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Updated about 11 years ago on . Most recent reply

Victor Parag's profile image
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Victor Parag
  • Contractor
  • from Toronto, Ontario
  • Member since Dec 3, 2013
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Victor Parag's profile image
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Victor Parag
  • Contractor
  • from Toronto, Ontario
  • Member since Dec 3, 2013
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Victor Parag
  • Contractor
  • Toronto, Ontario
5
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65
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Canadian Real Estate

Does the 70% ARV work out in the GTA or Canada?

Victor Parag
  • Contractor
  • Toronto, Ontario
Posted

Hi all,

Im seeing everywhere on BP about the 70% ARV but mostly in the US.

Wanted to know if that really works out in the GTA?

Thanks.

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Gary McGowan
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  • from Stouffville, Ontario
  • Member since Sep 21, 2011
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Gary McGowan's profile image
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Gary McGowan
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  • from Stouffville, Ontario
  • Member since Sep 21, 2011
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Gary McGowan
  • Investor
  • Stouffville, Ontario
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Gary McGowan
  • Investor
  • Stouffville, Ontario
Replied

No,

Best to know 3 things.

What is the ARV? (know or work with someone who knows the market)

How much will the renos cost including holding costs, closing costs and murphy's law costs?

What is the min profit I want to make?

Bonus: Is this a property I can exit quickly?

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