Random Opinions:
In southern Ontario, the spring Real Estate market is shaping up to be a wild one. We’ve already been seeing multiple offers across the province for the last many months, and spring is typically the busiest quarter of the year.
As such, we are preparing to list one of our Toronto duplexes onto the HOT spring market.
The property that we have decided to sell is our first ever investment property. We’ve owned this property for 10 years and it’s been very good to us.
To help pay the mortgage initially, we rented out our guest room to our friend (basically “house-hacking” before that term was coined.) This allowed us to “buy more home” at the time and begin some of the needed renovations.
About a year later, we created a basement suite in the home and began renting that out as well. By that point we were nearly living rent free in our new home!
Through both of these strategic renovations and the newly created rental income, we were able to refinance most of our renovation funds back to us.
And that began the building of our property portfolio. Over and over we’ve utilised this same Buy, Renovate, Rent, Refinance…and Repeat (B.R.R.R.R.)
However, I proposed in this house. We started our family there. We hosted so many friends there and began so many journeys there. It’s been good to us, to say the least. This house has literally changed our lives forever.
However, the conditions and timing are too perfect; it’s time to sell. We will take this home to market on March 21, 2021.
It will be interesting to say goodbye to the ol’ girl BUT as always, we continue to grow. Stay tuned as we begin deploying these funds into new, larger and more exciting projects.
Oh, what a wonderful world!
Randall Reashore
