Inside View Management Inc
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Real estate investor based out of Waterloo region managing single and multi family properties.
Looking for multiple demo crews to demo kitchens and washrooms.
07/24/2021
How to live rent free
š” buy a three bedroom house
š” live in one of the rooms, rent out the other two rooms
š” your mortgage payments will be covered by your rental income
07/23/2021
Quick low budget rental grade Reno in this 2 bedroom, 1 bathroom duplex rental unit. New countertop, sink, flooring, paint, trim, doors, updated bathroom and light fixtures.
15k reno and rented to amazing new tenants!
07/22/2021
Every time I walk into this utility room I get excited like a baby. Iām very grateful for everyone who helped me get this 16 unit building as this is stepping stone for me to get into this multi family space. There is a lot to learn and grow in this space and Iām excited for the new chapter in my life.
07/21/2021
Quick low budget rental grade Reno in this 2 bedroom, 1 bathroom duplex rental unit. New Kitchen, flooring, paint, trim, doors, updated bathroom, new pot lights and light fixtures.
18k reno and rented to amazing new tenants!
06/21/2021
Real estate abbreviations can sometimes be really confusing, yes?
Hereās a little cheat sheet for you to make your lives easier! š
06/15/2021
How do we find deals to WHOLESALE?
Another day in investor life, In this property, we have had issues in regards to sewer couple of times and got the plumber to snake ~30 feet underground. In both cases, the issue got resolved but it keeps popping up again. So decided to bring in a crew to do camera inspection to checkout whatās happening underground.
The expected never happens; it's always the unexpected that happens. In this case, the camera got stuck inside sewer pipe and doesnāt want to come out. We had no choice at this moment as the inspection company had other jobs to go. We ended up digging the concrete to give his camera back and fix it properly. To everyone surprise there was a tree root in the plumbing pipe which has been growing for a while. As the pipe being cast iron, it degraded over the years and collapsed underground which allowed the roots to creep up into the pipe.
Overall we paid more than 10K to fix this issue as we had to remove lot of soil after we dug the concrete as the land was basically absorbing lot of water under the house. We got rid of ton of land and re-did all the underground plumbing with new ABS piping which should last forever hopefully.
Bought this property from facebook groups during COVID. A realtor posted about an off market deal that needs to get sold asap. I believe I replied to the post in 5mins since he posted and got in contact with him immediately. After getting all the details of the property, price and the reason for selling, I was able to negotiate the price and got it under contract the same day on the condition to see the property once before closing.
Few lessons learned while getting this deal at a good price are:
* I was ready to take up the problematic tenants as-is. they werenāt paying rent for the last 6 months and doesnāt want to move out of the property. seller already had a paralegal working with him and lot of that process has already been in the works during the purchase.
* Being flexible goes a long way in negotiation - I was able to give ~20k directly to help him pay off arrears with the bank.
* Be ready to spend some extra dollars for small things - I was ready to clean up the whole house myself. we threw away two 16 yard bins of garbage. tenants were storing their garbage bags, food waste in the basement for more than 3 months at least.
Purchase price : $330,000
Renovations: $15,000
ARV: $500,000
with the crazy appreciation of Kitchener market in the last year, I got it appraised for refinance at $650,000 last week. overall, with little compromises and work, was able to get all the down payment and was able to take out another 120K from the house in ~8 months.
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Kitchener, ON
N2M3K3