Ever heard of Profunds.ca Equitybuilders.ca

[donksky]

Hi,
Have u heard of the above or invested with either of them (Profunds in stoney Creek) & Equitybuilders in Mississauga? They do condo conversions & then sell to investors & claim to remove the hassle of finding good investment property, doing paperwork & managing them. They`re like Platinum out of B.C.

 

[markl]

Hi Donna,

I have seen some of the Profunds conversions in the KW area. The numbers didn`t look to great as they were negative cashflow with pretty high rent expectations. Profunds was a mortgage broker at one point and Carmen got us one mortgage but I wasn`t satisfied with the service so I have since taken my business elsewhere.

Equitybuilders I have noticed the same sort of trend.

IMO there are better investments out there unless you just want to have a RE investment with no work at all. I would suggest to find someone on the board and JV your returns will be far greater.

Again all just my opinion

Regards,

 

[BobHudson]

I, too, have had mixed success with Profunds. They brokered a couple of RRSP second mortgages for me. Those have gone reasonably smoothly though I am now seeing some follow up shortcomings.

I looked at their condo conversion pitch for Cambridge and was not impressed enough to sign up.

 

[donksky]

thanks again for ur input/patience, guys.

 

[ekisielewski]

QUOTE (donksky @ Jan 22 2008, 09:46 AM) Hi,
Have u heard of the above or invested with either of them (Profunds in stoney Creek) & Equitybuilders in Mississauga? They do condo conversions & then sell to investors & claim to remove the hassle of finding good investment property, doing paperwork & managing them. They`re like Platinum out of B.C.


Hi Donna: I have purchased 3 properties from Equity Builders and I am very happy with the results. Two of the properties were purchased at 30,000 dls below market value.I am a business owner with limited time for property management and that`s why the hands-off approach they offer works for me.

( I am a promoter for these types of properties)

Elisabet

 

[BobHudson]

QUOTE (ekisielewski @ Jan 24 2008, 10:12 AM) Hi Bob: I am considering purchasing in Cambridge and I am also promoting this investment for EB. Would you mind sharing what you did not like about this opportunity? I am mainly asking to see if there is something I am missing or simply a different perspective?
Thank you
Elisabet K.


It was a while ago when I looked at that deal and recall the it was the numbers that most threw me off. In particular, there was an `artificial` payment in the early months that made it look like a positive cash flow. But once that stopped it went negative in a hurry. It looked too `baked` to me.

 

[ProFunds]

Hi Donna, Mark and Bob,






I`d like to thank you for your feedback on our services and offerings and inform you that we take our clients` satisfaction very seriously.






While not every Pro Funds offering will be suited to every investor`s preferences/needs, we realize that there`s always room to improve and make a constant effort to do so. Since 2008 a lot has changed here and our offerings have improved significantly. We would be delighted to serve you going forward on any opportunities that suit your needs.






Mark and Bob, please accept our sincerest apology for any unsatisfactory service you`ve received from our brokerage and know that we`ve taken considerable measures to improve our customer service. To help us in the process we`ve hired several key customer service and administrative personnel with the objective of improving your experience.






I realize this doesn`t make up for any lack of service you`ve received in the past but we would be honoured to have the opportunity to make things right! Please feel free to contact us if there is anything we can do to help you in your real estate endeavours.






Thank you very much for your input. I wish you all the best!






Sincerely,


The Pro Funds Team