We strive to provide all our clients with the best service during their real estate transaction. Because to us, it’s not just a transaction, it’s a life changing accomplishment. Whether it’s buying your first home to start a family, selling your home to downsize so you can travel more, or investing to grow your personal wealth, we make sure we are there every step of the way!

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Here are a few maintenance tips to make sure your home is ready for the fall season!🔸 Clean gutters &amp; inspect roof - you don't want any surprising leaks this winter🔸 Fix any cracks in the driveway - as you know, when water freezes it expands which can cause these cracks to get bigger🔸 Drain outdoor faucets &amp; put hose away - prevent pipes from freezing and bursting &amp; needing to purchase a new hose in the spring 🙃🔸 Check for drafts - weather stripping can help with any drafty doors🔸 Put outdoor furniture &amp; BBQ away - increase the longevity of your patio furniture &amp; don't forget to disconnect your propane tank and store safely🔸 Fertilize your lawn - apply 3 weeks before last mowing to ensure a green &amp; luscious lawn next year 😁🔸 Test winter equipment - don't wait until the ❄️ is here to find out the snowblower doesn't work🔸 Check filters &amp; test furnace - avoid hefty heating bills by making sure your furnace is over working due to a dirty filter🍁 Test your smoke detectors monthly! 🍁

Fall Home Maintenance Tips 🍂

I met Nick while I was on my own hunt for my first house. I didn’t have the intention to work with an agent. But Nick made it worth it all the way. He guided me step by step, advised me, never rushed or pushed on any house, always been there with a warm smile, responded any time, made it personal and took it an extra mile. If you are looking for an agent, Nick and BlackOak are more than that!

Tiffany was a fantastic realtor! She was honest and very efficient. Tiffany made sure to explain everything in detail before moving forward with anything. Tiffany was very easy to talk to and always made sure she kept in contact with me right away when something was happening. I would recommend Tiffany to anyone who is selling or buying their home if they are looking for a great realtor.

Tiffany did an outstanding job helping us sell our home! She provided her expertise in marketing our home and within a few days our house was sold! She was very organized and professional. Contact expectations was beyond outstanding. She was always available when we needed her assistance the most. Tiffany is great at what she does and I would definitely recommend her to anyone.

We explain each step below and how you can utilize this strategy with your next investment! <h2>BUY</h2>The key here is detailed market research! The experience and resources of Realtors and Mortgage Brokers with investment backgrounds is priceless and comes at no cost to you when you’re buying properties! The “Buy” actually starts with the “Sell”, don’t get confused… What are we talking about? Okay here it is, get familiar with the term ARV (After Repair Value). In order to execute the first step of the BRRRR, you must know what an identical property would sell for, in the same general neighbourhood, with the same rents and unit make-up, in today's market, after a complete renovation. Example, you find a rundown duplex in the Delta neighbourhood selling for $400K. In this neighbourhood, your research shows you that, duplex properties of the same size and general layout, are selling for $600K-$650K if they have been completely renovated. This is your ARV! You now know that there is a potential lift of $200K-$250K. This serves as an indicator that you’ve found a great potential opportunity here! Dig deeper! <h2>RENOVATE</h2>Here is where it’s vitally important to have an experienced team of contractors or an investment partner with experience in major renovation projects. So, let’s dig in! You’ve found a property that you can buy for $400K and potentially sell for $650K (ARV). You now know you have $250K to work with, however, we need to touch on the third “R” (refinance) quickly to get the real amount you’ll have to work with for your renovations. When you refinance, outside of more advanced level finance structures, typically the lender is only going to give you 80% of the ARV as a new mortgage (we’ll get into this later). So quick math here, 80% of $650K (ARV) = $520K. Subtract your original purchase price of $400K and you now have $120K, +/- some costs that we’re not including for simplicity, as a budget for your renovations. These renovations need to be strategic with the goal of achieving the highest ARV and attracting the highest possible rents from the best possible tenants. <blockquote>Want to know what renovations are attracting the highest rents and best tenants? Reach out to us at any time by phone/txt 905-512-5455 OR email investors@blackoakpropertygroup.com to dive into the details on how we plan for massive value in our renovations!</blockquote> <h2>RENT</h2>This may seem fairly straightforward, and it is, for the most part. Don’t panic, we have a whole topic on screening tenants coming in next months newsletter! For the purpose of explaining the BRRRR strategy, we’ll keep it simple. Considering you or your team, have done the research on market rents in your neighbourhood, if you now have the most incredible units available, with in-suite laundry and soft close kitchen cabinets, you should charge rent accordingly. Understand that the income your newly renovated property generates, not only helps you qualify for future properties but also has a direct impact on it’s value in the eyes of the appraisers. The higher the income, the higher the value, the more capital you’re able to extract when you execute the next, and very crucial, step in this strategy. <h2>REFINANCE</h2>This step is the hinge point of executing the BRRRR strategy successfully to refill your rocket fuel (cash) for the next property! Once your renovations are complete and your units are all rented for top dollar, the next step is to refinance the property to pull out your capital investment. Your capital investment would be the sum of your down payment, closing costs, holding cost &amp; renovation cost. This shouldn’t be a step that involves to many surprises if you and your team (i.e. Realtor, mortgage broker) have done the research involved in the “BUY”, strategically executed the “RENOVATE” and achieved your target “RENT” The idea here is to make sure that the rental income covers all expense plus the new higher mortgage amount. This is where the ARV comes into play, if your new appraised value comes in at $650K, then your new mortgage amount will be $520K as long as you can qualify, this should be discussed with your mortgage broker in the “BUY” as well! From this new mortgage, the lawyers will pay out your existing first mortgage, roughly $320K ($400K x 80%) leaving you with a check for $200K. This amount should match or exceed your initial investment amount and in this example it does! $80K for the original down payment, $120K for reno’s = $200K! Look at that 😉 If it does work out similarly for you, you’ve executed the most important step of the BRRRR strategy, give yourself some serious credit! <h2>REPEAT</h2>This step is determined by your goals, if you’re just interest in having a single property to hold as a nest egg for retirement, mark it down on the calendar, you did it! If you’re looking for more and you’d like to supplement your income to take your lifestyle to the next level, then don’t let your engines cool down! Go right back to the start and repeat the steps with your recycled capital!____________________________________________________________________Ready to learn more about how you can use the BRRRR strategy to accelerate your investments? Reach out to us at any time by phone/txt 905-512-5455 OR email investors@blackoakpropertygroup.com to dive into the details on how we plan for massive results! Or schedule an Investors Consultation!<a href="https://www.facebook.com/pg/blackoakrealty/services/?service_id=2327771130679253">https://www.facebook.com/pg/blackoakrealty/services/?service_id=2327771130679253</a>

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With today's home market changing at the speed of light, we aim to keep you ahead of the curve when it comes to all things real estate! Including what's happening right in your city, big developments, new restaurants, local events and even featured up and coming neighborhoods.  Doing a renovation? need a moving truck? mortgage broker perhaps? Check out our favourite vendors section where we highlight professionals who have made our personal home ownership experience a walk in the park, and find out how you can receive discounts for their services through BlackOak Realty Group!  What other benefits can we share monthly? You'll have to <a href="https://mailchi.mp/b15493ac46da/blackoakrealtygroupnewslettersignup">sign up</a> to find out!

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