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Cash-Flowing Legal Suited Home in Sylvan Lake Hot
Property Address
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Province/State
Latitude
52.27
Longitude
-113.76
JV Features
How Much Money/Price ?
Asking price is $360,000
Down Payment $72,000
Closing Costs $2500 (estimated with JV Agreement)
Reserve Fund $5000 (repaid to investor once cash flow has accumulated to that amount)
Total Required $79,500
Down Payment $72,000
Closing Costs $2500 (estimated with JV Agreement)
Reserve Fund $5000 (repaid to investor once cash flow has accumulated to that amount)
Total Required $79,500
Why this deal is good for Investors ?
This home will be built brand new complete with Alberta New Home Warranty. There will be very low to no maintenance required, keeping more money in the bank account. As well, it will have dual rental incomes with the legal suite. This is a very good long term buy and hold property and presents an impressive return on investment.
JV Details
JV Partner will be required to qualify for the mortgage and provide down-payment, closing costs and reserve fund. This is a minimum 5 year buy and hold property. Investment will be returned to investor and equity split 50-50 upon sale or refinancing. Excess cash flow will be reinvested into the property by way of mortgage pay down or forced appreciation.
This deal is a brand new home with a legal-suite and separate utilities. Projected cash flow is $200 per month with all expenses paid. This home is located in the ideal community of Ryders Ridge in Sylvan Lake, AB. It is close to numerous amenities and schools and has quick access to highway 11 to Red Deer. Ryders Ridge is a very popular community in Sylvan and has high demand to live in the community. Sylvan Lake is a rapidly growing town and has great long-term economics and a strong growth strategy.
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