All Forum Posts by: Ian Armour

 So far we have exceeded rent expectations by nearly 27%. So yes, the project is going very well. 

Hello! I'm an active Real Estate investor from Halifax, NS. I have +120 units. I'm also a licensed Realtor and Mortgage Broker and focus the majority of my work on investors. I'd love to connect.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,400,000
Cash invested: $400,000

Purchase Price: $1,400,000
Price Per Door: $58,333
Average Rents: $700/mth
Market Rents: $1,100/mth
Renovation Budget: $240,000
After Repair Value End of Year 3: $2,426,00
Value Per Door: $101,000
Valuation at Year 10: $3,630,000 (5% appreciation)
New Loan: $1,819,000 (75% LTV @ 6%)
Net Proceeds: $454,500
Initial Capital Invested: $400,000
Remaining Equity: $606,500
Ongoing Cashflow Years 4+: $70,000/year approx

What made you interested in investing in this type of deal?

Long term wealth

How did you find this deal and how did you negotiate it?

It was listed.

How did you finance this deal?

Bridge Financing, into traditional.

How did you add value to the deal?

Rehabs and increasing NOI

What was the outcome?

Still in process

Lessons learned? Challenges?

Determining an accurate renovation budget

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,400,000
Cash invested: $400,000

Financial Highlights:

Purchase Price: $1,400,000
Price Per Door: $58,333
All Units: 3 bed/1 bath
Average Rents: $700/mth
Market Rents: $1,100/mth
Renovation Budget: $240,000
Refinance End of Year 3 or sooner
After Repair Value End of Year 3: $2,426,000
Value Per Door: $101,000
Valuation at Year 10: $3,630,000 (5% appreciation)
New Loan: $1,819,000 (75% LTV @ 6%)
Net Proceeds: $454,500
Initial Capital Invested: $400,000
Remaining Equity: $606,500
Ongoing Cashflow Years 4+: $70,000/year approx
Quarterly Distributions Starting Q4 Year 1
Additional Details:

Strong cashflow year 1-3 before refinancing
All invested capital repaid to the investor by the end of year 3
Reno costs provided by Lender
Strong boots on the ground team in place
Landlord-friendly market
Total Raise: $400,000
Minimum Investment: $50,000
GP/LP Structure
Partnership Agreement
Building Specifics:

Number of Units: 24 units
Building Size: 33,393 sq. ft.
Unit Mix: (24) 3-bed, 1-bath
For more information, visit www.venturecocapital.com.

What made you interested in investing in this type of deal?

Long term wealth

How did you find this deal and how did you negotiate it?

It was listed.

How did you finance this deal?

Bridge Financing, into traditional.

How did you add value to the deal?

Rehabs and increasing NOI

What was the outcome?

Still in process

Lessons learned? Challenges?

Determining an accurate renovation budget

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,400,000
Cash invested: $400,000

Financial Highlights:

Purchase Price: $1,400,000
Price Per Door: $58,333
All Units: 3 bed/1 bath
Average Rents: $700/mth
Market Rents: $1,100/mth
Renovation Budget: $240,000
Refinance End of Year 3 or sooner
After Repair Value End of Year 3: $2,426,000
Value Per Door: $101,000
Valuation at Year 10: $3,630,000 (5% appreciation)
New Loan: $1,819,000 (75% LTV @ 6%)
Net Proceeds: $454,500
Initial Capital Invested: $400,000
Remaining Equity: $606,500
Ongoing Cashflow Years 4+: $70,000/year approx
Quarterly Distributions Starting Q4 Year 1
Additional Details:

Strong cashflow year 1-3 before refinancing
All invested capital repaid to the investor by the end of year 3
Reno costs provided by Lender
Strong boots on the ground team in place
Landlord-friendly market
Total Raise: $400,000
Minimum Investment: $50,000
GP/LP Structure
Partnership Agreement
Building Specifics:

Number of Units: 24 units
Building Size: 33,393 sq. ft.
Unit Mix: (24) 3-bed, 1-bath
For more information, visit www.venturecocapital.com.

What made you interested in investing in this type of deal?

Long term wealth

How did you find this deal and how did you negotiate it?

It was listed.

How did you finance this deal?

