- Joined
- Oct 23, 2007
- Messages
- 241
OFFERING JOINT VENTURE PARTNER SUBTITUTIONMy good partner has taken a job in Singapore. And he would like to get out of his joint venture with me. This is your opportunity to have an active joint venture partner like me managing all the details on your behalf so you can have a passive investment in Orillia the # 2 town in Ontario to invest in. This property is a condominium town home right across the highway from the new university. I have an intimate knowledge of this property because I have owned and operated it since January 15, 2005. These properties have been going up an average of 13% per year. With the construction and the establishment of the new Lake University just over the highway from this complex, I anticipate this trend to continue. As well there is newly built condominium town homes coming on the market that are on the same street that will only enhance the value.
The Cash flow summary
Financial Breakdown
Sale Price $125000
Down Payment (25%)
$31250
First Mortgage (75%)
$93750
Pro-forma Income
Monthly
Market Rent $962
Vacancy (estimated @ 5%)
- $48.10
Income (1[sup]st[/sup] Year) $913.90
Expenses
->Property Taxes 2006 $105.50Condominium Fees $198Insurance $27Water Sewer charge $66.66
Repairs and Maintenance
(5 % Interiors) $48.10
Cash Flow Before Debt Payment
$468.64
First Mortgage Payment $605.40
(6.1% 1 year closed - 35 year amortization)
Cash Flow -$136.76
Mortgage Principal Reduction $67.28
NET RETURN -$69.48
And that`s not all You`ll be able to Take advantage of this opportunity to have your money work for you while I continue to work for my money. I already know this property & I am working a great system with a good tenant relationship. You`ll receive monthly financial reports on the performance of the property. Just think, you can invest in Orillia from virtually any where in the country and do extremely well with me!
[/size]
="font-family:Times New Roman">Jules Mckenzie
Ontario REIN Gold Member
Orillia, Ontario
(705) 330-1879
Email: [email protected]
The Cash flow summary
Financial Breakdown
Sale Price $125000
Down Payment (25%)
$31250
First Mortgage (75%)
$93750
Pro-forma Income
Monthly
Market Rent $962
Vacancy (estimated @ 5%)
- $48.10
Income (1[sup]st[/sup] Year) $913.90
Expenses
->Property Taxes 2006 $105.50Condominium Fees $198Insurance $27Water Sewer charge $66.66
Repairs and Maintenance
(5 % Interiors) $48.10
Cash Flow Before Debt Payment
$468.64
First Mortgage Payment $605.40
(6.1% 1 year closed - 35 year amortization)
Cash Flow -$136.76
Mortgage Principal Reduction $67.28
NET RETURN -$69.48
And that`s not all You`ll be able to Take advantage of this opportunity to have your money work for you while I continue to work for my money. I already know this property & I am working a great system with a good tenant relationship. You`ll receive monthly financial reports on the performance of the property. Just think, you can invest in Orillia from virtually any where in the country and do extremely well with me!
[/size]
="font-family:Times New Roman">Jules Mckenzie
Ontario REIN Gold Member
Orillia, Ontario
(705) 330-1879
Email: [email protected]