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!


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


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