150 REDPATH CONDOS - YOUNG & EGLITON - EXCLUSIVE ACCESS/PRE CONSTRUCTION

When it comes to investing I prefer privately owned buildings with multiple doors 

(3-plex/6-plex) and revenue streams over a single, revenue generating unit. Over the years I've been pretty vocal about freehold, income property investment.  

Some of you may find my recent blogger and Facebook posts praising Freed Developments new, and now sold out town home project at Young and Eglinton a little strange based on my historic position.  Not to worry I didn't sell out I've simply been crunching the numbers. 

At the moment it's almost impossible to find a trip-plex in a good location thats not well over a million dollars.  Most investors already own property and thus require 20% down.  Financial institutions have tightened their lending policies for multi residential dwellings requiring larger deposits even for first time buyers. Don't get me wrong if you have the money multi residential is still my favourite game in town but what if you don’t have a few hundred thousand dollars sitting in a shoe box?

If you read the papers you'll no doubt have seen articles on recent record breaking price achieved by a Picasso painting at auction earlier this month. 

Classic cars, vintage wine and fine watch auctions have been doing the same over the last couple years.  Why is everything so bloody expensive you ask?  

Because money is so damn cheap and international central banks are driving the value down faster than you can waive your bidding card. 

Look at the position your friends are in, the ones that decided to wait for prices to come down before they jumped into the market. Houses as with many other assets are now out of reach and 10's if not 100's of thousands of dollars of appreciation are not at their disposal.

So where does one invest when coming up with a 200k deposit is not possible?  You look for pre-construction in Fantastic locations with a healthy mix of commercial retail and office space, access to public transit, and brilliant, reputable builders.

This is not the "flip quick and get rich" game that was played for a brief period in the early 2000's.  For a single condo unit to carry itself without the need of a monthly cash injection you're looking at a 30% down payment. Some may not mind pitching in $200/month to make up a short fall in rent but to avoid that you're looking at 30% down. The good news is you don't need all that money upfront.  We're looking at holding properties for a minimum of 5 years to maximize re-sale potential and income generation. 

The strategy is to buy pre-construction, put 30% down before closing, rent and hold for no less than 5 years ideally.

Why is location so important?  We want AAA locations because we want AAA rent rates and stable, established neighbourhoods in order to protect our investment. Add a new rail transit line with a area that’s due to grow in density far exceeding current and slated development housing options and Yonge & Egliton has all the right stuff.   

In September 2008, Metrolinx launched a regional transportation plan – The Big Move – a 25-year, $50 billion plan for coordinated, integrated transportation and transit in the Greater Toronto and Hamilton Area (GTHA). One of the first wave of projects currently underway is the Eglinton Crosstown, which represents an investment of $5.3 billion (2010$) toward better transit in Toronto.

The Crosstown is a light rail transit (LRT) line that will run across Eglinton Avenue between Mount Dennis (Weston Road) and Kennedy Station. This 19-kilometre corridor will include a 10-kilometre underground portion, between Keele Street and Laird Drive. 

Lets look at Yonge & Egliton more closely

• Average property values exceed $1,600,000.00
• Land values of $385+/Square foot.  
• New build construction costs $250+/Square Foot.  
• Condo rental rates in the area are $1500-1700/month for one bedroom units. 
• Development space is limited due to existing commercial and residential densities. 
• New Transit System on-line mid 2020

Of all the developments I'm aware of 150 Redpath Ave is the one I choose to endorse based on the criteria laid out above. I will have VIP access to units over the entire summer after which the development will be release to the public and prices will increase. Time is of the essence although we will have breathing room. The sales centre is due to open first week of June.  

If you'd like to discuss this project or other investment options while the value of our dollar can still buy more than cotton candy call me. I’m exited about 150 Redpath Ave and believe it’s a great option for investors and end users so if you know of any first time buyers looking to make the right move coming out of the gates please let me know. 

I've attached a link to the broker portal allowing clients to view the architectural renderings, floor plans, cost schedule etc..Contact me directly for username and password.

http://www.redpathcondos.com/broker/

Talk soon, 

Jimmy Vlachos

Royal LePage Signature 

416-953-0781

SOLD in 4 DAYS - 3 Bedroom, 2 Bathroom Townhouse in Centennial Gardens.

