House with basement suite income and main floor income

[Chad Vandermeulen]

Investment Info:

Single-family residence buy & hold investment in Spruce Grove.

Purchase price: $330,000
Cash invested: $50,000

First house ever bought with intention to build basement suite while living upstairs. Built suite and had rented out for approx 7 years,. moved from house in 2017 and currently rent out basement and main floor.

What made you interested in investing in this type of deal?

Basement paid for my mortgage

How did you find this deal and how did you negotiate it?

My mother in law is a realtor

How did you finance this deal?

Bank mortgage

How did you add value to the deal?

Had all financing in place, sellers wanted to move quick.