Church Conversion in Hamilton

When I heard about this project last year, I wanted to see it with my own eyes. For many years, I didn’t believe you could make money in Hamilton with real estate. The prices had gotten out of hand during the pandemic, and with Toronto folk selling their condos and buying up all the properties, being priced out of the market was a reality. Until I went to a local real estate, meet up and heard about a local developer buying a church for 1 million, putting around 3-4 million in renovations to convert it into 19 apartment buildings. When it was completed it appraised at 7.5 million. The developer was able to pay all his partners out with a nice profit. My jaw dropped when I heard this. I asked the realtor who sold him the property to take me through. Here is my TikTok tour of the property.