Beam Property Partners INC
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Portfolio
Crystal Beach
Purchase Date: May 2019
Property Type: Triplex
Purchase Price: $392,000
Renovations: $110,000
Market Value 2022: $750,000
Original money left in the deal: $0
We purchased this property as a fixer upper. It wasn't rented at the time and was in a major state of disrepair. After updating it extensively, we were able to find great quality tenants that provide excellent monthly cash flow and a high rate of return on our investment.
Fort Erie - Sold
Purchase Date: October 2017
Property Type: Triplex
Purchase Price: $235,000
Renovations/value added: $10,000
Sold Price: $490,000
We purchased this property fully rented and completed renovations that added value over the years such as a new driveway, bathroom, furnaces and spray foam insulation. After some fixing up, we were able to find good quality tenants that provide excellent monthly cash flow and a high rate of return on our investment.
Sold in 2021 for an average yearly ROI of 147%!
St. Catharines
Purchase Date: Spring 2015
Property Type: Single family home
Purchase Price: $230,000
Renovations/value added: $20,000
Market value 2022: $650,000
Original money left in the deal: $0
We purchased this property as a primary residence at first and when we moved several years later kept it as a rental. We completed updates to the flooring, appliances, roof and bathroom of the home. When we moved, we were able to find great quality tenants that provide excellent monthly cash flow and a high rate of return on our investment.
Niagara Falls
Purchase Date: October 2021
Property Type: 4 plex
There are some challenges with this property that are slowly getting resolved. 3 of the units are completely renovated and we are in the process of finding quality tenants. The fourth unit is in need of renovation and we hope to start that by spring 2022. After completion, we are hoping to refinance this and pull out our renovation expenses and a portion of our down payment. We are excited for this one. Stay tuned!
Crystal Beach
Purchase Date: November 2021
Property Type: Single Family with ADU
Purchase Price: $580,000
Renovations/value added: $25,000
This is a high quality property that we were able to get off market. It was being used as a single family home, however there is space for an ADU with a separate entrance. It took very minimal renovations to get this one up to code and rented out.
Port Colborne
Purchase Date: March 2022
Property Type: Commercial to residential conversion. Addition of potentially 3 extra units
Purchase Price: $565,000
This is a high quality property that we were able to get creative with. We are in the permitting stage of this project, which will allow the creation of potentially 4 units in this building. It was being used prior as a mixed use building and we are hoping to create more residential units to meet the demand on the market. There is a lot involved with a project of this size, stay tuned for more updates! It's going to be quite the ride.