This 10 unit building has the capacity to be converted to an 11 unit very easily. Note: zoning will allow for the addition of the 2 additional units.

Due diligence (income and expenses) have been completed, home inspection and estimates of improvements have been all completed. Our very reliable renovation crew (which we have used many times) have giving us a total estimate of $74,200 in improvements needed.

• The area is a great rental area of Windsor. You are situated off of Erie St. (our Little Italy). Fancy restaurants and renovated commercial buildings are to be found on those blocks of Erie St. For example, Harrison Ford (of Indiana Jones fame) if visiting the Windsor-Detroit area, always eats at his favorite spot on Erie Street, less than 200m away from this property.
• The lender that currently has this building Power of Sale is willing to do some creative financing in the form of a construction style mortgage. They will hold 75% of the purchase price as a mortgage for a qualified Buyer, and give draws of money as certain renovations are completed, until the project is completed and you have 75% of its final value leveraged. This latter value happens to be more than your down payment plus renovation costs, so in essence you end up with a building for none of your own money in, extra money in your pocket ($20,000-$30,000), and about $100,000 in equity.
• This is a solid middle class neighbourhood; extremely difficult for us to find a better place for an income property.
• potential for an excellent return after all renovations completed.
• We have four teams of contractors that do multiple fix and flips a year, this is nothing new to them. We are certain that their quotes are spot on.
• There are 4 garages at the back that are begging to be rented out for $50-80 each per month
• A potential purchaser will be able to cover the cost of their mortgage simply by just renting out two of the ten units.

• At first the improvements needed seem overwhelming but one walk through with our renovation crew and you will have the confidence and vision that we all have.
• Tenants will have to be filled into the complex after renovations are competed. We have no doubt that with all the updates and desirable location, tenants won’t be hard to find. You can either enlist in our services for finding tenants or use Rent4All services.
• Currently only mostly vacant (always happens during a power of sale proceeding), but again we have the resources to fill the units especially after renovated