Big discount on 2-bed condo. Rent or Flip.

aaronmoore

Frequent Forum Member
REIN Member
Anyone want a 2-bed condo in Guelph at a big discount. Good for rental or fix & flip.

How can you profit?
1) Buy for $229,900, renovate, then sell for around $300,000.
2) Buy, renovate, rent, refinance and pull out some of your money. With today's low rates, this property can cash-flow as a rental.

We have a long closing on this one, so you have lots of time to get a bank mortgage.
Condos are easy to renovate. If you're looking to buy a rental property, then consider buying two discounted condos rather than a 2-unit property. Condos can be a lot easier to manage.

SUMMARY:
- LOCATION: 89 Westwood Rd, Guelph
- PURCHASE PRICE: 229,900 or best offer
- AFTER REPAIR VALUE: Two units of the same size have sold for $297k and $315k in the past 6 months.
- CLOSING: June 03, 2020
- BEDS/BATHS: 2 bed, 1.5 bath
- SQFT: 945 sqft
- AGE: 1981
- PROPERTY TAX: $2,000 approximately
- CONDO FEES: $576.62 (All utilities included)
- ESTIMATED RENT: $1700

RENOVATIONS NEEDED:
-paint & flooring
-kitchen and bathroom updates
-take a look at the pictures and videos to decide how much or little you want to do.

Pictures, videos and more info are here: https://www.housedealsgta.ca/property/income-property-for-sale-guelph/
 
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