- Joined
- Dec 16, 2008
- Messages
- 1,005
Hello REIN members: I have a short term investment opportunity on a property flip on raw land in Edmonton ( 40 acres in SW ) This is ground floor, buying in with the original purchaser who is flipping the property to a limited partnership who is developing the property. The property was originally purchased in May 2007 for $1.88M which was under value. We are expecting the new appraisal to come in at $2.4M to $2.5M. There is a contract in place between the current owner and the purchaser for $2.9M. Windsor Hills is raising $3.5M in an offering memorandum. They have raised $600,000 in the past month towards it. When the whole $3.5M has been raised, the purchase of $2.9M will take place. ro-->The purpose of this investment is to partner / JV with the current owner on the sale to the purchaser ( Limited Partnership / LP ). He needs a total of $1M to be invested into the project right now until the sale to the LP can be completed in the next 3 to 6 months depending when all of the money is raised. He is offering partnership in the property which he currently owns, there is a mortgage of approx. $1.2M on the property now. He needs the money to operate his business and is currently tapped out due to a sale in Saskatchewan that left him short on cash. He is willing to share the $1M profit he will be making on the sale of the property. I am authorized to raise funds through my numbered Alberta company ( 1318659 Alberta Inc. ). I am raising the total amount of $1M and have $150,000 committed so far. I can take any amount ( min $100K ) to put the whole amount together.--/fontc--> Security is the property itself ( Equity is $1.3M ) and the numbered company will be put on title. Investors get shares in the company. Once the LP is fully funded and the sale occurs, the shareholders of 1318659 Alberta Inc will get their return which will be a fixed amount of 25% regardless of when the sale occurs. If you invest $500,000 now, you would get $625,000 return in less than 6 months. $125,000 would be the profit or $20,833.33 per month. Let me know if this is of interest to you. There are many other opportunities as well. Time is of the essence. Warren Vignal, Broker Sans Serif">www.TransCanadaMortgage.ca[email protected]