Opportunities:

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.

The Plan

The Buy

Purchase for $485,000 JV partners(s) fund DP and closing costs.  Renovations funded via private lending

The Reno’s!

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

Post Reno’s

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!

Post Refi:

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