Immaculate, bright and upgraded, 2 storey, 3 bedroom, 2 bathroom townhome available in sought after Centennial Gardens community. 1356 square feet home. Premium main floor unit. Hardwood floors throughout including the master bedroom. Gourmet kitchen featuring stainless steel appliances, granite counter tops, double stainless steel sink, pot lights, and under-cabinet valance lighting all of which are upgrades. 

Rare upgrades include bathroom on lower level beside family room, hardwood in master bedroom, berber carpets in 2nd and 3rd bedrooms and crown mouldings.  Open concept living with walk-out to spacious balcony perfect for relaxing with a drink or BBQ'n a couple of steaks. En-suite laundry on the main floor with direct access to garage and parking. This home has been loved and cared for by the owners. Move in and enjoy. 

EXTRAS INCLUDE:

Premium brand stainless steel fridge, stove, dishwasher and microwave/hood. New, upgraded AC unit (August 2014). Garage door opener and key pad. All light fixtures and window coverings upgraded by owners included. 

For additional information or to book a showing contact:

Jimmy Vlachos

416-953-0781

Royal LePage Signature 

SOLD - 390 Cherry St DISTILLERY DISTRICT 1 bed/1 bath. Assignment Sale.

Bright, brand new, contemporary loft in historic Distillery District. 505 Square foot plus full balcony (balcony square footage not included). 1 bedroom 1 bathroom loft. Floor to ceiling windows, north views of the city with high, 9ft ceilings. Steps to boutiques, restaurants, cafés, art galleries, theatre & Cherry Beach. Locker included.  Enjoy as your private residence or reap the benefits of an income property in a highly sought after community and tourist destination. New TTC stop right in front of the building. Excellent floor plan, not a inch of wasted space! Estimated maintenance fees $265.69/monthly. Estimated taxes $250/monthly.

Fixtures include stainless steel, energy star, Whirlpool appliances (frost free refrigerator, self-cleaning oven), kitchen back-splash, quartz counter-tops, undermount stainless steel sink, and engineered hardwood floors throughout. Individual climate control of central heating and air conditioning. Parking available from builder for 36K. Interior has been digitally staged. Finishing touch-ups for balcony to be completed shortly. This is an assignment sale. Additional closing and registration costs of approximately $7000 can be added to purchase price and incorporated into mortgage if purchaser desires.  Check out additional info at

http://homesite.obeo.com/873810

For additional information or to book a showing feel free to call me any time.

Jimmy Vlachos
Royal LePage Signature Realty
416-953-0781
jimmy@incomepropertiesto.com

SOLD - 1 Bedroom Condo in HISTORIC DISTILLERY DISTRICT

Sun kissed, contemporary loft in historic Distillery District. Spacious 755 Square foot, 1 bedroom loft with den and Juliette balcony. Floor to ceiling windows, West views of the city with high, concrete ceilings. Steps to boutiques, restaurants, cafes, art galleries, theatre & Cherry Beach. Parking & locker included.  Enjoy as your private residence or reap the benefits of an income property in a highly sought after community and tourist destination. New TTC stop right in front of the building. Available June 1st, 2014. This is the most affordable unit in the entire Distillery District currently listed. Take advantage of this fantastic offer while it lasts.

 

Fixtures include stainless steel Whirlpool appliances, quartz countertops and engineered hardwood floors throughout. Broadloom flooring in master bedroom for added comfort and extra large, built-in master closet.  Frosted glass sliding doors to ensuite bathroom.  Bathroom features a double sink,  custom vanity & ensuite laundry.  Lots of storage throughout the entire loft.

 

If you have any questions or would like to arriange a showing call me at

Royal Lepage Signature Realty., Brokerage 416-443-0300

JIMMY VLACHOS / INCOME PROPERTIES

 

 

 

 

 

 

LEASED - Main Floor Apartment Steps to Withrow Park - $1799/Month

Brand New, Modern, Approx 700 Sf, 1 Bedroom Apt. Steps From Withrow Park. Private Entrance, Bbqarea, Full Backyard, Hardwood Floors, Granite Kitchen Counters, Stainless Steel Appliances, Exposedbrick Wall, En Suite Washer/Dryer, Marble Bath. Steps To Danforth Ave & Queen East, Shopping, Restaurants, Pharmacies, Supermarkets, Gyms, Bloor Subway Line, Dvp, And Gardiner Exp. Tenant Pays 20% Of Hydro ($60-70/Month). Excellent Landlord Move In And Enjoy

