Final Duplex Conversion Before & After | Property Walk-Through | Ontario | PART 3

[@MeaintheD]

Ontario real estate market is crazy! Viewing from Michigan

[@Sway28]

Congratulations Andy! Beautiful duplex...its done so nicely and I know you always go with high quality standards. thanks for sharing.

[@suiteadditions]

Thanks Sway!!

[@MrWSauble]

Great job Andy! Thank you for sharing your projects -- helped to inspire us to do the same!

[@suiteadditions]

My pleasure!

[@jessicanecor]

amazing transformation!! your channel has been great inspiration for our own SFH to duplex conversion :)

[@suiteadditions]

Thank you kindly!

[@realtalk8730]

Thanks so much for the video. Your duplex looks great. Everything!!!! You are my great inspiration 😊

[@CatrinaLee-v8l]

Fantastic job Andy! Thank you so much for sharing. I learned so much from every video that you shared!

[@suiteadditions]

@user-wz7zl6fb6d Thanks Catrina....glad to be of value

[@tonyestrada4037]

very good job Andy., well worth it.

[@rajeevshan1392]

This is an amazing transformation with a well laid out floor plan maximizing the space.

[@suiteadditions]

Thank you Rajeev!

[@myrnav3294]

Great job on this house btw. What a transformation!

[@suiteadditions]

Thank you Myrna!

[@samanthacarell]

Great job👍👍👍👍

[@doug1354]

excellent project and excellent content Andy....as always. Appreciate your work and your sharing.

[@suiteadditions]

Thank You Doug!

[@tincancottage]

We have been using LED pot lights for our basements conversions and it really makes things much brighter

[@BodenZvonarich]

How are you fireproofing with the pot lights in the basement ceiling?

[@themortgagebuilder]

There is a double layer of fire rated drywall to create the sound deadening and fire separation.

[@oddlyoaktree]

It's great to see increased density in our cities like this... but oof... Millennial Grey floors are the the shag carpets of the 2010s! 😬

[@alllivesdomatter2298]

Looks great👍🏾☝🏾💯

[@ItsZarif]

Hey Andy, great job on the renovation. A few questions I had since I am also doing a secondary unit in our basement at the moment. Going through all the code and legal stuff now. I was wondering: 1. Why did you need to add 2 water heaters? I know it's not a requirement by code, did you feel a specific reason to? 2. How do tenants manage water shut off? Do the upper unit have their own water shut off or do both units have shut offs in maintenance room? I am asking this because our inspector told us that in order for the maintenance room to not be a "common room" the water shut off would need to be separated so each unit could access it. (Which was confusing because the rest of the room like furnace etc would still require upstairs to come down if any issue happened so why only water lol). But i see in your unit both are in the same furnace room downstairs, how does that work?

[@suiteadditions]

Thanks for the kind words Zarif. 1. 2 water heaters needed since we have 2 meters 2. Only accessible in one unit. Typically does not need to be accessed unless servicing is required. There are also individual shutoff valves at each fixture.

[@sendingittome]

how come you didn't go with the adu in the back? how much more would it have cost you?

[@philipihez794]

Great job Andy, and thank you for sharing. I am getting ready for a duplex conversion project this summer and still trying to score on a suitable property. I was wondering how the decision was made for the location of the electrical panel upstairs. Is that up to the Electrician to decide where to place it? Could I decide to put it in a coat closet instead of a bedroom like in the video?

[@suiteadditions]

The electrician will advise on location. Can be anywhere except in bath and behind kitchen cabinets. You need 3 feet clearance in front so unlikely ok in closet.

[@Flipflopfinance]

Awesome video as always - didn't even know you could separate water meters. Will do that on the next conversion. I'm assuming the furnace is gas? If so, are you putting the enbridge gas bill in your name & collecting the cost from the tenants on a monthly basis or including it into the rent?

[@suiteadditions]

Correct - water and hydro directly in the tenant's name and gas we pay and bill back to them 60/40

[@Flipflopfinance]

@@suiteadditions Awesome - thank you Andy! Great work as always. You are a pioneer. Can't wait to see the ADU built.

