Interested in Owning an Investment House with Basement Suite?

Be a super investor and start making real equity and monthly cash flow!

What a great way to generate very positive cash flow! I have lots of rental properties and know the struggle to ensure your rental is generating enough revenue to cover the costs associated with owning the property. Mortgage, taxes, insurance, management, maintenance, utilities, condo fees… the list goes on and on.

Owning one property with one mortgage and combining costs associated with one property while generating two incomes is simply smart. Do not be fooled, this property costs more money, insurance costs go up, maintenance costs go up, management fees are higher, utilities come into question. Overall, investors and landlord win! I see a lot of portfolio financial statements every year. On a yearly basis property owners with the basement suite make higher net revenues.

2 Simple Examples of Rental Properties with Suites

(1) New 2 Story House with Basement Suite 1500 – 1800 sq ft top floor and approx 600 – 900 sq ft basement suite. 3 Bedrooms up 1 – 2 Bedrooms down. Separate laundry

  • Purchase Price Average: $425,000
  • Top Floor Rental Revenue: $1500 + Utilities
  • Bottom Floor Rental Revenue $1000 + Utilities
  • Newer Areas have higher density.
  • Newer properties have lower maintenance costs

AVERAGE NET INCOME PER MONTH: $750.00 per month
AVERAGE NET INCOME PER YEAR: $9000 per year

(2) Older Bungalow Style House with Basement Suite in Mature Location 1000 – 1300 sq ft top floor and approx 900 – 1100 sq ft basement suite. 3 Bedrooms up 2 Bedrooms down. Separate laundry. Separate Entrance

  • Purchase Price Average: $400,000
  • Top Floor Rental Revenue: $1500 + Utilities
  • Bottom Floor Rental Revenue $1200 + Utilities
  • Lower density area and on average higher rental prices as the units/suites are more comfortable and more space for living.
  • Higher maintenance costs
  • Basement Suite is much more comfortable and can get more money per month!

AVERAGE NET INCOME PER MONTH: $850.00 per month
AVERAGE NET INCOME PER YEAR: $10,200 per year

IMPORTANT!

Make sure you achieve favourable mortgage terms. You want low payments, no CMHC, and flexible term. Quality interest rates. All effect bottom line!

Higher a property manager! You want to limit your vacancy to 1 month per unit per year. Quality tenants and properly set up lease agreements to navigate tenants sharing a house is extremely important. Click here for property management details.

Location Location Location. The fun part of having these properties is that worse case scenario you break even or make a little. Which is great. The real money is made with equity and riding changing markets. Get a proper investment in the right location at the right time. The potential for a major win is very very real.

For more information contact me anytime! There are many options in Edmonton, Fort Saskatchewan, Sherwood Park, and Surrounding Area.