- Joined
- Jan 19, 2017
- Messages
- 19
I have an offer on a 1042 sq ft bungalow is Fort Saskatchewan at $315,000. 1st mortgage of $252,000 with JV putting in $75,000 for DP and some of the reno cost . My invest is $37,900, will develop a two bedroom basement suite. Older house but sound. Estimate rental for main at $1195 and Suite @ $995 plus the heated two car garage at $150 month. With that I show positive cash flow of $92.88 month plus Appre. and Principle reduction for year one profit of $12805. Does this all sound feasible to anyone.
Would I be better off having JV put up more of the cost say $100,000
Would I be better off having JV put up more of the cost say $100,000