Recently I was asked to speak to a group about flipping houses.  Here's a few tips for you in the following blog series.  If you have any additional questions or discussion points, please feel free to contact me.  If you have any other topics you'd like to cover in a future blog, I'd be happy to review them      It just doesn't happen like you see on TV, so stop it!  Even those make-your-basement-an-apartment shows are... [read more]

Continuing from Part 2, we are going to look in futher detail at all the things you must consider before choosing to flip a house:   Let's talk about the first point:  LOCATION, LOCATION, LOCATION.  You've heard it before, but location is all important!!       Pick an area where your completed home/project will SELL! And sell fast when it's ready to go -- TIME IS MONEY!  Look at established... [read more]

TIMING  Plan for when to buy Is any of the reno dependant on the weather? How long is the reno going to take? Plan when to sell   Typically - and I only say typically - it is best to buy in the Fall/Winter.  The frenzy of the spring is over, people have moved during the summer, homes are staying on the market longer due to lack of buyers. This gives you the fall and winter months to renovate.  You must plan ahead!  Are you doing any outside work?... [read more]

WHAT TYPE OF HOME AND WHAT TYPE OF SALE ARE YOU LOOKING TO "FLIP"?? Will it be: condo townhouse, or  detached single family? Will it be a: typical resale power of sale estate sale, or private sale? Condo Units:  There are lots of opportunities to renovate old condos, and this type might be good for a first-timer.  Update the kitchen, bathroom and flooring IF YOUR RESEARCH PROVES THIS IS ADVANTAGEOUS.  Keep in mind, some renos... [read more]

I’m looking to buy a house and I’ve heard that sometimes not all of the appliances and light fixtures are included in the sale. How do I know what stays and what goes? Posted in Tips and Tricks As you walk through an open house, gleaming stainless steel appliances and trendy light fixtures may catch your eye. But it’s possible that the seller plans on taking these items to their new home. Buyers can be in for a costly surprise if they find out that the appliances,... [read more]

Buying a house is a highly individual decision, but current trends are creating a favorable situation for many would-be homeowners. Interest rates are low, inventory is rising, home prices are ever-rising, and rents are through the roof.   Five Compelling Reasons to Buy a House Right Now 1. Interest Rates Are Still Low A fixed rate mortgage now averages about 3% and variable rates are even lower.  Do the math with any mortgage calculator you can find online or on... [read more]

Contrary to popular belief, the “spring market” in Toronto starts in February (or maybe even January by the looks of things so far). Some of the fiercest bidding wars in the city are fought on our coldest days. The Buyers are ready in February (and want to close “in the spring”), but the Sellers all think they should wait until April or May – which of course is when EVERYONE decides to list their houses for sale. More inventory in the real spring means... [read more]

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Yeah, yeah - you've heard it all before.  Kitchen and bathroom renos yield the most return.  That's why you didn't install the skylight or the pool.   But there’s more to it than that.   Fixer-Upper Obsessed   We've seen the shows (like Property Brothers, Love It Or List It etc.) and we are obsessed with renovating, but there is so much more to consider before you start ripping out walls:   The expense for the... [read more]

Can you afford a house? You would be surprised how many people assume the answer to this question is “no” without even a pause for breath. There are a great many people who can't afford to buy property — we all know that, and the last few years have not been kind to anyone below a certain income threshold — mortgage rules in Canada have tightened and CMHC is making it harder to get mortgage insurance even if you do qualify at the bank for a mortgage. But, there... [read more]

It takes a lot of patient research and planning to make a successful "flip".  The above are KEY! Don't skimp on the planning process no matter how anxious you are to get the project going!   I will discuss these steps in detail in the next few blogs.  Please stay tuned! [read more]

In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]