Real Returns in Timmins, On
I've lived here in Timmins, On for a little over 3 years and I have to say that I'm very surprised how few investors there are in town. Here's a quick overview of what I've been able to do with just me, my dad and my brother. Keep in mind that we had almost no money starting off and I had 2 jobs.
1)Duplex purchased for 65,000 in August 2012, refinanced for $140,000 in Dec.2014, spent $10,000 in materials, rental income: $1050 + $565
2)SFH purchased for $36,000, spent two weeks doing repairs, rents for $925, now worth 55-60k
3) Fourplex, bought for $100,000 in Dec.2013, refinanced in Jan.2015 for $189,000, spent under 12k so far
4) SFH: bought for 31,000, appraised for 79,000 4-5 months after work was completed. Rents for 975
5)SFH: bought for 55k, spent 13k, appraised for 140k, personally live in this house
We have 3 more projects on the go right now but I would seriously look into this market if you are looking to invest in Ontario.
High Rents & Low Property Costs = Happy Investors w/ Great Returns!