Investors Wanted - Huge Cash Flow Student Rental

Sarah10309

New Forum Member
REIN Member
Nov 16, 2016
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#1
Property Summary

Located in Brantford, ON
Within walking distance to campus
A full block of two semi-detached units on a double lot (can be severed!)
5 beds per semi

Acquired price: $299,000
ARV: $499,000

Monthly cash flow: $2500~

Looking for:

-Private mortgage holders at 8-12% interest-only for 4-6 month term
-Hard money lenders
-Mortgage holder as JV at 50% cash flow and equity

This is a block of two semi-detached units on a double lot. The state of the property is in need of major repair, but this was reflected in our negotiated purchase price. Our plan for this property is to use it as student housing, which is typical for the area. We have this under contract at a purchase price of $299 000. The analysis shows a conservative after repair value of $499 000 with cash flow of $2500/month and 35% ROI! (Please message for official pro forma).

If this is something that is of interest to you, please reach out to us as soon as possible as this JV opportunity will not last long.

There are two different sets of opportunities available for this property.
  1. Capital Investments- Due to the severe state of repair of the property, the initial purchase price of $299 000 will need to be done with cash/private funds and not a conventional mortgage. We are also looking to raise funds for the construction costs for repairs. We will pay between 8%-12% for a 4-6 month term.
  2. Mortgage Qualifier- We are looking for a JV investor to hold the mortgage on this property who can qualify for $500 000+. The mortgage qualifier builds their portfolio with this turn key property with cash flow of $2500/month. If you are able to qualify at this amount, but do not have the down payment, please reach out to us because that is not a limitation.