$2500/month to live in that little garden suite home? Wow. That's nuts. I Toronto, in The Beaches area, if you have a down payment, you can get at 2 bed 2 bath (no parking/locker/amenities) for $3000/month includes mortgage and condo fees.
Those number do not add up the mortgage with 20% is over $5700 then taxes and insurance on 3 units should be over $6500 without heating and lighting that means they have to have 3 separate meters, I do hope so as I see a EV charger on that back unit.
I don't understand why such a tiny home with such a large enclosed backyard...you could build a normal sized home with a normal sized backyard instead.
Also $7000 * 12 * 5 = $420000, don't we still need to deduct mortgage interest, maintenance, utility cost etc? Sorry, I just want to understand how you got to the $500000 profit in 5 years. Thanks
@@Roger-n7v1s He mentioned a 7% appreciation / year = roughly 84000 / year * 5 = 420k. Net rental cashflow = 12k/year * 5 = 60k, mortgage principal payments by tenants I assume is the remainder, probably some rounding here and there. Total gain is 500k over 5 years, 100k/year, I assume they put 20% down, aka 240k meaning your average yearly return is 42-48%
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$2500/month to live in that little garden suite home? Wow. That's nuts. I Toronto, in The Beaches area, if you have a down payment, you can get at 2 bed 2 bath (no parking/locker/amenities) for $3000/month includes mortgage and condo fees.
It would be nice if the cost and rent was included in the description
How much did it cost for building the house in the backyard? We own our house and we have a big open garage straight to our backyard..
Those number do not add up the mortgage with 20% is over $5700 then taxes and insurance on 3 units should be over $6500 without heating and lighting that means they have to have 3 separate meters, I do hope so as I see a EV charger on that back unit.
Yes there are 3 separate metres as shown in the video
7% is a bit steep, i'd take 3-4% and see what the return is, and even if 25% i'd take that deal
I don't understand why such a tiny home with such a large enclosed backyard...you could build a normal sized home with a normal sized backyard instead.
I'm confused by the Y/Y calculation. Shouldn't it be 42% / 5 years = 8.4%?
Also $7000 * 12 * 5 = $420000, don't we still need to deduct mortgage interest, maintenance, utility cost etc? Sorry, I just want to understand how you got to the $500000 profit in 5 years. Thanks
@@Roger-n7v1s He mentioned a 7% appreciation / year = roughly 84000 / year * 5 = 420k. Net rental cashflow = 12k/year * 5 = 60k, mortgage principal payments by tenants I assume is the remainder, probably some rounding here and there. Total gain is 500k over 5 years, 100k/year, I assume they put 20% down, aka 240k meaning your average yearly return is 42-48%
@@ichimoji7069 Ah I see, assumption of 7% appreciation on the property. Thanks
Buy something in the States why have the headache of an ADU
$1000/month minus taxes minus maintenance = bad investment
For clueless Canadian real estate 'investors', this is actually as good as it gets right here
great video, woh's the builder?
Thank you! The builder of the garden suite is Simon Wong. His Instagram is: kitchenertinyhomes
Who wants to pay these prices? If you can afford this buy your own house. Tiny house for $7000 bucks a month. This economy is broken.😂