My first investment

[Avery Pemberton-Smith]

I'm thinking of buying this place and updating the kitchens and appliances to increase the cash flow. It is a duplex with 5 bedrooms 2.5 baths on one side and 3 bedrooms 1.5 baths on the other with a 1 bedroom suite in the basement ( separate kitchens and laundry) 171-167 McIntyre Asking 200000 Willing to sell for 196000 9800 down 5880 in cmhc fees 35000 in future updates (next year) 45000 invested 190080 loan @ 2.64% = 900 a month mortgage 300 city utilities 200 taxes 150 insurance 125 vacancy 275 capital expenditures 250 property management 250 utilities for 167 Total: 2450 Rent for 171: 1100 + utilities Rent for 167: 1000 up and 300 for basement suite (her only subject is that her employee stays in the suite at 300 per month utilities included for 6 months) for 167 (before renovations) Total: 2400-2450 -50 cash flow 200 cash flow with me doing property management for the first year After Renovations Income for 171: 1400 + utilities Income for 167: 1150 up 650 down utilities included Total: 3200-2450 = 750 cash flow 750x12= 9000 annually 9000/45000= 20% Return This is my first step into the world of real estate. Let me know what you think.

[Brent Coombs]

That exhausted me just reading it. Oh to be young again. I'll bow out now. Others may have comments about legalities and tax issues you might encounter along the way. Well done so far...