- Joined
- Aug 30, 2007
- Messages
- 11
I THANK ALL THOSE WHO SHOWED INTEREST IN THIS DEAL. THE JV PARTNER HAS CONFIRMED THEIR COMMITMENT AND THIS OPPORTUNITY IS NOW CLOSED.
HAPPY INVESTING!
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Looking for a JV partner for multi-family development opportunity in downtown Penticton, BC.
**Short time frame, with commitment required by Wednesday September 12th, 2007.
WE WILL CLOSE ON THIS DEAL WITH OR WITHOUT A JV PARTNER FOR THE DOWN PAYMENT.
The Commitment: $125,000 Down Payment + $40,000 Reserve Fund for total of $165,000.
The Deal:
- Downtown Penticton, BC
- Zoned medium density, multi-family development (approval for 24 units)
- $250,000 down payment (JV partner required to commit $125,000)
- Financing already arranged
- 18 month commitment to allow for development completion
- The developer owns 50% of deal and has their money in the project
- Developer has a solid reputation, is an expert in geothermal design and development and is the developer for the acclaimed Mt. Baldy condominium project
The Return:
- We control 50% of the deal, the developer controls the other 50%
- JV Partner entitled to 16.67% of the entire deal (1/3 of our 50% portion)
- Sales price: $290,000 per unit
- Total sales (24 units): $6,960,000
- Total estimated profits on development completion: $1,400,000
- Total JV partner profits on development completion: $233,380
- Estimated ROI: 141% after 18 months (based on $233,380 return on $165,000 investment)
Potential Upsides:
- Pursuing application for high density, which could take the number of units in the development from 24 to 40. There would be no further commitment funds required from JV partner, however ROI would increase as there would be profits from 16 additional units.
The successful JV partner must be willing and able to commit $165,000 by Wednesday September 12th, 2007.
Call me today.
Thank you,
Kap Hiroti
BC REIN Member
President - DealSpeak Inc.
Phone: (604) 323-0623
Fax: (604) 357-1547
Website: www.kaphiroti.com
HAPPY INVESTING!
--
Looking for a JV partner for multi-family development opportunity in downtown Penticton, BC.
**Short time frame, with commitment required by Wednesday September 12th, 2007.
WE WILL CLOSE ON THIS DEAL WITH OR WITHOUT A JV PARTNER FOR THE DOWN PAYMENT.
The Commitment: $125,000 Down Payment + $40,000 Reserve Fund for total of $165,000.
The Deal:
- Downtown Penticton, BC
- Zoned medium density, multi-family development (approval for 24 units)
- $250,000 down payment (JV partner required to commit $125,000)
- Financing already arranged
- 18 month commitment to allow for development completion
- The developer owns 50% of deal and has their money in the project
- Developer has a solid reputation, is an expert in geothermal design and development and is the developer for the acclaimed Mt. Baldy condominium project
The Return:
- We control 50% of the deal, the developer controls the other 50%
- JV Partner entitled to 16.67% of the entire deal (1/3 of our 50% portion)
- Sales price: $290,000 per unit
- Total sales (24 units): $6,960,000
- Total estimated profits on development completion: $1,400,000
- Total JV partner profits on development completion: $233,380
- Estimated ROI: 141% after 18 months (based on $233,380 return on $165,000 investment)
Potential Upsides:
- Pursuing application for high density, which could take the number of units in the development from 24 to 40. There would be no further commitment funds required from JV partner, however ROI would increase as there would be profits from 16 additional units.
The successful JV partner must be willing and able to commit $165,000 by Wednesday September 12th, 2007.
Call me today.
Thank you,
Kap Hiroti
BC REIN Member
President - DealSpeak Inc.
Phone: (604) 323-0623
Fax: (604) 357-1547
Website: www.kaphiroti.com