- Joined
- Mar 11, 2011
- Messages
- 6
The Opportunity with more detail.
Our 12 suite apartment in Oliver area was purchased last year with the intention of purchase fix up and refinance.which we have done successfully before but...... unfortunately due to a contractor that went delinquent on us with at series of incomplete and unfinished promises we are looking for capital to finish this building right away as we need the funds imminently as these dismal delays have drained our financial resources. . Because of these bleak and unnecessary time delays we have an AHS order on the building who have been very cooperative. We have had all the environmental requirements done by Advanced remediation. who were great with assisting us.
There is a new roof, new flooring, new appliances. We have appox $800,000 mortgage on the property and the after repair value appraisal arrived in at $1,308,000 as of June of this year. They are all 1 bedroom units and the building is considered more classic.
We are looking for an investor who has capital at this moment to invest in and also put towards paying to finish the project for a 50/50 ownership. If you want to manage it that may work too as we can be flexible depending on the agreement.
A fair bit of the work has been done. For example new roof and windows flooring appliances, .As mentioned the contractor we had went delinquent bleak and we are out of funds is why we are offering something we think could be worth while for an investor. We normally do not provide this type of opportunity but circumstances have been such that we need to.
Immediate gain in equity with the potential of selling or keeping for a period of time with greater equity.
Please remember these are approx numbers and due diligence for your sake is very important to proceed with this transaction so you are comfortable moving forward.
If we are to proceed we want to make sure both parties are in agreement with the plan and feel secure with their investment time lines.
I am getting more quotes to finish the project with time lines to determine what prices we are looking at to get finally completed! We get the sense with a good crew it could be completed in approx 2 weeks.
Feel free to email with any questions that will assist with you determining whether you would like to proceed. The property is in a great area of Edmonton from what I understand.
Feel free to ask any other questions.
We also have an appraisal available from June of this year.
For the record we like to proceed on good and ethical practices and provide a win win for all parties
The photo is not actual property but a fairly close representation.
Thank you
Our 12 suite apartment in Oliver area was purchased last year with the intention of purchase fix up and refinance.which we have done successfully before but...... unfortunately due to a contractor that went delinquent on us with at series of incomplete and unfinished promises we are looking for capital to finish this building right away as we need the funds imminently as these dismal delays have drained our financial resources. . Because of these bleak and unnecessary time delays we have an AHS order on the building who have been very cooperative. We have had all the environmental requirements done by Advanced remediation. who were great with assisting us.
There is a new roof, new flooring, new appliances. We have appox $800,000 mortgage on the property and the after repair value appraisal arrived in at $1,308,000 as of June of this year. They are all 1 bedroom units and the building is considered more classic.
We are looking for an investor who has capital at this moment to invest in and also put towards paying to finish the project for a 50/50 ownership. If you want to manage it that may work too as we can be flexible depending on the agreement.
A fair bit of the work has been done. For example new roof and windows flooring appliances, .As mentioned the contractor we had went delinquent bleak and we are out of funds is why we are offering something we think could be worth while for an investor. We normally do not provide this type of opportunity but circumstances have been such that we need to.
Immediate gain in equity with the potential of selling or keeping for a period of time with greater equity.
Please remember these are approx numbers and due diligence for your sake is very important to proceed with this transaction so you are comfortable moving forward.
If we are to proceed we want to make sure both parties are in agreement with the plan and feel secure with their investment time lines.
I am getting more quotes to finish the project with time lines to determine what prices we are looking at to get finally completed! We get the sense with a good crew it could be completed in approx 2 weeks.
Feel free to email with any questions that will assist with you determining whether you would like to proceed. The property is in a great area of Edmonton from what I understand.
Feel free to ask any other questions.
We also have an appraisal available from June of this year.
For the record we like to proceed on good and ethical practices and provide a win win for all parties
The photo is not actual property but a fairly close representation.
Thank you