 



 

LEASED $1147/Month Logan and Danforth Apartment

Brand New, Modern, 1 Bedroom Basement Apt Steps From Withrow Park. Private Entrance, Bbq Area And Patio Space, Hardwood Floors, Granite Kitchen Counters, Stainless Steel Appliances, Exposed Brick Wall, En Suite Washer/Dryer, 4 Piece Marble Bath. Steps To Danforth Ave & Queen East, Shopping, Restaurants, Pharmacies, Supermarkets, Gyms, Bloor Subway Line, Dvp, And Gardiner Exp. Excellent Landlord Move In And Enjoy. No Pets, No Smokers Due To Allergies. Shows Perfect 10. Great Landlord. Tenant Pays 27% Of Hydro Approx $75/Month. For More Information Contact: Jimmy Vlachos - Core Realty Group Inc., Brokerage - 416-406-0000

BUYING THE FIRST HOUSE YOU SEE - how its done properly without buyers remorse. SOLD FIRM 15 Drexel Rd

I received a call last week from previous client of mine letting me know they had referred me to a family member looking to buy a home.  I would be working as the co-operating agent representing the buyers. 

After a brief discussion and a few emails I set up a property search and by the weekend we had a short list of places to see. 

 

I booked 5 showings all within $30000 of each other.  The showings were going well,  then we walked into the 4th home on the list.  The property was stunning, miles above any of the others we had seen that day.  There was a busy open house and the listing was only 2 days old.

 

My clients were talking offer the moment we walked out the door and wanted to know what to do next...

 

Have you ever been shopping for a pair of shoes, jeans, maybe a TV and find what your looking for in the first store you go into to?  For some reason any time I buy the first thing I see I end up seeing it or something better on sale for a wicked price 2 days later and feel sick to my stomach.  When I don't buy that perfect item and hunt the rest of the day to be sure nothing better is out there it's always gone by the time I return. 

 

Now that's just a pair of jeans or shoes... making that mistake with a home hurts a lot more. 

 

Prior to going out with my clients that day I told them that even if they find the perfect home on our first time out I would insist on showing them several more homes just to be sure and avoid buyers remorse.

 

If you fall in love with the first home you see (and it's not set up for multiple offers) this is what you or your agent should do:

 

1. Register an offer on the property immediately (especially if its a new listing with a very busy open house)

2. Include at least one condition (3 day financing or inspection clause will work)  

3. Submit the offer with a certified check/money draft and book appointments to view other comparable listings within the conditional period.

 

The aim is to get the property off the market by binding the sellers to an agreement you can walk away from within 2 to 3 days should something else be found.  Don't go looking at more houses without first tying down the one that feels right.  The premise is you've fallen in love with a home but want to protect yourself from your own ignorance, it's the first home you've seen not the 15th. 

 

Make sure your deposit is certified because if you choose to walk away certified funds are released sooner than non certified funds and most people don't have two deposits sitting around.

 

Now that everything is tied up and you've secured the property go have a look at similarly priced properties currently listed.

 

In my opinion an agents job is to protect and advise his/her clients and provide the proper strategy for each deal.  The general paper work, the showings etc...  not exactly rocket science, protecting people even when it may come at a financial expense is how an agent is supposed to earn their keep.

 

I booked 6 showings in the immediate area, all comparable in size, style, and age, within $30000 of the desired property.  It took us 2 hours and in the end my clients were 100% sure they made the right decision.  Every home we visited made the property they conditionally purchase look better.

 

We waived our conditions and the deal will close at the end of the month. 

 

When it comes to Real Estate you want to avoid surprises, disappointment,  and excitement.  Always do your due diligence.  Strategies exist to make sure your making the right move you just need someone with the knowledge to employ the proper strategy at the proper time.

 

Oh, regarding shoe shopping, ask the store to hold your desired item for a few hours and take a business card...  My girlfriend Samantha taught me that. 

 

Jimmy Vlachos - Core Realty Group Inc., Brokerage - 416-953-0781