Beecher Real Estate

Some Success Stories

1) Live Free and Accumulate Wealth!

A single man in his 30s was looking to invest in an income property that he could live in and have the income from the property pay the mortgage. He was worried about the recession and job loss, so he wanted something that would give him, in addition to a place to live, a guaranteed income and a property that would increase in value over the years. He also wanted a property that required low maintenance, as he wasn’t handy.

I wanted to place him in an area that had a high demand for renters so that his property would never have issues with finding good tenants. It took approximately 1 year to find the right property, but when we saw it, we knew that it was the right fit. It was a modern sound structure, with 3 nice units, well maintained, and a private driveway with a detached 2-car garage.

I sold his condominium for well above his asking price and this allowed for the down payment needed. With the rent he is now receiving for 2 of the 3 units in his new property, he had a positive cash flow. In addition, he was able to move into the 3rd unit himself and live without any additional mortgage or rent payments to make! Mortgage, property tax, utilites and building insurance payments were being covered by rent received. As a further bonus, the property also had the option to expand by building a unit above the double garage. His net (above costs) rental income every month and his own ongoing rent-free accommodation is going to allow him to build this additional rental unit within 2 years and subsequently further increase his net monthly rental revenue and property value in this prime location!

2) Start Out on the Right Foot!

A newly-married young couple wanted to buy an income property that they could live in and have tenants help pay the mortgage. As they had a small downpayment, and not enough to buy a dream home, they felt more secure investing in this type of property so that in a few years they would be able to re-finance it in order to have a larger downpayment for their single family home.

I wanted to place them in a location that would continue to increase in value and would provide steady income from the abundant rental demand of the area. I chose just such an area for them. It took approximately 6 months to find the ideal house that was affordable for them. With 20% down payment and renters helping to pay their mortgage, they were able to live in one of the units and still break even financially each month.

3) “Kill Two Birds With One Stone!”

A set of parents wanted to buy an income property for their daughter that she could live in while going to the University of Toronto. They felt that investing in an income property with other tenants helping to pay the mortgage was wiser than their daughter paying rent to someone else.

After 9 months of searching, I found a property that was affordable and located in a great location close to the university. The property had 4 units and was well-located in/near a popular area for rental properties and young adults. Their daughter occupied one unit and the mortgage was paid by the other renters. With the rental income coming in, there was a positive cash-flow of $900.00 per month, which helped to pay for their daughter’s tuition and other student expenses.