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Wayne Hillier

Wayne Hillier
REIN Member
May 5, 2014
Agreement for Sale Assignment

Rutherford (Edmonton, AB)

With every assignment it includes FREE COACHING! You can email us as often as you like with any questions.

AFS Details:

Term – 7 years (July 27th 2025)
Deposit – Zero
Assignment Fee - $5000
Purchase Price - $260,000 approx. (seller’s remaining mortgage balance)
Current Value - $270,000
Possession – June 30 2018

Building Details:

3 Bedroom
2.5 Bathroom
Built in 2011
Townhouse Condominium
1179 Square feet
Double attached garage below

Holding Costs / Rent:

Mortgage - $742 (Bi-weekly, includes property taxes)
Condo Fees - $200
Insurance - $30
Other units in complex currently renting for $1800 a month

Recommended Exit Strategies:

The best strategy for this property is a long term Rent to Own tenant. Find a tenant-buyer who’s struggling to save for a down payment or reduce their debts but has a strong reliable income. This is going to save you thousands in yearly tenant turnover. As well, tenant-buyers are far more likely to treat their unit like their own home when they’re planning to buy it. I’d also negotiate a maintenance/repair deductible with the tenant to keep maintenance costs down.

Factor in a conservative 2% appreciation per year from it’s current value of $270,000. That’s a sale price to them of $310,000 in 7 years and a guaranteed $50,000 appreciation for you. Even if the property doesn’t appraise at that value at the end of the term you’ve still got lots of room to lower the price to ensure a successful completion.

I would recommend a monthly rent of $1700, with an additional $200 for the monthly option paid separately. At the end of the 84 monthes they’ll have accumulated $16,800 towards their deposit. Keep in mind you can raise the rents slightly over the years to offset the negative cashflow.

Principle Paydown - $50,000 approx.
Appreciation - $50,000
Total Profit after 7 years - $95,000

Interested in this deal or other great deals like this? Get in touch with us! We’ve got lots more coming up soon!

Wayne Hillier
Prairie Home Investments
[email protected]

(We apologize for the quality of the photos)


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New Forum Member
Oct 7, 2019
I'm just starting out as a rein member can you help me in the. Calgary area. I'm trying to get out of renting at the moment. Thanks
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