My third london property

[David Steinbok]

Investment Info:

Single-family residence buy & hold investment in London.

Purchase price: $270
Cash invested: $2

This was a nice 3 bedroom bungalow with a 1960s recroom in the basement. I did almost nothing to this house. Changed some light fixtures and bought a new fridge. Got it legally registered with the city as a rental and rented for 1850$ before my first mortgage payment was due.
I had planned on buying more houses in london but a few weeks after I finished this house, I was accepted into the Canadian military, and I was off to basic training for 4 months.

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

Nice house on a nice street. And has the potential for a basement apartment at a later date

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

Agent

How did you finance this deal?

Yes Scotia bank

What was the outcome?

Legal rental with 1850$/month gross rent. Lots of cashflow