# What do you think of this house?



## chaudi (Sep 10, 2009)

http://www.realtor.ca/propertyDetails.aspx?propertyId=10389675&PidKey=-895584004

Lot of people say the RE market will decline in the next few years. Would this be a safe investment? considering i would fix it up my self. I think Oshawa is in a good position to grow.


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## iherald (Apr 18, 2009)

chaudi said:


> http://www.realtor.ca/propertyDetails.aspx?propertyId=10389675&PidKey=-895584004
> 
> Lot of people say the RE market will decline in the next few years. Would this be a safe investment? considering i would fix it up my self. I think Oshawa is in a good position to grow.


This made me laugh: "No Hassle With Tearing Everything Down, Just Put In New." But it's a semi-detached house. Meaning, it's a huge hassle to tear it down.


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## Berubeland (Sep 6, 2009)

Note to Oshawa Investors : Anything south of 401 is considered "bad area" ask anyone from Oshawa if they'd live in South Oshawa and see what they say. 

8 of 10 applicants in that area are single moms on assistance. If there's a shooting its usually in South Oshawa. 

If you move your map a little bit and follow Cedar Street on the listing, you'll see Porter Street. I used to manage the 24 townhouse complex, right on the corner of Cedar & Porter. 

Investing in South Oshawa is not recommended to any but the most highly advanced, individuals houses are hard to sell.


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## chaudi (Sep 10, 2009)

well i was reading about a newly renovated semi in Cabbage town that just sold for 850K. Now that is bad area to live that i don't even want to drive through. How can little Oshawa for 100k be so bad? besides it close to the beach and some huge parks and only 45 min to TO. Seems like the new 'beaches' to me. Mind you i've haven't been to Oshawa in years but i hear i was vote a good city for livability.


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## Four Pillars (Apr 5, 2009)

iherald said:


> ...
> But it's a semi-detached house. Meaning, it's a huge hassle to tear it down.


I've often wondered about that. Is it remotely feasible or even possible to tear down a semi-detached house? I've seen this done with commercial buildings in downtown Toronto.

I would think the liability issues would be huge, unless you owned the other half as well.


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## kubatron (Jan 17, 2011)

Only a fool would compare cabbagetown to oshawa. Only, a fool.


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## NotMe (Jan 10, 2011)

kubatron said:


> Only a fool would compare cabbagetown to oshawa. Only, a fool.


That's a bit harsh but +1 for the sentiment, especially if you're going to compare cabbagetown to SOUTH oshawa. Both have hookers, but there's Julia Roberts cabbagetown type hookers and then there's the dirty shwaaa hookers..... ( I exaggerate for illustrative purposes).

I had to have a little chat with my 15 year old niece who lives in north Oshawa, when she was nervous being on the subway (bay/bloor) at Friday at 10pm. I said, what are you worried about, you live in Oshawa! I won't step foot in HALF that city! Say what you want about Toronto, there's no HALF of it I won't go to! Just certain streets/areas.


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## Four Pillars (Apr 5, 2009)

chaudi said:


> well i was reading about a newly renovated semi in Cabbage town that just sold for 850K. Now that is bad area to live that i don't even want to drive through. How can little Oshawa for 100k be so bad? besides it close to the beach and some huge parks and only 45 min to TO. Seems like the new 'beaches' to me. Mind you i've haven't been to Oshawa in years but i hear i was vote a good city for livability.


If you are right and the market is wrong - you can make a lot of money.


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## Berubeland (Sep 6, 2009)

Chaudi, 

You asked what I thought about that particular house. I told you. Ask someone in Oshawa what South Oshawa is like. 

I like Oshawa as an investment town and I would buy in South Oshawa if there was a good buying opportunity. This is not a good buying opportunity, this is a guy looking for a sucker. 

As we speak there are 13 3 bedroom properties in Oshawa under $125K One of them is detached even if you want to do some work. 

http://www.realtor.ca/propertyDetails.aspx?propertyId=10381542&PidKey=-924117321

Do what you want, but my professional advice is to stay away from South Oshawa unless you know exactly what you are doing. If you are asking us what we think, you don't know enough about the area to invest there. It's hardcore. 

Think Jane & Finch kind of area. There are tons of nice houses right around Jane Street on side streets. You can live there and it's not too bad, but renting there is a nightmare. Just like South Oshawa.


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## marina628 (Dec 14, 2010)

We have investments in North Oshawa and live in Courtice.If you showed me a $350,000+ bungalow in South Oshawa I would say there are some nice pockets still there where owners take pride in their homes and generally not attracting bad crown.This particular home I agree with Rachelle ,also by time you do reno and get proper inspections you may as well look at a $150,000+ home .That home will not make you any money in long or short term.


