Many will tell you that the golden age for investing in real estate has long passed. Indeed, with stagnant property prices and the arrival of big players in the residential construction industry in Montreal, particularly in the construction of condos, this seems to be wasted effort for the small investor. But is this really the case? In reality, many small investors succeed in profiting from the real estate market. Their secret? Renovations. By taking care to search for a property with potential, by renting a container of construction waste and by renovating the property, it is possible to work small miracles.

Find the right property

The real estate investor is a bargain hunter. He must know the market and find a property that is sold at a low cost due to its lack of maintenance. Properties that fall into this category are those located near major centers. Several properties located in modest neighborhoods are close to public transportation and all amenities. Once renovated, they can be very interesting for young professionals looking for something more spacious than a small condo. Additionally, older properties, those built at the turn of the century through the 1970s, generally have larger lots than those built during the 1980s, 1990s and 2000s.

If you are not familiar with the real estate market, you can first consult the list of all properties for sale in Quebec by consulting Centris And DuProprio. To help you, you can call on a real estate agent. Once the rare gem is found, the work begins!

Renovate and beautify

For a property that has been neglected by its owners, the work can be colossal. As a building contractor, you must first extract the potential of the property. This type of renovation generates a lot of construction waste. The walls of small bungalows can be demolished to create an open-plan main room. This way, it will have a loft feel. It is also possible to use part of the attic to install bedrooms upstairs and open the rest onto the ground floor to create a cathedral ceiling. The basement is often used as a family room: make sure the main room is the right size for adding a home theater. If there is room, add a second bathroom, bedroom and office to maximize the home's potential.

To get rid of construction waste, the Recybac container is the tool you need. The professional Recybac team will bring your container at the agreed time and will take care of sorting the construction waste itself at the ecocenters.

Sell your property

Once the renovations have been completed, you can, if necessary, call on a real estate appraiser to find out the new value of your house. This will give you better negotiating power. To put your property up for sale, you can use an agent. If you are confident, you can sell it yourself and save the agent's commission.

If you want to embark on the adventure of real estate entrepreneurship, don't forget to manage construction waste with Recybac!