Hello Everyone with Real Estate Investments in Hamilton Ontario!!
I imagine you’re all fielding questions on real estate investing in Hamilton from friends and relatives with national headlines talking about the Hamilton CMA up 13% on average from August last year to August 2015. Here’s the article in case you’ve been under a rock 😉
My comments on the subject can be read here from my interview with Canadian Real Estate Wealth Magazine: Hamilton Still An Investors’ Paradise
Hamilton Vs. Milton For Investment!!
Being a real estate geek, I’m always fascinated by stories on real estate even if they do not pertain specifically to Hamilton, as I’m always looking to learn.
For the past month, my brother Tony has been advertising his house in Milton for rent. It’s a 3 bedroom, 2.5 bath, 1.5 attached garage, 10 year old house, with hardwood and ceramic floors on the main floor, gas fireplace, open concept, and poured concrete patio. The only knock on the property is the original carpet on the stairs and 2nd floor. Not a big deal compared to how nice the rest of the property is and its age. In Hamilton, this property would rent for over $2,000 plus utilities and be worth over $400,000, but we’re not in Hamilton. This is Milton where the appraised value is over $500,000 and the rent has been dropped twice, starting at $1,950 to $1,850 to the current asking of $1,750 (all plus utilities).
Tony has received three applications, two with annual incomes below $50,000 and one just over $62,000 but $20,000 of that income is from ODSP (Ontario Disability Support Program). We have yet to select a tenant… It’s challenging to rent in Milton and forget cash flow!!
Compare that to Hamilton where super stars Evelyn and Mike recently purchased their 8th property (average age is 30 years old), closing end of September. In two showings, eight potentials have come through, two applications submitted onsite, 1st application makes $55,000 and the rent is asking $1,425 plus utilities for a house purchased well under $250,000.
Needless to say, without a doubt, brother Tony’s next investment will be in Hamilton and I can’t wait for him to be RICH like we wish on all our clients.
My wife and I will be rich and for those of you willing to put the work, James and I will help you be rich too. Book an appointment with one of us to see how we can help. Contact us!!!
Thanks for reading and happy Hamilton real estate investing everyone!
Erwin | MrHamilton.ca
PS: If you are just starting out investing, start by spending more time with like minded people and take guided tour of Hamilton by joining us for the next Mr. Hamilton Inner Circle by clicking here!!!