Cashflow is Good in Winnipeg

3br and 1 bath
purchased for $80 600
25% down
prime minus 0.5 variable
bank appraised at $113 000 before any renos
fixed damp basement, eavestroughing, new chainlink fence, kitchen counter tops, central air about $5000 total
approx $1000 per year taxes
lease signed for $985 a month plus all utilities

Nik

Just wondering which area you found this property in and How you located it? I`m a junior investor in Winnipeg and am constantly looking for houses like the one you found. Thanks

I used to invest in Winnipeg. There really are some great cash flow opportunities there. Remember the land transfer fines, and the Rentalsman. If it still works it could be a good deal.

QUOTE (dustin22 @ Sep 14 2010, 03:16 PM)
Just wondering which area you found this property in and How you located it? I`m a junior investor in Winnipeg and am constantly looking for houses like the one you found. Thanks Cashflow can be good in a number of areas. EK, Weston, West End, or the North End. I`ve been wary of the North End but fellow investors say that there are good pockets there too. If you want long term appreciation over cashflow then you can look at Fort Rouge, Crescentwood, St. James, NK, Fort Richmond etc. Nik

QUOTE (2ndstory @ Sep 10 2010, 12:35 PM) 3br and 1 bath
purchased for $80 600
25% down
prime minus 0.5 variable
bank appraised at $113 000 before any renos
fixed damp basement, eavestroughing, new chainlink fence, kitchen counter tops, central air about $5000 total
approx $1000 per year taxes
lease signed for $985 a month plus all utilities

Nik

Hi,

for your mortgage to maximize cash flow: Prime -.75 interest only. $60,000 mortgage = $60,000 x 2.25% / 12 months = $125/month. Video of me explaining it:

http://realtorassist.ca/vid/lowest-mortgage-payment-canada/

I`ve worked on 17 properties in Winnipeg North End since late 2008.

Hope this helps

Robert Klein
Mortgage Broker, Real Estate Investor,
Co-Founder of RealtorAssist.ca
A: 2465 Bellevue Avenue
West Vancouver, BC, V7V 1E1
C: 778.896.6732 | F:604.648.9701
Email: [email protected]
Last Blog Post: http://realtorassist.ca/blog/what-lowest-m...ment-available/