Opportunities

April 15th, 2005:

I just purchased a great duplex in Winnipeg, I would consider a joint venture 50/50 split with an investor willing to cover the downpayment. I will cover closing costs. If you are interested please email me or call me on my cellular at 604-619-5680. If none, I will keep for myself. This opportunity will be available until May 8th 2005.

225/227/225B Harper Ave, Windsor Park, Winnipeg (nice area)

Total Finished Area: 2800 SF
Large 2 car garage with automatic door.

Purchase Price: $171,000

Rental Income:

225: 675.00 2BR/1BA (tenant pays gas) Leased till July 1st 2006 (Suite easily worth $700)
227: 580.50 2BR/1BA (tenant pays gas and hydro) Leased till August 1st 2006 (Suite easily worth $750)
225B: Vacant 2BR/1BA (Very nice renovated suite, will rent for $600 easily)

Total income: 1855.50/mo
Estimated potential income: 2050/mo

Expenses:

Taxes: $230.96/mo
Insurance: $110/mo
Hydro: $114/mo
Gas: 0
Water/Swr: $118.38
Property Mgmt: $120.60
Mortgage with down payment of 25% @ 5% fixed rate: $745.91/mo
Mortgage with down payment of 25% @ 4% variable rate: $674.73/mo
Mortgage with down payment of 35% @ 5% fixed rate: $646.46/mo
Mortgage with down payment of 35% @ 4% variable rate: $584.68/mo

Total Expenses @ 25% down payment @ 5% fixed rate: $1440.35 = $415.15 current positive cash flow with potential for $609.65
Total Expenses @ 25% down payment @ 4% variable rate: $1369.07 = $486.43 current positive cash flow with potential for $680.93
Total Expenses @ 35% down payment @ 5% fixed rate: $1340.90 = $514.60 current positive cash flow with potential for $709.10
Total Expenses @ 35% down payment @ 4% variable rate: $1279.12 = $576.38 current positive cash flow with potential for $770.88