| Projected Investment: | Notes | |
|---|---|---|
| Down payment | 35% of purchase price | $303,450.00 |
| Land transfer tax | No first-time buyer discount | $13,815.00 |
| Lawyer & title insurance | projected | $2,000.00 |
| Renovation & furniture | Will add 3 pc ensuite, renovate all bathroom and kitchen, change windows, redo all flooring, painting, and so on… | $100,000.00 |
| Total projected Investment: | $419,265.00 |
| Projected Income | Notes | |
|---|---|---|
| Rent for A1 | main br with 3 pc ensuit | $1,150.00 |
| Rent for A2 | shared washroom with A3 | $850.00 |
| Rent for A3 | shared washroom with A2 | $750.00 |
| Rent for A4 | Will build 3 pc ensuit | $1,000.00 |
| Rent for M1 | shared washroom with M2 | $650.00 |
| Rent for M2 | shared washroom with M1 | $650.00 |
| Rent for B1 | Will redo the room | $550.00 |
| Rent for B2 | Will redo the room | $550.00 |
| Parking | 6 parking, 80/each/mth, 50% usage | $240.00 |
| Total Projected Income | $6,390.00 |
| Projected Expense | Notes | |
|---|---|---|
| mortgage interest | Total borrow $563,550.00 @ 30yr, 1.85% 4 yrs fixed interest. | $862.00 |
| property tax | $600.00 | |
| insurance | $200.00 | |
| utilities | Gas, water, hydro incl. | $500.00 |
| Cleaning & garbage removal | Every two weeks | $200.00 |
| lawn maintenance & snow removal | $100.00 | |
| management fee | $500.00 | |
| Total Projected Expense | $2,962.00 |
| Net Income/m | $3,428.00 | |
| Total net Income/yr | $41,136.00 | |
| Principal | $14,134.92 | |
| Total ROI/yr | not including the house growth | 9.81% |
| Common free hold growth/yr | 8-10% |
Refinancing will be available after the renovation finishes. The projected appraisal value for this property will be around 1.3 million compared to other smaller properties sold in the area. You will get $455,000.00 back to pay off all your one-time investment, and the new mortgage per month will be $3,058.00. You will still get more than $500 CASH every month other than all expenses you need to pay! Even including your mortgage premium!
Wanna invest such properties? CONTACT US or CALL US today @ 647-345-0808!