Hi,
Investor wanted for joint venture real estate projects in Canada
We buy the distress or bankruptcy property from lawyer's office at wholesale price.
After the accusation, we do cosmetic renovation and sell it within 3-4 months
Maximum Project duration :5- 6 months
Property price range : 350k to 450K Canadian Dollars
Investment required : 20% down payment + 20-30K basic renovation
Guaranteed return of investment : 50% [ we will give you guarantee with legal agreement ]
We will take care A to Z of the flip project.
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Case 1 Purchase Price $457,000.00
Sale Price $689,000.00
Purchase date : Feb 17, 2014
Sale Date : June 05, 2014
Acquisition a) 10% Downpayment $45,700.00
b) Closing cost 1.5% $6,800.00
Subtotal $52,500.00
Mortgage amount @ Purchase $421,171.00 [ including 2.4% CMHC/GE fees ]
Net Mortgage @ Sale $418,121.00
Expenses Renovation cost $37,000.00
Mortgage for 3 months $5,628.00
4 months property tax $1,200.00
4 months utilities $400.00
Subtotal Expenses $44,228.00
Net investment = [ Acquisition + Expenses] $96,728.00
Sale Property Sale $689,000.00 Sales Costs ( Real Estate) [ Private sale_ Comfree ]
Sales Costs ( Legal ) = $1,000.00
Mortgage penalty fee ( 3 months interest only) = $2,550
Net Sale Amount $685,450.00
Gross Profit = [ Net Sale - Net Mortgage Amount ] $267,329.00
Net Profit = [ Gross Profit - Net Investment ] $170,601.00
Project consulting fee 50% of the project $85,300.00 Net Profit for the investor $85,301.00
Total Return [ Net investment + Net Profit ] 182029
ROI [ Return on Investment ] 88.64%
Yearly Return on Investment 265.92%
ROI = ( (Earnings) - Initial Invested Amount) / Initial Invested Amount) ) × 100
Please contact me for details project proposal at wali1697@gmail.com