This 1,000+ sq ft, brick detached home is centred in a hot-pocket of Etobicoke, on a residential street lined with $1.5M+ houses. This property is a short walk to the TTC Royal York Subway Station, Bloor St. conveniences, banks, parks, LCBO, and the iconic Kingsway Theatre. This 1.5-storey also has a full basement, separate entrance, and a 2-car, laneway garage, allowing for both a secondary suite and laneway suite opportunity! It is a landlord, flipper, and builder friendly property, creating many exit strategies for the Investor!! Did we also mention this wholesale opportunity comes loaded with a 85% VTB at 18 months interest free?! The investor will save potentially over $100,000 in financing costs as a result and still fetch this deal at a sizeable discount off the current retail value. Act fast!!
This property is at market value but comes with an incredible, interest-free VTB opportunity creating a large profit. Normally an Investor would have to move forward with a private lending option on a property like this, but with the VTB the Investor not only gets an interest free loan, but actually ends up saving money. If the Investor was to pay a private lender at a 2% lending fee with 10% per annum for the total 18-month term, they would pay an additional $20,400 in lender fees, and $153,000 in interest. The interest free VTB not only helps protect your downside if the property takes longer to renovate or sell, but also saves you $173,400 over the 18 months (plus appraisal & added fees). After subtracting the savings that the Investor would receive from the VTB, this property comes in at well below market value! The Investor could also choose the BRRRR method and do all renovations and then refinance at the end of the 18-month term. This interest-free VTB provides the Investor with savings that you could only dream of!
VTB Terms: 18 Month Term, First Position, 0% Interest Per Year @ 85% Loan-To-Value.
**Please note the VTB amount is $1,020,000. This would be approximately 83% of our asking price.**
We are selling our assignable purchase contract.
Closing is August 26th, 2021
