Making Toronto work for investing
The only way I can see to have a good return is the BRRR strategy. Below is a recent project I did:
Purchase price 20% down $860K plus renovation $200K = $400K upfront
I created a duplex renting the basement for $1,650. Current living on the upper. Should rent for $3,500 for total = $5,150
My realtor estimates the value to $1.3M. Conservatively, I think it's more like $1.25M = $190K profit so 47% return.
My min is $100 cash flow monthly so can pull $330K. Rinse and repeat.