Monday Wake Up is back from the Holidays and Vacation.
ALEXJWILSON.COM is Hiring
Has your dream been to work in Real Estate. Well we have a new opportunity that has just opened up. We are looking for a new executive assistant. A few features are:
- Full Time Work
-Salary Position
-Opportunity for bonus
- Benefits
- Work in the heart of Downtown Toronto
If you are interested or know someone out there that is looking please have them email contact@alexjwilson.com for more details.
Re-positioning An Apartment Building - A Before Video
Welcome to 549 Main Street East in Hamilton. This is the 12 unit apartment building we introduced you to in October. We have started renovations in the building. This is the first phase of our re-positioning of the building. We will be investing $300,000 worth of capital into the building which will allow us to increase the rents in the building. The original rents in the building averaged between $650 to $700 per unit. Once our updates are completed we will be able to achieve rents of $1,200 per unit. Overall this will increase the value of the building to between $1.6 - $1.7 million dollars. With the purchase price of $950,000 + our investment of $300,000 our net gain will be between $350,000 to $400,000 in 1 year.
When we are complete we will hit the 'repeat button' and do this all over again.
This is how you build generation wealth that will help you retire early.
In 2015 we will be starting a weekly livestream Youtube show so that you can learn how you can participate in our next project.
2015 Toronto Real Estate Market Predictions
The Toronto Real Estate Market Consists of Four Market Segments: Most forecasters make the fatal flaw of talking about a Canadian real estate market. The fact is it does not exist. Houses don't move so it is possible to have an oversupply in one market and an undersupply in another. That being said, there is no such thing as a single Toronto market either. Hence we intend to narrow our focus to just the downtown (416) Toronto market. And within this market there are four segments we need to examine: the low rise market, the condo resale market, the new condo market (where less informed people equate cranes with oversupply), and the condo rental market.
1: Sales in the low rise market in Toronto may actually decrease in 2015.
No one is moving! With the double land transfer tax, it is cheaper to renovate than to move. The only opportunity will be in the townhouse segment with infill housing. For developers the opportunity will be for stacked towns. That being said, prices in this segment can only go in one direction - up and 8-10% will be the norm.
2: Sales in the resale condo market will increase by 10% over 2014.
Revenue Canada has effectively killed the Assignment Market by applying income as opposed to capital gains tax on profits plus charging HST on the profit and original deposits (treating the sale as a commercial property). The increase in condo sales will come from more listings, as most investors will sell their units as resale condos instead. We expect over 20,000 condo units to be registered in 2014 and the same number in 2015. With this increase in supply, we expect condo price increases to moderate with prices increasing by 2-3%. The silver lining for condo owners is that with the price of low rise properties increasing even faster, more buyers will be drawn to the condo market which will support current prices.
3:The new or pre-construction condo sale market is a challenge to track.
Sales and 'under construction' stats are difficult to verify. Developers can report whatever numbers they choose and they often can overstate them. The only true measurement number is completions or registered units - those units entering the resale pool. In 2015 we expect about 22,000 units to get registered and we expect developers to report about 25,000 new sales. However the two most important changes to this market are the increase in the percentage of bigger - two bedroom+ condos being sold, and the launching of not just condo but multi-use projects (incorporating office and retail space with new condos).
4: The condo rental market will continue to grow faster than the resale market as more investors rent out their units.
Currently the rental market is one and half times bigger in terms of transactions. The good news for tenants is that rents will be unchanged for most and that any increases will barely keep up to increases in operating costs for investors. But the good news for investors is that the vacancy rate will stay under 2%.
