News

May 1st, 2005:

I spent most of the month in Winnipeg looking at a number of properties, I am happy to say that i purchased two, and will be taking possession of both June 3rd. I am open to investors on one of the buildings, and will leave the opportunity open until Sunday May 8th. You can view the opportunity here. Below are the specs on both of the properties i purchased this month:


1. Up And Down Duplex With Basement Suite
  • 3 Suites, 2 BR / 1 BA
  • Attached double garage + extra parking
  • Great area
  • Built in 1960
  • Newer roof/furnaces/air conditioners
  • 2800 sq ft
  • Listed price: 179,900
  • Taxes: $2772
  • Insurance: $1200
  • Rental Income: $1805
  • Purchase Price: $171,000
  • Aproximate Cashflow: $500
2. 4 Suite Apartment
  • 4 2 BR / 1 BA
  • Parking for 5
  • Great area
  • Built in 1963
  • Newer roof/furnace
  • Low vacancy rate
  • Rent currently below market
  • Coin Laundry Income 1000/yr
  • Listed price: 159,900
  • Taxes: $2678
  • Insurance: ~ $1100
  • Heat: $3997
  • Elec/Wtr: $1800
  • Rental Income: $1820
  • Purchase Price: $191,000
  • Aproximate Cashflow $300
  • Potential Cashflow $1000+