Great location! Windsor is one of the fastest growing communities in Canada!
Current rents are ~50% below market. Getting to market rents would equal ~$25K in increased NOI!
Minimal reno’s needed.
Purchase for $485,000 JV partners(s) fund DP and closing costs. Renovations funded via private lending
Minimal renos would be applied through out, updating floors, kitchens, washrooms and paint. Targeting a reno budget of ~$50K which will be sourced via private lending
Through attrition and increases get rents to market increase from $4,383 to $6,600 a month!
NOI increase of $25,806 a year! Equals almost $600K in value!
Option 1 (Capital Recovery) – Refi with 70% LTV payback ALL investor capital + ~60K.
Option 2 (Cashflow) – Refi with 60% LTV leave ~45K in capital in property and double cashflow to $13k per year
Option 3 – Sell! Pocket return all capital and pocket ~$500K
Windsor 5 Plex Information sheet