[@charleskoerkel4312]

Does the basement apartment really only have 1 way in, one way out??

[@suiteadditions]

There's also an emergency egress window, as required by code

[@myrnav3294]

That's some serious cash flow. Question: why didn't you go with tankless water this time around?

[@suiteadditions]

Tank was cheaper

[@emmmarasovic4377]

Which electric meter runs the furnace fan? Does it cause problems between tenants.

[@suiteadditions]

The upper is running furnace fan. Usually not an issue.

[@MandyMcAvoy-z5f]

How does each unit control the heating if there is only one furnace?

[@suiteadditions]

Ecobee or Nest

[@NeilHadynNicholson]

Great job, but where are the closets.

[@suiteadditions]

Wardrobes were added

[@gabriellobo8397]

Great Job Andy. Do you take work/ Contracts - East side - Trenton/Belleville area ?

[@suiteadditions]

Thx Gabriel. Not contracting, but we do designs. We might have someone that can assist you in Belleville.

[@ibmasterblaster]

@@suiteadditions I'd be interested in that as well

[@ibmasterblaster]

Are you investing in this area? We're tenanting our first property there this weekend, looking to meet up with other investors in the area

[@ryanc.3005]

did you lower the vents at floor level in the basement?

[@suiteadditions]

Most are on the ceiling

[@ryanc.3005]

alright, in London they want it to be on floor level base on the new OBC.

[@myrnav3294]

Since the gas is for both units, are you splitting 60/40? If I purchase a home and the lower unit is already finished (drywalled), does it need to be re-done for fire separation?

[@suiteadditions]

Yes 60/40 for gas ..and if already finished, it will depend on work needed

[@philipihez794]

@@suiteadditions Great job Andy. Would the gas account be on the Landlord’s name?

[@vick4742]

What would the ARV value be for such a project ball park?

[@suiteadditions]

This one is about 850k now.

[@rigosuave]

How can I speak to a real agent ?

[@ChuckyW666]

What would the a job like this cost???

[@suiteadditions]

Around 200k for this one

[@kevivdude08]

$200k seems to be a lot for the renos. The market value of that house better be atleast $800k with all the work that was put in. But if it was refinanced the rents dont make much sense.

[@immovablepotts]

I dislike companies like this bid up houses stealing small family houses then they rent them at a price that gouges the new tenant at unreasonable prices. This hurts the future of all who one day want to own something for themselves.

[@suiteadditions]

Thanks for your comment. It's totally understandable. However we are turning a housing unit into 2 units, so we're adding more housing. There are many people who need a rental unit. For eg. For the first 5 years when my family immigrated to Canada, we were renters and needed this type of housing. The bigger problem for higher prices is serious supply constraints and loose monetary and fiscal policy form the government devaluing our currency.

[@immovablepotts]

@@suiteadditions I will give you the reason of a doubt that this meets the needs of lower income people. However that price doesn't aim at the market you are talking about. If you take into count the average wage of people in Ontario. The intentions might be good but companies that buy these houses are the problem of this generation. I'm one person this video triggered me in my current situation. There might be other views. I'm sure you are trying hard to be a amazing landlord company compared to alot of other ones.

[@Yoopsen213]

6:43 No offence but yikes! It’s giving dingy depressing/80s serial killer vibes. This reno saved the soul of this house frrr

[@suiteadditions]

Thank you. Yes it was a scary house at the beginning, which is where the opportunity lies!

[@mt-nv4jd]

What are my thoughts? There is no way I am dropping over $600k into a SFH for a rental. But good luck, I hope it works for you.

[@suiteadditions]

Working amazingly....cash flowing with great tenants

[@nataliab2312]

@@suiteadditions Andy, with a $48k gross rental revenue, it's $40k-ish net after property taxes and insurance. In other words, considering the whole amount you invested in this project, it's less than a 6% cap rate. And then you have to serve your mortgage, right? So, if one day tenants stop paying which is usual in Ontario, you are f**ed, pardon my French.

[@maryyoungleckie3615]

this reno looks cheap and the space not well used