All Forum Posts by: Lucas Ferris

Quote from @Lucas Ferris:

I thank you for your advice and I have considered it although I have decided to make this my last resort as I would much prefer after two years without chatting I will call him them with a success story vs in need of assistance. I have recently acquired land however I am short $63000 on the $290 000 lot and now have a different loan amount I am looking for this amount covers my payments for the year to insure simplicity with a monthly payment as well as I have $65000 cheque coming in the near future I am looking for the funds as I am going through the process already having put in an offer with this lot being $30 000 below appraisal value and average lot here being sold for at least that above appraised value a quarter acres in city is fenominal putting me in mid summer peak sales time of the year. If anyone knows of a lender for this much more reasonable amount please let me know thank you take care also the lot will bring in 10 000 per month I. Rentals on a $750 000 mortgage so it is a profitable build with a high multi million dollar sale price with a commercial business and an additional rental suite above it the house is essentially paid for by the rentals. Or a wealthy buyer will find this perfect fort their business.

This is one of my least profitable builds so I will share this publicly as a gift although I won’t share the loomines 3d renders which the name  is another gift   As the design is a highly profitable one and the renders will put you a step above

I thank you for your advice and I have considered it although I have decided to make this my last resort as I would much prefer after two years without chatting I will call him them with a success story vs in need of assistance. I have recently acquired land however I am short $63000 on the $290 000 lot and now have a different loan amount I am looking for this amount covers my payments for the year to insure simplicity with a monthly payment as well as I have $65000 cheque coming in the near future I am looking for the funds as I am going through the process already having put in an offer with this lot being $30 000 below appraisal value and average lot here being sold for at least that above appraised value a quarter acres in city is fenominal putting me in mid summer peak sales time of the year. If anyone knows of a lender for this much more reasonable amount please let me know thank you take care also the lot will bring in 10 000 per month I. Rentals on a $750 000 mortgage so it is a profitable build with a high multi million dollar sale price with a commercial business and an additional rental suite above it the house is essentially paid for by the rentals. Or a wealthy buyer will find this perfect fort their business.

Quote from @Zorya Belanger:

Unfortunately, this isn't an effective way to raise capital, as you can see from the lack of responses. Have you talked to a mortgage broker that works with private lenders? You mentioned you have other projects that you could do that you can afford. Maybe do that first, build a track record, and then reach out to people who already know you. People invest in you more than the deal itself, and this post doesn't say anything about you. They need confidence in the execution. I teach investors in Canada how to scale from residential to multifamily, including the raising capital piece.

Thank you for your input. I have since successfully created building plans for a 7 plex apt building with complete take off sheets and if I go for low end finish products k can complete it for $630 000 which I think is closer to my own financing abilities with a bank if o cannot get private funding I have an also applying for different grants to allow me to have the money down for the land permits and concrete needed for the remainder of the funding. If you have any more detailed advice I would love to here it
thank you 
Lucas ferris

I have some building plans and essentially a complete bank package to take to the bank the build will cost 500 000 and the pay out is 2.5 million at least it is hear on Vancouver island I am curious if there is anyone interested in purchasing this and how much you would offer me for it it has my signatures on it I created it and I have the right to sell this I am wondering if it is worth it to sell it or. It. I have a few the profits going to over 3 million all 8 plex multi family dwellings. I am also looking for any investor interested in investing in one I can build it and can promise you will be considered a partner on it and be awarded relatively to your financial contributions if you choose to do so.

I have had mentors in the past & I have built houses & condos up to 8 units before. But it was under someone else’s financing. I have worked towards this point my entire life and I am more ready and more willing than anyone I’ve ever met. I have drafts 3d renders excel price sheets ,land picked out that fits in the budget, a crew I’ve worked with for many years, my downpayment is no where near the regular $300 000 expected. However I can  have a good co-signer if needed. I can promise you that there is nothing that can stand in my way, if you allow me. After a short conversation I’m sure  you’ll agree. I  have an 8 plex  I can complete for 1.24million with with a total outcome at the lowest possible amount of return equaling $4, 675, 000 I can accomplish this goal in a total of two years including purchase of land until the loan plus interest can be paid in full.i can also meet all the requirements of cmhc to fund my project the  only missing piece is I need someone else willing to lend me $1 million. I am willing to pay  a large amount of interest on the build to someone who is willing to extend the time period, allow me my irregular finance. Although  I have other plans   that can be completed  with a downpayment I’d be able to afford.  T his is my preferred choice we can all profit most from. The  land I’m interested in is on Vancouver island if there is anyone out there willing to help me get my start in bc I’ll greatly appreciate it.