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Conditionally Sold
www.238Richmond.info
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 10 Bayview Cres located a 2 minute drive of Smith Falls on the Rideau Canal. Last lot on the street awaiting your purchase. $119,000 www.10bayview.info
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Sold
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00 10th Line Rd, Beckwith. 110 acres fronting 10th line and Lake Park Road. $790,000
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Where did July go. Seems to have gone by in a flash
Here are some views from our office
Enjoy this months news letter
Perry/Helene
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| Five Ways to Know that You've Found a Great Investment Property |
After our reviewing the responses to our October
newsletter reader survey (thanks for participating!!), we found that next to financing your real estate investment, the next most important thing you want to know about is how to find (or know you've found) a great investment property. So, I'm going to take you through what I call the 5 Ah Ha's of finding a good investment property. I call them Ah Ha's because you will go "Ah Ha!" when you find a property with each of these features!
Ah Ha 1: It meets your objectives
Making decisions based on your
real estate investing objectives is the foundation of our strategy, so it makes sense that the first AH HA is that the property meets your objectives.
For example, if your objective is to make $200 per month in positive cashflow you need to go out and find a property that will produce the money! Usually, it's easier to obtain positive cashflow from a multi-unit property. It could be a house with a basement suite (2 tenants - 2 rents), a duplex, a tri-plex, or a small apartment building with 4 or more units. One of the easiest and quickest ways to determine if it will cashflow is using the Gross Rent Multiplier or GRM.
To Calculate the GRM
Asking/Purchase price = $150,000
Monthly rent = $1,100
$150,000/($1,100 x 12) = 11.36 (GRM).
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Buyers turn to letters to snag homes in Canada's hot real estate markets
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Some realtors say letters have become a 'must' because sellers often seriously consider sentiments relayed in a note when choosing what offer to accept.
TORONTO - Monica Martins and her husband had been looking for a house for nine months by the time they fell in love with a "character home" in Toronto's east end.
With demand for properties high and bidding wars the norm, they knew getting the home wouldn't be easy, so to convince the seller to choose their offer, they decided to go beyond simply digging deep into their bank account.
Despite her husband's doubts that it would carry much weight, Martins put a pen to paper and scrawled a note that described her family, detailed how much they adored the home and noted that she and the sellers had shared tastes in books and furniture. She also included an informal commitment not to gut or demolish the place as had been done to another property down the street.
"If you pick us, we will make it our own over the years, but we love the house that you've loved so dearly and would love to live in it and raise our family in it," Martins recalled writing, before tucking in a photo of the family complete with her daughter and dog and leaving the note with her realtor
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Tips and Tricks for Living in a Staged Home
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Feeling like you are walking on eggshells in your staged home? Try these tips and tricks.
Your home is on the market, pristine and expertly
staged to get it sold. Now what? How do you still live in your home and keep it in perfect condition - especially for the unexpected showing?
First and foremost, you have to change your mindset; it is not "your home" anymore. Treat the house as if it were a five-star hotel; you need to maintain the staged look and keep everything spotless. You do not want it to appear that anyone is living in the home; there should be no dishes, family pictures, or piles of personal stuff visible. You want your potential buyers to easily envision themselves living in the home. The good news is that keeping your house like a five-star hotel will also enable you to treat yourself and your family to a mini-vacation - no cooking and lots of fun outings!
So how do you and your family eat, sleep and live in your home without leaving any evidence? Here are some simple tricks:
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A Sizzling Summer for Ottawa Real Estate
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Members of the Ottawa Real Estate Board sold 1,614 residential properties in July through the Board's Multiple Listing Service® System, compared with 1,524 in July 2017, an increase of 5.9 per cent. The five-year average for July sales is 1,501. July's sales included 1,238 in the residential property class, an increase of 3.6 per cent from July 2017 and 376 in the condominium property class, an increase of 14.3 percent from a year ago.
"Ottawa's condo market continues to positively impact overall residential sales trends with year-to-date condo unit sales up 16.5 percent from this time last year," states Ralph Shaw, Ottawa Real Estate Board President. "As well, our overall inventory levels in both the residential and condo market are improving which will help ease pressure on prices. Units available are currently down 16 percent down from July 2017 rather than the 24 percent we were down at the beginning of the year."
The average sale price of a residential-class property sold in July in the Ottawa area was $441,206, an increase of five per cent over July 2017. The average sale price for a condominium-class property was $280,526, an increase of 5.3 per cent from July 2017.*
To see the remainder of the article from the Ottawa Real Estate Board
click here
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