All Forum Posts by: Alek Lupa

@Matt Geerts Thanks for your input Matt. The house that i do own at the top of the 404 has jumped dramatically in the last few years but so has the GTA. 

The reason i brought this up was because i wanted to see if there was other ways to increase a rentals cashflow. The zoning where the house is does allow basement apartments. So i figured i'd ask the question. A house on the same street has built a new foundation with basement walkout then moved the existing house on to it. I think they mentioned they paid 100k to a contractor.

With a hot market in most of southern Ontario finding additional value maybe challenging.  Has anyone sought after single family dwellings with a crawl spaces and the intention of digging out a livable space under the house? I found that the areas where i was looking zoned R1 you were allowed to make a basement apartment with separate entrance. 

A separate basement apartment would add 800-1000 in rent in my area. Of course there are many rules and bylaws to uphold and professionals to consult since this is by no means a small undertaking.

light reading stuff

http://www.expertinspector.com/BasementApartment.html

Alek

Prince Edward County is currently reviewing legislation on vacation rentals. For those that don't know Prince Edward County is home to Sandbanks provincial park, numerous wineries and tours.  There are picturesque vistas of lake Ontario and rolling hills. 

Investors had been buying up properties and turning them into Airbnbs and other vacation rentals. However, the County seems to want to slow down that development. 

Just wanted to make anyone interested aware of whats happening in the region. 

http://www.quintenews.com/2017/04/control-home-sharing-county-proposed/146114/

Hello Stephan, there are some interesting opportunities to the west in Trenton for multi-family. I'm currently living in a 6-plex that the rent is going for 700 tenant pays utilities. I seen a similar 6-plex down the street sell for 500k just wasn't in the right frame of mind to see the opportunity at the time. 

Trenton has a massive air base which offers steady good playing jobs, so the economy of the town seem to be stable. 

Biggest disadvantage would be the paper mill. If looking at properties stay to the south west side of town since the air quality seems to be better.