Bismark Flip
West Galt, Cambridge, Ontario
When We Started
The property was overall in great condition, the homeowner took good care of the townhouse, just completely ignored the kitchen.
Why This Property?
There was opportunity because in a market trending downwards VERY quickly (May 2022), the homeowner was in need to quickly sell the property. We knew the townhouse entry level market should still be strong so we took the risk of buying it from him and fully renovating the kitchen and re-listing the property.
What We Did
We did a full renovation of the kitchen, painting the cabinets to a very modern colour, new hardware, quartz countertops, beautiful backsplash, painted all the walls, new flooring and painted the main floor door to a lime green to a modern black. Completing the renovations took around 4 weeks.
How We Increased Value
Kitchens are so important when dealing with flips, so we put a significant amount of capital into the kitchen to increase property value.
The End Result
End result was we sold the property for $781k, when our all-in cost including realtor fees was $675k. The end result was over $100k in profit split 50/50 with my partner.
- Purchase Price = $600,000
- Renovations + Holding Costs = $75,000
- Sold Price = $781,000
Gallery
After
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