- Joined
- Oct 23, 2007
- Messages
- 241
I have a great opportunity for cash flow in Orillia! I am seeking a joint venture partner with $73450 for the down payment, closing costs,& reserve funds. This for sale by owner in 4 plex is in Orillia right in the heart of a lot of re-development. Are you unable to attend Orillia to invest? Do you lack the time, but have the capital. Why not let your capital work for you while you get me to work the deal. 50/50 deal and you`ll never have to deal with any of the hassles.
I have seven years of real estate experience in management, acquisitions, & administration.
[/color]
The idea of a low maintenance property is ideal. I know that four & five plexes give the best chance for positive cash flow. And most of these are occupied by low to moderate income tenants. So you may be feeling intimidated by this? Some of these properties have a lot of deferred maintenance and repairs, but the nice thing about this property is that you`ll have all the benefits of cash flow & you`ll never have to deal with a single tenant issue or contracting repairs. Also the seller has spent thousands in upgrades and is paying for the retrofitting and fire coding right now as you read this!
These are the numbers in the raw:
Income:
Apt #1 - 750 + hy
Apt #2 – 720 incl
eo-->Apt #3 – 800 + hy
Apt #4 – 875 incl
Total - 3145/month x 12 = 37740/yr
Laundry Inc – 50/m x 12 = 600
Total Income - 38,340/yr
Expenses: 2007
Heat - 3870
Hydro - 1643
Taxes - 3120
Water - 1200
Insur. - 1500
ont-family:Times New Roman">Snow/grass-1000Total - 12333/yr
Net Income - 26,007/yr
So if you have no time nor inclination but want your money to be securely invested? Then call me now…
[/size]The seller is now willing to do a vendor take back mortgage for $48450 interest free for one year & 6% interest year two. This reduces the down payment, closing costs, and reserve funds to $76750.00.
If your interested please call me so we can begin the process of more intensive due diligence & an offer to purchase.
Jules Mckenzie
Real Estate Investor
Barrie/Orillia
[email protected]>
Cell# (705)330-1879
Pager 1-888-224-5857
I have seven years of real estate experience in management, acquisitions, & administration.
[/color]
The idea of a low maintenance property is ideal. I know that four & five plexes give the best chance for positive cash flow. And most of these are occupied by low to moderate income tenants. So you may be feeling intimidated by this? Some of these properties have a lot of deferred maintenance and repairs, but the nice thing about this property is that you`ll have all the benefits of cash flow & you`ll never have to deal with a single tenant issue or contracting repairs. Also the seller has spent thousands in upgrades and is paying for the retrofitting and fire coding right now as you read this!
These are the numbers in the raw:
Income:
Apt #1 - 750 + hy
Apt #2 – 720 incl
eo-->Apt #3 – 800 + hy
Apt #4 – 875 incl
Total - 3145/month x 12 = 37740/yr
Laundry Inc – 50/m x 12 = 600
Total Income - 38,340/yr
Expenses: 2007
Heat - 3870
Hydro - 1643
Taxes - 3120
Water - 1200
Insur. - 1500
ont-family:Times New Roman">Snow/grass-1000Total - 12333/yr
Net Income - 26,007/yr
So if you have no time nor inclination but want your money to be securely invested? Then call me now…
[/size]The seller is now willing to do a vendor take back mortgage for $48450 interest free for one year & 6% interest year two. This reduces the down payment, closing costs, and reserve funds to $76750.00.
If your interested please call me so we can begin the process of more intensive due diligence & an offer to purchase.
Jules Mckenzie
Real Estate Investor
Barrie/Orillia
[email protected]>
Cell# (705)330-1879
Pager 1-888-224-5857