Real Estate Investing

How It Started

How It Started 1600 1068 admin

How It Started

Yes, the conditions could be better. However, that would probably mean the return wouldn’t be where we’d like it to be. 

 

 

 

 

There are some areas that need more TLC than others. Including the bathrooms and kitchens. However, these are the main areas that truly sell a home. This means that having the ability to start from (almost) scratch allows us to bring our vision to reality. 

By updating these spaces we know we can turn this unit into a top option for renters moving to Hamilton, which is a common situation at the moment. Wanna see more? Check out all the before photos here before we turn this investment into three brand new units.

How to Get Your House Ready to Sell

How to Get Your House Ready to Sell 150 150 admin

How to Get Your House Ready to Sell

So, you’re ready to make a move: whether for your career or you are looking to relocate to a better area for your family. First, you need to sell your current home or at least get it on the market. In order to sell your home quickly and at the best possible price, you need to get your house ready to sell. In this post, we’ll go over some tips to get your home to enter the real estate market with a splash.

  1. Do Some Research: First thing’s first, you’ll need to do a little bit of research about your local real estate market before listing your home. You’ll want to do some homework on the value of your home by looking at recent sales in your neighborhood and surrounding area in order to figure out the best listing price for your property.
  2. Find a Reputable Real Estate Agent: We encourage you to do some research beforehand so that you don’t go into the meeting with your real estate agent blind. This will help both parties get the home listed appropriately and as soon as possible. Just like it’s important to research your neighborhood and home values, you should do some research before hiring a real estate agent as well. We recommend interviewing a few of them, whether you get referrals by word-of-mouth or online. Meet with a couple of them and ask them what they know about your neighborhood, where their recent sales have been, and for how much. Ask about their level of social media engagement and if they know any potential buyers right away.
  3. Cleaning and De-Cluttering: Now it’s time to make your home look immaculate in order to show it in its best light. You don’t want potential buyers to be hit in the face with the smell of cat urine upon first opening the door. You also don’t want potential buyers to have to step over magazines, dirty clothes, and Twinkie wrappers while they are trying to look at your house. So, you’ll need to do a deep cleaning of the home including the carpets, you can do this yourself or hire a professional. It’s also important to get rid of any clutter you have that’s junking up your home. Remember, buyers will look in closets, cabinets, and pantries, so those need to be organized too and not used as a catch-all for junk. This process will only make it easier on you when you have to pack up and move as well.
  4. De-Personalize your Home: When you’re cleaning and de-cluttering, be sure to put away family heirlooms and pictures as well. Think of this as a head start on packing that will also help the buyers have a clean slate to imagine how their family will fit in your home instead of being bombarded with pictures and personal objects that represent your family. If you have any furniture that is particular to your taste or statement pieces that stand out and are sure to distract buyers, it’s a good idea to put those in storage before putting your house on the market. You want buyers to get a sense of the home and not be distracted by any furniture or decor that you have, especially if it is a hot pink couch or a dead bear on the wall.
  5. Light it Up: In order for your home to be shown in the best light, you need to do so literally! Maximize the light in your home as much as possible. This means opening the blinds and drapes every time there is a showing in addition to replacing the lampshades and buying lightbulbs that have higher wattage. You want your home to be as bright and cheery as possible.
  6. Hide the Pets: We know, it’s hard to believe, but not everybody is an animal lover and the presence of your furry family member could drive buyers away, especially when cat litter is staring them right in the face, your dog’s chewed up ball or the smell of pets. Try to hide your pet’s items and take them out of the house during showings.
  7. Think About Renting a Storage Unit: As you can tell from these tips to get your house ready to sell, you’ll be needing to get rid of some stuff to make more space and make your home look as best as possible. It’s a good idea to look into renting a storage unit that way you’ll have a safe, secure place to put your belongings, including the bigger pieces of furniture, until you are ready to move them permanently.
  8. Have a Garage Sale: Another great way to get rid of clutter and even make some cash is by hosting a garage sale. If you’re moving far away or are planning to buy new furniture when you move, a garage sale is a simple way to get some of the larger pieces of furniture and decor off your hands without having to worry about storing it, shipping it, or moving it.
  9. Call a Handyman: If you’ve sold or bought a house before you know that a home inspection is inevitable. So, why not get out in front of it? Hire your own handyman that can take care of some of the basic repairs before they become a problem. Some of these repairs can also be done by you, depending on your skill level. Consider fixing leaky faucets, patching holes in walls, fixing drawers that jam, and replacing any lightbulbs that have burned out.

 

If you follow these tips to get your house ready to sell, you will be ready to list your home on the market in the best condition possible in no time. As you can see, most of the tips on the list are small changes that will ultimately help you out during your move as well.

 

At Pal Property Solutions, we are experts in real estate investing. If you have any questions or you are looking for more tips on getting your house ready to sell, please don’t hesitate to contact us, we are happy to help you!

West Ave Pre Construction

West Ave Pre Construction 150 150 admin

Another Unicorn Under Construction

We found another Unicorn! Woohoo! We love these deals that we can turn into massive wins. The sellers on this property needed to sell to someone who could be flexible as they maneuvered to the other side of the province. Especially buying in a COVID climate, sometimes flexibility is essential when many moving parts can get halted at any moment. We helped these sellers move on and they were so happy they left us a five -star review!! On the project side, the majority of the work upstairs is cosmetic, whereas downstairs we decided to take it back to the studs and start all the way from interior waterproofing. Once completed we will have a fully functioning 3 bedroom upstairs and a 2 bedroom in the basement. Happy investing everyone!  

Click here to view the Pre Renovation Photos

The End Result Is A Unicorn

The End Result Is A Unicorn 150 150 admin

A final review of the East 26th project

What a cool project that is now just humming along. We get a lot of gratification from being able to convert properties that are in need of a facelift into something viable that people can call home. This is one of those projects! We had some really neat creative elements to this deal in my opinion. One major one was lowering the concrete slab in the basement to make sure we had enough headroom to build a unit that met the building code requirements. Another was creating a custom composite beam in the basement doorways so that once again the headroom could be salvaged. Often having to make decisions on the fly and troubleshooting different ideas can really bog down a project. Our team was on point and we just kept humming along nicely. Now we have a 3 bedroom upstairs and a nice 2 bedroom in the basement all with brand new finishes. On this BRRRR we and our partners pulled out a surplus! We call those deals unicorns because they don’t happen often, but when they do man are they sweet! So of course we had no choice but to celebrate over a nice steak dinner. How can you not celebrate when you get paid a large sum of money to own a newly renovated cash flowing property?  Let us know if you want to learn more about this process!

CLICK HERE LINK TO SEE MORE PHOTOS OF THE FINISHED PRODUCT: https://bit.ly/3ce3MQ5

Description of work: Detached bungalow on the Hamilton Mountain bought in a distressed scenario and converted to a duplex

Purchase Price: $270,000
Total Costs to Finish: $135,000
After Repair Value: $575,000 
Partner Money Left in the Deal: $50,575
Positive Cashflow: $283/mo

Total ROI: INFINITE

Note: A negative amount left in the deal is actually a surplus!
Imagine getting paid to own a newly renovated cash flowing property 

Landscaping and septic tank

Landscaping and septic tank 150 150 admin

Landscaping and septic tank

This project has had a lot of first for us. One of them being adding a septic tank large enough to support the added needs of the increased water needs. Where the tank needs to be placed we had a tone of tree many of them being dead ones, over grown bushes and weeds galore.

The machine our guys were using eats branches for breakfast.