Updated almost 5 years ago on . Most recent reply
My second london buy and hold
Investment Info:
Single-family residence buy & hold investment in London.
Purchase price: $250
Cash invested: $5
About a month later I picked up my second single family home in london. This one is a very large 3 bedroom brick bungalow on a quiet tree lined street. Has a massive backyard. All I did was paint and change some electrical fixtures. Basement was finished with a bathroom, bedroom and big rec room with fireplace and bar and has 7 ft ceilings. House passed all inspections on the first try and is registered as a legal rental now.
What made you interested in investing in this type of deal?
Going for cashflow, with the ability to add a basement apartment at a later date.
How did you find this deal and how did you negotiate it?
Real estate agents
How did you finance this deal?
Scotiabank
How did you add value to the deal?
Just cleaned up the house and registered it as a rental with the city
What was the outcome?
Got the house rented for 1850$/month
Lessons learned? Challenges?
This was probably the easiest project I've worked on to date.