Student rental property

[Philip Breton]

Investment Info:

Single-family residence buy & hold investment in Welland.

Purchase price: $160,000
Cash invested: $15,000
Sale price: $230,000

6 bed Student rental, cleared 1200/m pre tax. Bought in at 160k sold for 220k

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

Cash flow

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

Mls

How did you finance this deal?

5% dp. Connvetional bank mortgage.

How did you add value to the deal?

Reno to accommodate 6 bedrooms and fire safety precautions.

What was the outcome?

Sold to settle partner’s divorce

Lessons learned? Challenges?

Choose better partner, structure a Corp for better protection against those life issues.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Local realtor and broker.