All Forum Posts by: Itay Heled

thanks for your feedback Tom. yes I am aware . not trying to do it myself remotely  but considering  doing it   with local partner that has the  construction  crew  & property management in house . 

he believes there is a room for profit. .  burnt in the past with  beautiful optimistic  promises from local partners... that's why I am looking for unbiased opinion & that is what I am trying to figure out.

Thanks for your feedback James!

last week when i visit Cleveland I saw a  3 bed 1 bath in Maple heights that   just  sold  as a turn key for 85 k but it may be the exception?  Duplex is an interesting option indeed.   

Hello BP members & Happy New Year!

I am considering flipping SFH into turnkey rentals with a local partner.

rough plan is the following  :  

1 purchase price 20-35k 

2 10-20 k rehab 

3 place a tenant and  sell for 60-85k  for out of town investors  ( 3 month turn around time.) 

any locals with expirience  doing this recently  who can share the demand ,the  challenges, and current market condition ?

Thanks!

Hi Alan,

I convert two SFR into duplexes in Barrie.

its a great way to improve  cash flow and add value. just like  the rest of the GTA, prices went up 

dramatically with multiply offer craziness Toronto style, until around March /April 2017.  then flattened and even dropped.easier to find deals now .

will be happy to share more

Hello BP members,

if I am the  seller, and buyer choose not have their own real estate agent , (yet didn't sign with my listing agent ) m the , is it still a common thing brokerage will charge me , the seller   the  entire 6%?

and if so, are they legally  representing buyer in the deal?

thanks!

Hi Prem & Bryce still waiting to get some feedback on Allstar...

Hello BP Members!

I am based in Toronto and I own a property in the east end of Cleveland.

 I am looking for a reliable property management   company to replace Sellers property  that shut down .

I spoke with Allstar Management and they sound nice and reasonable. I couldn't find much feedback online on them so i was wondering if any one worked with them or know of them here?

Thanks so much!

Itay

Hello,

my question: should I refinance? 

trying to wrap my head around a choice I have with a rental property

I recently finish turning a house into legal duplex.

new value is $430,000-450,000

remaining mortgage is $173,000

my mortgage is up for renewal On July 

bank is offering me 2.24 rate two year fix.

cash flow with this new rate will give me about $1000 per month give/take

However, I am considering using the equity to invest in a new property.

I can refinance with B lender at 4 % rate with $1000 lender fee and get $150,000  (cant refinance with bank)

would likely allow me purchasing another property, turn it to legal duplex and get around 500$ cash flow per month.

what is the best way to analyze the numbers and  compare those two  options? 

Thanks so much Don!

I will give them a call

Hello Canadian investors in Barrie area,,

Any suggestions for a good roofer who can fix a flat roof in Barrie Ontario?

Thanks!

Itay