half building

[Denun]

let me say hi to all, i just registered and i apprehended about this site from another forum where i posted the same question, i hope someone can give me the suggestion i need ;P

...well, I have a very good multi in downtown Toronto (baldwin st), i spent a lot money in reno and is very well managed by an expert company, i spent everything there and it works very well.
My wife (we`r taking some time from each other) wants to sell her half and buy something near his mom, now i know that i can make good money from selling it, but i won`t because i`m really confident in that investment and i know what that building can achieve in the near future.

Do you know if exists a way to sell just the half of my wife? I asked to my remax agent and he told me that he never saw something like that on mls, so he`s pretty sure it`s not possible.

 

[2ndstory]

I would think you would have to stratify it first and then sell half the units. I suppose you could add someone else to the title in exchange for a fee and their willingness to take on half the mortgage payments, but you would need a lawyer for that. Actually, you would need a lawyer for either scenario.

Nik

 

[Thomas Beyer]

QUOTE (Denun @ Jun 18 2010, 02:51 AM) let me say hi to all, i just registered and i apprehended about this site from another forum where i posted the same question, i hope someone can give me the suggestion i need ;P

...well, I have a very good multi in downtown Toronto (baldwin st), i spent a lot money in reno and is very well managed by an expert company, i spent everything there and it works very well.
My wife (we`r taking some time from each other) wants to sell her half and buy something near his mom, now i know that i can make good money from selling it, but i won`t because i`m really confident in that investment and i know what that building can achieve in the near future.

Do you know if exists a way to sell just the half of my wife? I asked to my remax agent and he told me that he never saw something like that on mls, so he`s pretty sure it`s not possible.
Yes, you can sell half, but it is VERY unusual for small assets. It is occasionally done with very large properties, say an office tower downtown Toronto or Vancouver, in excess of $100M.

You can syndicate the building, i.e. do a JV on it with a new partner or 3. Thus: use this building to attract JV money. Why not post some meaningful numbers with pictures on myreinspace in the classified section ?

Improve your writing skills as with those in this post you will likely not be able to convince people to invest with you.