Property # 2

  • 4 Bedroom / 2.5 Bathroom Single Family House
  • Purchase Price: $460,000

Property Summary

* House underwent a gut renovation.
* Previously neglected by the owner, so it was in poor condition with deferred maintenance at the time of purchase.
* Larger-than-usual upfront expense caused by the renovation scope, but all went towards the increase of the property value.

Launch Costs

Category                                            Expenses 

Closing Costs                                       $10,632
Renovations                                          $137,059
Furnishing                                             $13,649
Pre-Launch Costs                                $6,593
Initial Supplies                                       $1,356


No items found.

Work performed

The property's prior owner stopped paying the mortgage on the property, so he didn't invest much into the upkeep of the property. As such, although the property itself had a strong foundation and lots of things to like about it, the interior was falling apart. So, we essentially went ahead with a cut renovation.

We've replaced the entire kitchen and redid 2.5 bathrooms. In the living room area, we took down some of the wall to open up the space and make it more welcoming. We've then updated all of the bedrooms.

The end result came out to be a really large, spacious modern house in a lovely neighborhood close to the subway and downtown.


Due to the extensive renovations, it took us around 3.5 months from starting to work on the property to furnishing it.

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