Spirepoint Properties

Deal Card

Joint Venture - Deal ID # JV109

This deal is NO LONGER AVAILABLE

 Opportunity
Joint Venture: $74,000 (approx. amount for 25% down payment)
Cashflow: $5508 / year 
ROI (cashflow only): 7.44% / year 
ROI (w/ mortgage paydown): 13.47% / year 
ROI (w/ mortgage and equity): 41.02% for first year
When: August 15, 2005
Deadline: June 10, 2005
This is a renovated 4-plex with a secluded backyard for the tenants, only minutes from a corner store, shopping, etc. Also includes six parking spots that can be rented out to neighbouring businesses or individuals for increased cash flow. No renovations required on this property, as property was maintained by a very meticulous owner.

 
Details

On May 28th, Spirepoint Properties received an accepted offer on a 4-plex in Ottawa.  
 
The Proforma Cash Flow Analysis documents shown below provide you with the details you need to make an educated decision.  The difference between the two documents is in the initial contribution level and how it impacts the return and cash flow.  We are giving you the option to join at either level.  Please note that all utilities and taxes will be validated with the actual invoices from the vendor.  The capital required to get involved with this investment is available on the Total Investment line.
Note: If you are having trouble reading the documents, please download Adobe Acrobat Reader here)
For your reference, here is a brief overview of what a Joint Venture entails.
  • The investor provides the funding required to secure the deal.  This includes the down payment, closing costs, and a few other costs.  
  • We will qualify for the mortgage and remain on the title of the property.
  • The joint venture partner has the option to register the joint venture agreement on title.
  • We co-ordinate the lawyer and banker to close the deal.  
  • We manage all day to day activities and renovations when required. 
  • The monthly cash flow is split 50-50.   The full amount before the 50-50 split can be found at the bottom of the analysis sheet.
  • When the property is sold, you would get your initial investment back and the balance of the appreciation is split 50-50.  
     
Conference Call
  • Saturday, June 4, 2005 at 12:00pm EST
  • 716-566-6067 (Buffalo, NY)
  • Access Code: 216416
  • Each Caller will be responsible for their long distance charges