- Joined
- Oct 23, 2007
- Messages
- 241
I am still seeking a joint venture partner for this unique deal direct from David Black of Monopoly homes. There are only 3 brand new townhomes that are built for sale for $230000 each. The are located at 1030 Mississaga St. West Orillia.The builder is willing to finance them with a vendor take back mortgage of $220000 per unit at an interest rate of 4% for 3 years.
2 Town homes are currently getting income of $1500/month. I know that I can rent out these 10 for that amount.
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So on a monthly basis…
Income: $1500
Expenses:
-$100 Condo fee
-$200 Taxes
-$733.33 Mortgage
-$150 maintenance & vacancy
$316.67/month cash flow
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to:Arial-->All we would need to close on each unit would be approximately $16100 per unit or $48300! The R.O.I. is 23%!
I`ll rent them out and manage all the details.
Please give me a call to let me know if you`re interested.
2 Town homes are currently getting income of $1500/month. I know that I can rent out these 10 for that amount.
[/color]
So on a monthly basis…
Income: $1500
Expenses:
-$100 Condo fee
-$200 Taxes
-$733.33 Mortgage
-$150 maintenance & vacancy
$316.67/month cash flow
[/color]
to:Arial-->All we would need to close on each unit would be approximately $16100 per unit or $48300! The R.O.I. is 23%!
I`ll rent them out and manage all the details.
Please give me a call to let me know if you`re interested.