- Joined
- Aug 30, 2007
- Messages
- 96
Forest Lawn, a REIN preferred area of
potential!! Big commitment from the city for rehabbing
the area including building a new University campus!
100 Yards from 17-th (International) Avenue
R-2 lot with bungalow with up and down (legal,
non-conforming suite). 3 bedrooms + 1.5 washrooms
(rare!) up and 2 bedrooms + 1 washroom down. Single
insulated garage. Rented to wonderful tenants for
$2,150 / month.
Mortgage is $1,560 / month.
Taxes + insurance – just under $150 / month.
Cash flow = $450 / month.
House is already bought and the cash machine is
clicking – chi-cheng, chi-cheng.
Come joint venture - requirement is $70,000 for 50%
ownership for this house, no need to qualify for
mortgage. After 5 year hold period, based on
conservative 5% appreciation, you’ll get 120-125%
profit, but since it’s in a prime turnaround
community, expected returns are double that or more.
Can’t get more attractive than that – all the work
done, price negotiated, house is bought and rented –
100% armchair investment!
Cash or RRSP eligible!!
Contact: Mat Wasserman [email protected]
(This post is not from REIN member & Realtor Bryon Howard ... but from client, friend, and investor - Mat Wasserman).
potential!! Big commitment from the city for rehabbing
the area including building a new University campus!
100 Yards from 17-th (International) Avenue
R-2 lot with bungalow with up and down (legal,
non-conforming suite). 3 bedrooms + 1.5 washrooms
(rare!) up and 2 bedrooms + 1 washroom down. Single
insulated garage. Rented to wonderful tenants for
$2,150 / month.
Mortgage is $1,560 / month.
Taxes + insurance – just under $150 / month.
Cash flow = $450 / month.
House is already bought and the cash machine is
clicking – chi-cheng, chi-cheng.
Come joint venture - requirement is $70,000 for 50%
ownership for this house, no need to qualify for
mortgage. After 5 year hold period, based on
conservative 5% appreciation, you’ll get 120-125%
profit, but since it’s in a prime turnaround
community, expected returns are double that or more.
Can’t get more attractive than that – all the work
done, price negotiated, house is bought and rented –
100% armchair investment!
Cash or RRSP eligible!!
Contact: Mat Wasserman [email protected]
(This post is not from REIN member & Realtor Bryon Howard ... but from client, friend, and investor - Mat Wasserman).