In the Toronto Beaches, the typical age of a home is 80-100 years old. There are many aspects of a house this age that needs to get repaired or replaced. Therefore, it makes sense to hire a Home Inspection Company to inform and advise buyers of these matters. However, when it comes to newer houses, most buyers feel that just because it is new or newer there is no need to hire a Home Inspection Company. Buyers assume that Builders have done everything correctly. This can become a costly mistake (as you see during HGTV’s episodes and watching Mike Holmes Inspections). Nobody is perfect and you need to protect your interests. Make sure you hire a Licensed Professional to inspect your property. During this episode, we hear David Ash from DASH Inspection Services talk about some of the common issues he finds with newer houses.

If you wish to get in contact with David Ash, you may contact him at 416-887-3053 or www.DASHInspectionServices.com

Here we are in the Upper Beaches of Toronto. It took the owner $40,000 to completely renovate and finish this basement apartment from scratch. This will now allow the owner to attract a different tenant profile who will pay a premium of $1200 / month of rent for this 1 bedroom suite. In this video you will see the quality finishes used and some of the important factors considered in order to get the higher rent. For example, private ensuite laundry, granite counter tops, electric fireplace, high ceilings, good size bedroom, and open concept layout. The bathroom and kitchen are both very modernized. This renovation is an excellent model to follow if you were to create a quality basement apartment for rent. The General Contractor, Peter Glaw, is interviewed in this video and walks us through the apartment. He explains some of the challenges that were faced, but more importantly how they stayed on budget and on time! After renting the main floor for $2300 and the Basement for $1200, the owner will be cash flowing $700-$800 per month after all expenses!

You may reach Peter Glaw, the General Contractor, from Premier Quality Renovations at 905-286-0303 or www.premier-renovations.com.

We are back in the Trenches with Jeff Reed in this exciting renovation in the Prime Toronto Beaches! This is a continuation from Episode #47, #55, #57, and #59. We are almost 3 months into the project and the back half of the house has been removed and an underground river/stream has been discovered! In this episode, it’s concrete pouring day for the foundation in which Jeff is erecting a 3-storey back addition. A very exciting time with all the hustle and bustle. Good thing the weather has been cooperative.

Starbucks has made its way to Kingston Road and Main Street. The “Impact of Starbucks” has become a popular term used over the years and here are some examples:

We are all aware that Starbucks opened up at Queen and Logan about 6 years ago and that area has experienced positive transition and an increase in real estate values since then. In 2006, the average price in Leslieville/Riverdale was $347,000 and in 2011, the average price was $545,000. That is a 57% increase! Obviously this is not all because of Starbucks, but Starbucks sure knows how to choose their locations well. They have a massive research team that does their homework and ensures that they will not fail.

Last year Starbucks opened up at Gerrard and Jones (which I filmed in Episode #3) and we have already seen some positive transition in that area.

Now Starbucks has made the move to Kingston Road and Main Street. Could the “Impact of Starbucks” be felt here too? Economic Fundamentals play an important role here as well. There is a GO Train Station (GO Danforth) up the street that takes you to Downtown Toronto and there is also a public Street Car that does the same.

East York is one of the cheapest areas to buy bungalows that are so close to the Downtown Toronto Core. These “post-war” homes are starting at around $300,000+, you can potentially buy a bungalow and spend about $250,000 to add a 2nd storey (top up) and have it valued close to $700,000 plus/minus depending on the size and finishes. Because of this, there are many investors utilizing this strategy within East York and I can think of at least 10 active Top Ups right now. You have several exit strategies after adding a 2nd storey. To mention a few of the basic options: First, you may flip (sell) the house for a profit. Second, you may rent it out for premium rents and receive positive cash flow. And third, you may obviously choose to live in it. One of the biggest employers in the area is East York General Hospital, which is a great place to advertise for rent and find good tenants i.e. Nurses and Doctors.