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## kubatron (Jan 17, 2011)

@NotMe

Perhaps a bit harsh but the comparison of the shwa to cabbagetown warranted that reaction.

I mean, come _on._


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## marina628 (Dec 14, 2010)

chaudi said:


> http://www.realtor.ca/propertyDetails.aspx?propertyId=10389675&PidKey=-895584004
> 
> Lot of people say the RE market will decline in the next few years. Would this be a safe investment? considering i would fix it up my self. I think Oshawa is in a good position to grow.


Real Estate Investment 101 -pick LOCATION first house second This property has neither and would not recommend it as your first try at the real estate ladder.If you want to use your skills to build equity buy a ugly 1970s house in good area that you can redecorate , pull up that shag carpet and put some nice floors in ,update kitchens and baths.Don't look at anything under $150,000 in Oshawa they all have crack houses next door lol.I have a friend who bought in Bond condos downtown years ago and cant give his unit away because know fact the drug dealers took the place over.


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## petea4 (Dec 24, 2010)

What would be a good investment/deal in Oshawa? Would Whitby be a better place to put your money?


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## marina628 (Dec 14, 2010)

petea4 said:


> What would be a good investment/deal in Oshawa? Would Whitby be a better place to put your money?


That's a loaded question as I do not know you or your circumstances.Buying rental properties is not for everyone.I have a really great agent and last month she found me 4 good deals but I could only buy 1.Highly recommend you work with an agent , if you don't have one I am happy to tell you who we use in PM.


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## Jungle (Feb 17, 2010)

There is a lot of Oshawa bashing on here, but not everywhere in South Oshawa is filled with losers on welfare. There are ok pockets with good people that have very good jobs (not GM) and familes.


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## NotMe (Jan 10, 2011)

@ Jungle - this isn't about Oshawa bashing, this is an investment evaluation. Lots of good people at Jane/Finch too, doesn't make buying a house there a good idea.


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## Jungle (Feb 17, 2010)

NotMe said:


> @ Jungle - this isn't about Oshawa bashing, this is an investment evaluation. Lots of good people at Jane/Finch too, doesn't make buying a house there a good idea.


 

Part of the evaluation, as pointed out by Berubeland, is the concern of some poverty housing and poor neighborhoods. Your tenants and property price in this demographic will affect your investment experience. 

With that said, I'm just saying do not paint the entire picture with one brush.

Three people I know from that area all make more money than I do and have raised families. They do not work for GM. I was surprised too. Not everything is ghetto. (but not denying there is)


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## marina628 (Dec 14, 2010)

I think the reference was South Oshawa not Oshawa as a whole.Even in South Oshawa there are some nice homes but we never hear about these .Known fact lots of drug activity and prostitution in Some areas of South Oshawa.Unless you got the cash to buy up most of the street I would not touch that area.


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## Berubeland (Sep 6, 2009)

There is a difference between a good living area for a homeowner and a good rental area. 

Take for example my area in Scarborough, just south of me is Guildwood Village and the Bluffs. These are really nice neighborhoods, but it's very difficult to find good tenants because the perception is that Scarborough is a bad area to rent in and a great number of people won't even consider it. 

It's the same with South Oshawa.


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## Jungle (Feb 17, 2010)

What do you think of Rouge Hill? Port Union and Lawrence.


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## Berubeland (Sep 6, 2009)

Jungle, 

I can rent a space to a good tenant just about anywhere. I've been leasing space full time for about 14 years, many tenants a month, year over year. 

Some areas are very challenging, I just rented a condo at Keele & 401. Also a hard area. Lots of bad tenants available there. 

I am able to pick in the worst tenant pool and find people who will pay the rent even though they are rough or have social problems. 

The Rouge area is right next to Morningside and Lawrence area you keep bashing as a place you won't walk at night, even though I think that area is gentrifying and going to increase in value. 

Do you think that area is easy for rentals? No way. Can it be done? Yes


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## Jungle (Feb 17, 2010)

By all means, Centenary Scarborough is visibly different (and far less pleasant) than Rough Hill.


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## marina628 (Dec 14, 2010)

I like Durham region for Investing , you can find plenty of homes for $250,000 in excellent areas that achieve high rent values.As an investor you need 20% down anyway so a $200,000 mortgage and taxes means the $1400 a month rent covers all the bills.This is the highest prices we have every paid ,we have a house we paid $170,000 for that we also rent for $1300 a month.


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