Is there a “bubble” in Toronto’s Real Estate Market? You’ll hear different opinions from everyone you speak with and every newspaper you read. Tim Syrianos is the Broker of Record and Owner of Remax Ultimate Realty Inc., Brokerage and he has been in the Real Estate Business for over 20 years. Having gone through a couple recessions in his time, Tim’s opinion is that the Market in Toronto is currently strong and healthy, but some things need to change to help balance things out. Being an active investor himself, Tim walks to talk and understands the investor mind. We discuss issues like “what happens if the market dips by 30-40%”? We all have our own goals and expectations and this would have a different impact on all of us. However, “time happens” and if you are in this for the long term then watch this video blog.

When you are looking to purchase a property, you normally take proactive steps in getting a home inspection done so you can find out what the major deficiencies are with the house. However, there are some things that just cannot be discovered during a home inspection. The home owner, Nawar Naji, is an Investor and Mortgage Broker who is conducting a $100,000 renovation project in Toronto’s Upper Beaches. See some of the challenges he has faced during his renovation that a regular home inspection could not find. This will definitely make you think twice when buying your next property and ensuring that you have a contingency fund. The most important thing that Nawar has learned during this renovation project so far is “Planning ahead and communication with your Contractors”.

To view other previous videos that relate to this project please go to Episode #61 – Upper Beach Duplex Renovation

Back in the day, Buyer Representation did not exist and therefore Realtors always used to represent the Sellers best interest in a transaction. Today we have Buyer Representation and we applaud our industry for bringing this in for several reasons. In this episode I interview Tim Syrianos, the Broker of Record and Owner of Remax Ultimate Realty Inc., Brokerage. We discuss the importance of Buyer Representation and how it impacts customers, clients, and investors. It is so important to educate Buyers and Sellers about “Working with a Realtor” and understanding who is working for who in a transaction. There are major differences between being a Customer versus a Client. To name one major difference: {Under Buyer Representation, the Sales Representative is obligated to provide Fiduciary duties to the Buyer-Client which in all cases, apply to: Accounting, Competence, Confidentiality, Good Faith/Full Disclosure, Loyalty and Obedience. Therefore, the Buyer can feel secure to divulge information without the fear of harming their negotiating position. The Sales Representative must treat the Buyer-Customer fairly and not misrepresent. Provide factual information but is not obligated to provide counseling.} The impact is probably most obvious with Investors as they are in a position to do a lot more due diligence when it comes to financial details, Seller motivation, negotiating terms, economic fundamentals, market influences, and much more.

By having a working knowledge of the options available to you as a buyer, my hope is that you will have a better understanding of how to begin the process of buying a property, either as a ‘Buyer-Client’ or ‘Buyer-Customer’ therefore having the confidence needed when making this all important decision.

If you own a home that was built in the early 1900′s or late 1800′s you may be wondering what your house looked like when it was first built? Since most of the houses in the Toronto Beaches were built in the late 1800′s and early 1900′s, there is a lot of history to be discovered. We attended the Toronto Metro Archives which is located at 255 Spadina Rd (near Casa Loma) in Toronto. We researched several homes within the Toronto Beaches area and found some astounding information that included pictures taken back in the early 1900′s. Some of the pictures found were of horse and carriages pulling large material that people used to build houses with, and how builders used to raise houses by putting them on stilts using their horses. We found pictures of workers building train tracks and how the waterfront looked like over 100 years ago. This area looked like a farm field with a few cottages and dirt roads. So cool to see. It makes you want to go back in time and visit the past. If only I had a time machine!

How would have this impacted your life today?

In 1986 – 25 years ago – The average price in Toronto was $138,000. In 2011 – The average price in Toronto was $460,000. That’s an increase of $322,000!!! Or 233% Increase in 25 years OR 4.95% per year approximately.
Someone had to pay that mortgage right? IF YOU RENTED IT OUT…the tenants would have paid for that mortgage. Today, your parents would have had a $460,000 property – FREE AND CLEAR of any mortgage.

SO AGAIN I ASK YOU…what if your parents bought 1 more property 25 years ago? How would have this impacted your life today? If you see value in this…then I ask you one more question:

If you buy 1 more property today at $460,000…How will this impact your family in 25 years from now?

After a long 9 months of planning and renovating, this renovation project in Toronto’s Upper Beaches is finally complete! With approximately $230,000 worth of renovations and a legal conversion from Duplex to Triplex, this investment property is now a luxury income property. This property was originally purchase for $525,000 back in March 2011 and is valued today around $900,000. The monthly cash flow is approximately $700 per investor. A lot of thought was put into the design of this property and many challenges were faced. In the end, a lot of heart went into this project and the celebration was well worth it. Cheers to the all the hard work and the success it brought. Thank you guys!

To view other previous episodes that relate to this project please go to Episode #31 – How To Find Fantastic Tenants and Episode #29 – The Long Slow Flip Strategy

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.