We are back in the Prime Toronto Beaches with Jerry Greer in this exciting renovation that has been completed! This is a continuation from Episode #53. We introduced another investment strategy in Episode #53, which was High End Furnished Executive Rental Suites. Wow! The finishing touches here will really make a big difference to the Landlord’s tenant profile, monthly cash flow, increase in value, and return on investment. Through buying in the “right” location, renovating to certain standards, and furnishing the suite to accommodate the limited but willing to pay executive tenant profiles, you can make a great Return On Your Investment (ROI). In the end, Jerry Greer decides to go with the “unfurnished rental suite” option versus the “furnished rental suite” option, which was a surprise at first, but after analyzing the numbers it made sense.

There was a lot of help throughout this project by Cindy Wennerstrom from Oro Properties who helped design it, and Stephen Scott from Dovetail Home Inc who was the General Contractor.

You may reach them for any questions or services at:
Cindy Wennerstrom: 647-261-4676 or cindy@oroproperties.ca
Stephen Scott: 416-450-7574 or stephen.scott@dovetailhomes.ca

Here we are in the Upper Beaches of Toronto.  The demand here has been high and the prices are continuing to ripple up from the South. This is a typical 2-storey semi-detached house in the Upper Beaches that sells for over $500,000 as is.  Positive Cash Flow is very achievable as you can see based on this video.  The owner Nawar Naji has the plan of renovating this house into a “high-end” duplex that will net him between $700-$900 of positive cash flow every month.  He has budgeted approximately $100,000 for this renovation.  We are filming the “before shot” here and will be filming the “after shot” in a couple months when it’s complete.

Nawar Naji is a Mortgage Broker and Investor who works with Verico The Mortgage Wellness Group.  He focuses on real estate investors and understands first hand as he personally walks the talk.  Check out his website: www.gtamortgageadvisor.ca

We are nearing the end of 2011. Was it a good year for you?

My mentor Philip McKernan once told me to create a Life Goal which he called “My Everest” and an Annual Goal which he called “My Summit”. And the way I approached it was to ask myself this question: “When December 2012 comes around, what has to happen in order for me to judge whether it was a good year?” And this is how I began creating “My Summit”. It can be personal, it can be professional…it can be whatever you want it to be. The more REAL and GENUINE you make it, the bigger the impact it will have for you.

I am not talking about creating a 17 page goal list where you are overwhelmed by 101 different goals. I am talking about creating just 1 Summit for 2012 and going for it! Really focusing on achieving your Summit.

Thank you for all your support and encouragement during 2011 and I want to wish you and your family a Merry Christmas and a Happy and Successful New Year!

We are back in the Trenches with Jeff Reed in this exciting renovation in the Prime Toronto Beaches! This is a continuation from Episode #47, #55, and #57. We are about a month and a half into the project and in this episode Marcin Wroblewski from Express Rooter will be conducting a sewer drain (Plumbing) inspection. This will determine whether the home owner will need to repair or replace the existing drains which haven’t been touched since probably the early 1920′s.

Why do people want to open up businesses in Leslieville/Riverside? I decided to visit Stavros, my Hair Stylist, who just recently moved his Hair Styling Business into Leslieville/Riverside and asked him his thoughts. Stavros really likes the fact that his clientele here are young urban professionals who share the same energy and characteristics as he does. Many of his customers live in the area and commute to work just a short distance into Downtown Toronto. Some of the professions mentioned are: Lawyers, Actors (Film District), IT, and Business Executives between the ages of 25 – 40 years old. Most of these customers are starting out and building their families in this area. They love the idea of being close to The Beaches, Downtown Toronto, Parks, Transportation, Major Highways, Schools, Restaurants, Shops and Cafes. And we can’t forget about the huge Waterfront Redevelopment that is happening!

Feel free to visit Stavros at 743 Queen Street East, Riverside, Toronto, M4M 1H3, stavros@haircode.ca (416)750-1234.