Become an REI Hot Seat Insider: ⁠https://submit.jotform.com/info_Admin_info831/rei-hotseat-insider-sign-up-formIn episode E135 of the REI Hot Seat, Andrew Hines and Brad McCrae break down a unique investment opportunity in Hamilton—a historic heritage property that once belonged to a former mayor.The building features standout architecture, tall ceilings, and spacious units, offering immediate cash flow and multiple value-add strategies. With five current units (including one in the basement), the property presents several avenues for increasing density: adding a studio unit in the basement, legalizing the current non-conforming unit, building into the large attic, or potentially adding a unit off the back of the structure. The property boasts strong fundamentals, including large square footage per unit, a substantial parking lot, and tenant appeal thanks to the character and quality of the finishes. Brad explains how the deal could work well for a house hacker, given the potential to live affordably on-site with as little as 10% down. Financing strategies, CMHC considerations, and potential cash flow scenarios are also discussed. With its charm, upside, and flexibility, this property stands out as a rare and adaptable investment opportunity.Don't forget to join the Insiders list for access to off-market deals and other unique opportunities.Andrew's linktree : https://linktr.ee/theandrewhinesREI Hot Seat Instagram: https://www.instagram.com/reihotseat/Jacob Campagnaro Instagram: https://www.instagram.com/jacob_campagnaro/David Hulshof Instagram: https://www.instagram.com/davehulshof.realestate/E135 CMHC Trick Most Investors Miss00:38 – Why This Property Stands Out01:15 – Cash Flow from Day One + Future Upside04:54 – Basement Height Surprise and Conversion Ideas06:33 – Legalization Potential for Basement Unit10:09 – Financing Strategy and CMHC Considerations11:22 – House Hacking Option with 10% Down12:35 – Cash Flow Projections and Down Payment16:17 – Potential for Backyard Unit AdditionDisclaimer: This episode, as with every episode of this show, should NOT be considered as advice. Investment advice is NEVER given on this show. Always consult a competent investment advisor before making an investment decision.---Andrew Hines is a seasoned real estate investor, business-builder, educator, and podcast host, well-recognized for his extensive experience in the field. Andrew graduated with an HBA from the Richard Ivey School of Business in 2008 and spent three years teaching introductory business at Western University as a Lecturer. He has been investing in real estate since 2011 and completing value-add projects since 2015, primarily in the luxury student rental space. Andrew started a project management company for building out new-construction townhomes in 2016 and has since built over 50 residential units throughout Southwestern Ontario. Andrew is an advocate for treating real estate investing like a business and uses his experience in his educational endeavors, coaching numerous investors on strategies to achieve financial independence and scale their portfolios effectively.His podcast, "The Andrew Hines Real Estate Investing Podcast," serves as a platform for sharing insights, strategies, and success stories, connecting a community of like-minded individuals passionate about real estate investing. With a background that blends practical investing experience and investor-focused work, Andrew has become a pivotal figure in the Canadian real estate investing community.