WadeFenner
Inspired Forum Member
- Joined
- Nov 7, 2007
- Messages
- 148
Are You Looking To Get Into The Edmonton Market "In a Big Way"?
Diamond member is looking for a silent partner for a 19 house package.
PLEASE NOTE: I will consider doing a joint venture with less than the full package. Must be funded prior to May 1st. and agreements will be signed on a first come first served basis.
This Is What The Basic Deal Looks Like:
Total Value of the package is approximately $5,750,000.
Investment Capitol required is 25% of the total value (approximately $1,450,000.)
Plus a contingency fund of approximately $150,000.
For a total cash input of $1,600,000.
This contingency will cover minor repairs required for the duration of the agreement, legal fees for setting up the JV, etc. All of these properties have had extensive renovations completed in the last 3-4 years.
Financing will be arranged at today`s variable rate of approximately 4.75%, with a 40 year amortization, and a term of no more than five years.
Refinancing may occur when possible in order for the JV partner to be cashed out of the deal. Refinancing and reinvesting is also an option.
oman-->The duration of the JV agreement to follow the general advice of REIN, which has a recommended selling point of approximately 2015-16, this may be negotiable.These properties are currently tenant occupied, and professionally managed, so there will not be a "normalizing" period to suffer through. Most of these properties fit the bank required 1.1 rule.
If you have any questions please contact me at [email protected]
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On a personal note:
My name is Wade Fenner I`m 42 years old. I have been an active REIN member since November 1995 and am still a paying member in good standing. I have been a full time investor since the summer of 1997 and have transacted over 110 separate purchases.
I currently reside in the city of Edmonton and I still buy real estate according to REIN philosophies.
You may contact me at [email protected]
Thank-you for your interest,
o:3-->Wade Fenner
PS I will enter into a joint venture situation with less than the full package. So if you`re interested in partnering up on only a few properties I will consider it.
Diamond member is looking for a silent partner for a 19 house package.
PLEASE NOTE: I will consider doing a joint venture with less than the full package. Must be funded prior to May 1st. and agreements will be signed on a first come first served basis.
This Is What The Basic Deal Looks Like:
Total Value of the package is approximately $5,750,000.
Investment Capitol required is 25% of the total value (approximately $1,450,000.)
Plus a contingency fund of approximately $150,000.
For a total cash input of $1,600,000.
This contingency will cover minor repairs required for the duration of the agreement, legal fees for setting up the JV, etc. All of these properties have had extensive renovations completed in the last 3-4 years.
Financing will be arranged at today`s variable rate of approximately 4.75%, with a 40 year amortization, and a term of no more than five years.
Refinancing may occur when possible in order for the JV partner to be cashed out of the deal. Refinancing and reinvesting is also an option.
oman-->The duration of the JV agreement to follow the general advice of REIN, which has a recommended selling point of approximately 2015-16, this may be negotiable.These properties are currently tenant occupied, and professionally managed, so there will not be a "normalizing" period to suffer through. Most of these properties fit the bank required 1.1 rule.
If you have any questions please contact me at [email protected]
[/size]________________________________________________________________________
On a personal note:
My name is Wade Fenner I`m 42 years old. I have been an active REIN member since November 1995 and am still a paying member in good standing. I have been a full time investor since the summer of 1997 and have transacted over 110 separate purchases.
I currently reside in the city of Edmonton and I still buy real estate according to REIN philosophies.
You may contact me at [email protected]
Thank-you for your interest,
o:3-->Wade Fenner
PS I will enter into a joint venture situation with less than the full package. So if you`re interested in partnering up on only a few properties I will consider it.