Bridge Financing, into traditional.

How did you add value to the deal?

Rehabs and increasing NOI

What was the outcome?

Still in process

Lessons learned? Challenges?

Determining an accurate renovation budget

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,400,000
Cash invested: $400,000

Financial Highlights:

Purchase Price: $1,400,000
Price Per Door: $58,333
All Units: 3 bed/1 bath
Average Rents: $700/mth
Market Rents: $1,100/mth
Renovation Budget: $240,000
Refinance End of Year 3 or sooner
After Repair Value End of Year 3: $2,426,000
Value Per Door: $101,000
Valuation at Year 10: $3,630,000 (5% appreciation)
New Loan: $1,819,000 (75% LTV @ 6%)
Net Proceeds: $454,500
Initial Capital Invested: $400,000
Remaining Equity: $606,500
Ongoing Cashflow Years 4+: $70,000/year approx
Quarterly Distributions Starting Q4 Year 1
Additional Details:

Strong cashflow year 1-3 before refinancing
All invested capital repaid to the investor by the end of year 3
Reno costs provided by Lender
Strong boots on the ground team in place
Landlord-friendly market
Total Raise: $400,000
Minimum Investment: $50,000
GP/LP Structure
Partnership Agreement
Building Specifics:

Number of Units: 24 units
Building Size: 33,393 sq. ft.
Unit Mix: (24) 3-bed, 1-bath
For more information, visit www.venturecocapital.com.

What made you interested in investing in this type of deal?

Long term wealth

How did you find this deal and how did you negotiate it?

It was listed.

How did you finance this deal?

Bridge Financing, into traditional.

How did you add value to the deal?

Rehabs and increasing NOI

What was the outcome?

Still in process

Lessons learned? Challenges?

Determining an accurate renovation budget

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,400,000
Cash invested: $400,000

Financial Highlights:

Purchase Price: $1,400,000
Price Per Door: $58,333
All Units: 3 bed/1 bath
Average Rents: $700/mth
Market Rents: $1,100/mth
Renovation Budget: $240,000
Refinance End of Year 3 or sooner
After Repair Value End of Year 3: $2,426,000
Value Per Door: $101,000
Valuation at Year 10: $3,630,000 (5% appreciation)
New Loan: $1,819,000 (75% LTV @ 6%)
Net Proceeds: $454,500
Initial Capital Invested: $400,000
Remaining Equity: $606,500
Ongoing Cashflow Years 4+: $70,000/year approx
Quarterly Distributions Starting Q4 Year 1
Additional Details:

Strong cashflow year 1-3 before refinancing
All invested capital repaid to the investor by the end of year 3
Reno costs provided by Lender
Strong boots on the ground team in place
Landlord-friendly market
Total Raise: $400,000
Minimum Investment: $50,000
GP/LP Structure
Partnership Agreement
Building Specifics:

Number of Units: 24 units
Building Size: 33,393 sq. ft.
Unit Mix: (24) 3-bed, 1-bath
For more information, visit www.venturecocapital.com.

What made you interested in investing in this type of deal?

Long term wealth

How did you find this deal and how did you negotiate it?

It was listed.

How did you finance this deal?

Bridge Financing, into traditional.

How did you add value to the deal?

Rehabs and increasing NOI

What was the outcome?

Still in process

Lessons learned? Challenges?

Determining an accurate renovation budget

Hello Maricar, 

Ive done a few flips in Halifax and have a lot of real estate connections. Feel free to reach out if you'd like to chat! 

Ian Armour

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $43,000
Sale price: $157,500

Fix and Flip. Only did cosmetic renovations.

What made you interested in investing in this type of deal?

Making Money

How did you find this deal and how did you negotiate it?

Ad posed for "Buy for Cash"

How did you finance this deal?

Own Cash

How did you add value to the deal?

Made the money in the buy

What was the outcome?

Profited about $60K

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

Hey Guys, 

Im a fellow Bigger Pockets follower in Halifax. I own a roofing company (Refined Roofing Inc.) and Ive got two properties, 1 in Halifax  that I've house hacked and a flip in Truro that has just gone on the market. Good seeing a following in Halifax. Would love to chat more RE!

Ian Armour