?
1) Buy & Hold: hold some cash in tangible real estate over the next 6 months, see what the market’s like then, and then decide what you want to do next. Maybe you list it as-is, assign your contract to another off-market buyer, or fix & flip it!
2) Easy Fix & Flip: add some “lipstick and rouge” to the place (paint walls and cupboards, add new countertops) and sell in the summer.
3) Move In: Realtors, add some sugar for yourself first and show your clients this deal. The house is liveable as-is and they can update it slowly over time.

SUMMARY:
– LOCATION: Kingston, ON (Hwy. 15 & Rose Abbey Dr)
– PURCHASE PRICE: $664,900 Or Best Offer
– AFTER REPAIR VALUE: A similar property on the street just sold for $880k.
– CLOSING: July 4, 2022 (This is an assignment sale.)
– TYPE: 2 Storey Detached House (Corner Lot)
– BEDS/BATHS: 3 Beds/2.5 Baths (Can easily be 4 Beds)
– PARKING: 4 in Driveway, 1.5 in Garage
– BASEMENT: Finished (Separate entrance by the basement stairs)
– SQFT: 1884 sq. ft.
– LOT: 56′ x 100′
– AGE: 1991 (pretty new)
– PROPERTY TAX: $4739/year

RENOVATIONS NEEDED:
– Cosmetic updates as desired.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.

GOOD NEWS:
– Long closing! Lots of time to arrange cheap bank financing, and several months for this asset to appreciate before you even close on it. Double bonus!
– Potential for 4th bedroom upstairs
– Separate entrance
– Lots of parking
– Newer furnace and roof (within last 10 years)

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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Price:
$664,900
Address:
Kingston, ON
Square Feet:
1884
Lot Size:
56' x 100'
Bedrooms:
3
Bathrooms:
2.5
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1991
Basement:
Finished (Separate entrance by the basement stairs)

Call (647) 557-5979 for more details