Oshawa house investment 3
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $360,000
Cash invested: $150,000
Sale price: $625,000
This was another 3 bedroom sfh. It was a dump. I got people to move in the first week I had the house. And painted, tiled and built a laundry room as they were moving in. I then gutted and spent the next 3 months building a legal 2 bedroom basement apt. I quit my day job to do this house. Once I finished I refinanced at 625$ and got all my money back. I rent the 2 apts for 2700$ plus util.
How did you find this deal and how did you negotiate it?
Real estate agent.
How did you finance this deal?
Bank
How did you add value to the deal?
Built 2 bed basement apt
What was the outcome?
Refinanced and used money to buy 2 more houses
Lessons learned? Challenges?
My plumber was a flake and failed his inspections and then never showed up after. So I found a much better plumber that I used to this day.