Sold Date: 04/09/2023
My client was looking for their very first investment property. With the budget we had, we had to look somewhere out of the city where house prices were lower but still a good sized property for investment purposes. I took my client to different neighborhoods and we showed a few properties. Some we had put an offer for but didn’t work out due to competitive buyers. I recommended that we start looking for listings that didn’t have much competition and less listing cosmetics like staging. It was better to look for properties that weren’t as upgraded because that meant less buyers and offers. We would be able to offer under listing and work/negotiate within budget for potential properties of interest.
We found 76 Srigley, a 3 + 2 Bed and 3 Bath detached raised bungalow home in Barrie. Although not fully renovated, the home had lots of natural light and really great sized bedrooms. A really great open concept space with lots of renovation potential. If we were able to get this home for less then we would have the budget for some renovations before renting.
There was no offer date nor other offers for this property at the time. I checked showing activities to be sure and there weren’t any interested buyers booking showings anytime soon. I encouraged my client to give this property a try and told them they had a good chance to secure this property if they liked it. We gave in our offer and since there was no competition we included an inspection as well. We secured the deal and avoided other buyers from competing. In the end, we still had a budget for renovations and that’s exactly what we did before leasing it out. Congratulations on your first investment property!
“The little things can give you more than you ask” – Dinah Wong
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