Affordable Multi-unit Renovation Program For Real Estate Investors
Learn How to Leverage Our Specialized Multi-unit Construction Offering to Renovate or Develop Your Property At Cost
Learn how we are planning to shake up the Toronto construction industry by offering our services at cost to make multi-unit renovations more affordable for home owners and real estate investors in Toronto.
How is this possible you ask? Read on to find out!
At Cost Multi-unit Renovations for Home Owners and Real Estate Investors
The premise of this offering is to give real estate investors and everyday homeowners the ability to capitalize on the city-wide zoning change to allow for multi-unit development in all residential zones across Toronto. We are planning on offering our services for developing properties at-cost in exchange for either equity in the rent-producing portion of your property or by use of an installment loan for the services rendered (i.e. project management) once the project is completed and the property is income-producing.
What projects will be considered for this offering?
We are initially looking to implement this offering for garden suites and single family to duplex or triplex conversion projects for existing homes (no additions/new homes). These are the lowest cost projects that we will be able to turnover at a faster rate and will allow us to get the project income-producing sooner (and thus make back our investment into the project through monthly payments).
What is an example of this offering?
Let’s say that the cost of building a prefabricated garden suite is $115 000 + HST for a studio unit (~320 square feet), but the management fee we normally charge for the project is $25 000 + HST. We would allow our client to defer the $25 000 + HST payment to the end of the project then turn it into an installment loan once the project is completed with a previously-agreed amortization (5 years) and interest rate. The great thing about this is the rental income generated from the new garden suite will easily cover the installment loan payments PLUS give you additional income that will grow over that period of time.
Remember that “At-cost” doesn’t mean cheap
When we price out renovation projects we are never going to be the least expensive option, and that will probably still be the same case when we offer this program at cost. You will always be able to get a better quote in the renovation industry but just remember that they usually aren’t accounting for all of the work needed to get the job done.
We always price out our projects by getting actual quotes from all of our vendors and subcontractors so that what you see is what you get before you sign any contracts. Even though the renovation contract is meant to be at-cost doesn’t mean that we aren’t going to put in the work to get all of the pricing finalized before the project starts. We do that for all of our projects and that will not change for this offering!
About BVM COntracting
BVM Contracting is a full-service General Contractor or Home Builder located in Toronto. We provide home renovation and building services for major home renovations and custom home builds (kitchen renovations, bathroom renovations, basement renovations, full interior renovations, home additions, lot severances, and new home construction). Our goal is to help guide our clients through the process of renovating their home, from concept to completion.
Further than providing General Contracting and Project Management for major home renovations, we also offer value-added services such as renovation financing, residential mortgage solutions, renovation rebate consultations and services, building permit and design services, smart home installation services, and real estate investor services.
To learn more about our offering by visiting our services page.