- Joined
- Oct 22, 2008
- Messages
- 135
I'm interested in doing a Joint Venture on a property I have under contract.
The plan: Keep it as a long term rental for 5+ years. (No plan to sell.)
As a rental property it will be low cash flow; the rent will cover the basic expenses at 25% down.
But it is high equity. We're buying with over $60,000 instant equity.
Quick Summary:
-Similar houses are selling around $550k now. (Were selling over $600k this spring.)
-Under contract for $466,000
-13 Year old home
-4 bed, 2 storey, 2 car garage home.
-Bowmanville, ON (45 min from Toronto)
Needs minor renos:
-carpet is old & ugly.
-roof shingles are showing signs of wear.
NOTE: Very close to the proposed Bowmanville GO Train station.
CONSIDER THIS:
Were else can you buy a newer 4 bed, 2 storey, 2 car garage home this close to Toronto at $466k?
Take a look on MLS. You won't find one this close to Toronto. (But let me know if you find one, because I'll buy it.
If you have questions, then please call me at 1-877-363-0557. Or message me on this forum.
Talk to you soon,
Aaron
The plan: Keep it as a long term rental for 5+ years. (No plan to sell.)
As a rental property it will be low cash flow; the rent will cover the basic expenses at 25% down.
But it is high equity. We're buying with over $60,000 instant equity.
Quick Summary:
-Similar houses are selling around $550k now. (Were selling over $600k this spring.)
-Under contract for $466,000
-13 Year old home
-4 bed, 2 storey, 2 car garage home.
-Bowmanville, ON (45 min from Toronto)
Needs minor renos:
-carpet is old & ugly.
-roof shingles are showing signs of wear.
NOTE: Very close to the proposed Bowmanville GO Train station.
CONSIDER THIS:
Were else can you buy a newer 4 bed, 2 storey, 2 car garage home this close to Toronto at $466k?
Take a look on MLS. You won't find one this close to Toronto. (But let me know if you find one, because I'll buy it.
If you have questions, then please call me at 1-877-363-0557. Or message me on this forum.
Talk to you soon,
Aaron