Real Estate Investment Deal – Vernon, BC

 

                     

CASHFLOW CONDO - AGREEMENT FOR SALE

Real Estate Investment Deal – Vernon, BC  

TURNKEY OPPORTUNITY IN VERNON, BC WITH RENTAL WARRANTY This is for a five year Agreement For Sale opportunity. You do not have to qualify for the mortgage. The seller will hold the mortgage for the next five years in this scenario while the renters build the remaining equity for you to pay for the down payment. There is also an optional $15,000 Line of Credit available from CFF Bank which makes it possible to finance this 100% with the bank’s money.   2Bdr. Condo 204 – 3712 24th Avenue, Vernon, BC SQFT: Year Built: Bedrooms: Bathrooms: Purchase Price: Down Payment Required (10%): MONTHLY RENT PAYMENT:

Sutton – West Coast Realty #301 – 1508 West Broadway Vancouver, BC V6J 1W8 Canada Tel: (604) 765-1490 Fax: (604) 738-1888

Property Profile Listing ID: MLS # - TBA

806 + Balcony 1994 2 1 $140,000 $15,000 Cash or Line of Credit Avail. $850

At an open variable rate on $113,000 the payments are less than $423. Add insurance, strata and taxes of about $316 p/mth and you still have positive cash flow. Tenants are paying you $850 p/mth. Your total payments would be $738. This produces an estimated net equity profit of $8,836 per year and a cash flow of at least $95 p/mth.

DESCRIPTION These homes are a first time home owners and investors dream. Located near the heart of Downtown Vernon, BC, you would be hard pressed to find a more convenient location to invest or to live. With the main downtown drive only two blocks away, shopping is a breeze. A beautiful Creek runs behind the property giving your tenants a spectacular nature setting. Whether you are a 1st time buyer or an investor these homes are sure to appeal to you. For the first time buyer, with an increase in building costs it just doesn't seem to make sense to buy new anymore. With minimal cost and effort, these homes can be additionally renovated at huge savings compared to new.

Location: Vernon, British Columbia Type of Property: Residential Condo # of Bedrooms & Baths: Two Bedrooms One Bathroom Management: Onsite Caretaker through the Condo Board

Deal Highlights  +4 Year Track Record of Less than 1% Vacancy in the Building

 Unit is in excellent rental condition  Rents can be raised each year by +2%

 Continuing management team available to assist

Investors will find the suites to be a welcomed delight. With 14 units in the complex, rarely if ever do you see any suites being vacant. Combine this with the fact that there are excellent full time and live-in rental managers on site to tend to your rental needs such as acquiring and screening renters, collecting rent and doing odd touch ups and small repairs.

 Many long standing tenants in the building

 City and Area is quickly growing  Key strategic maintenance personal in place

 The buyer does not need to qualify For more information about this property opportunity, please contact:

Thane Lanz Direct: 604-765-1490 Email: [email protected]

* Seller is a licensed Realtor with Sutton Group - West Coast Realty. This is a personal sale.

for a mortgage until 2020.

 The Seller will provide a rental warrantee to re-rent the unit any time it becomes vacant for the duration of the contract term within 1 month.

Financial Summary – Expected Case Using $15,000 Line of Credit (100% Financing) (3% Appreciation)

Financial Summary – Expected Case Using $15,000 Cash (90% Financing) (3% Appreciation)

Financial Summary – Best Case (5% Appreciation)

               

 

Financial Summary – Worst Case (Zero Appreciation)                                                                  

   

Financial Summary – Buy & Hold With Mortgage Using $35,000 Cash (75% Traditional Bank Financing)                                                               

   

Optional Line of Credit Details From CFF Bank (Further details will be provided through a Licensed Mortgage Broker)