02/25/2023
Property Features:
-Property Type: 2 Storey Detached Bungalow
-Location: Stratford, Ontario
-Bedrooms: 3 beds
-Bathrooms: 3 bathrooms
-Basement: Yes (Fully Finished)
-Parkings: 3 parkings (1 car garage)
-Listed: $699,990 (with an offer date)
-We bought it at: $875,000
-Accepted offer: Feb 14th 2022
-Deal Closed On: May 25th 2022
Backstory:
Our investor clients, who had already purchased a few properties with us were looking for another property to add to their growing real estate portfolio! We looked at properties with strong stable cashflows and newer upgrades to keep our operational expenses as low as possible. We saw properties in: Kitchener, Cambridge, Guelph, Woodstock, Ingersoll, & Stratford. Given the market conditions, with ultra low interest rates, high consumer confidence, and record low inventory to choose from at the begin of the year, we faced multiple bidding wars.
On February 12th, in the afternoon my clients wanted to see a semi-detached in Stratford, and the offer presentation for it was in the evening. I quickly, did my research on the property, and booked a last minute showing and left from Mississauga to show them this property. We put in an offer for that semi, and a few other offers came in, however it got sold firm for 700k plus (listed at: 550k). In the same area, I saw this house with the “for sale” sign outside. Booked the showing right there and then & we loved this property, as it fulfilled all our requirements. Next day we booked the showing again to see it during the day, and next day got the offer accepted on this house with another offer to compete with! Comparable properties were selling for low 900’s and having a hospital near-by gave us access to AAA tenants!
Call for my expert advice at: +1 (647) 564-0744 or email me: [email protected] to discuss your options to enter, exit, upsize, downsize, lease, rent or invest in this market.
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