commercial RE Investing part 9
Sunday, April 24
So the Sale of the Warehouse closed. I got a big fat deposit in my bank account. I put 600k into a cashable GIC. Those funds are in reserve to pay for my capital gains next year. In addition to the sale funds, I have withdrawn almost my full amount from my HELOC at a decent rate. I don't remember...
Commercial RE investing Part 8
Sunday, March 27
Closing was moved up on the warehouse sale to March 23... completed. We do not have a 1033 rollover here in Canada so I/my company will be paying a hefty capital gains Tax.Prior to the close, there was a lot of fixing up to do. In the end I spent about 14k to complete all the buyer's requiremen...
Commercial RE Investing part 7
Saturday, February 26
I have another site where I laid out my long term plans for RE. The goal I set was to make 100k net/month, from RE investments. This includes mortgage paydown/equity gains. In short, if we stay at a very low interest rate as we are now, If I have to make 200-240k mortgage payments per month...
Next Level investing Part 6 Commercial RE investing
Tuesday, February 08
February 8, 2022.So I had to log today as there is another experience I got as a Property Manager that you can really only get if you manage a lot of properties. .. an email from one of the caretakers in a 70 unit building I manage... and my reply this is not part of my Commercial RE story but ...
Next Level investing part 5
Wednesday, January 05
Two Months, no offers on the warehouse. The number 1 property that I had my eye on 15 units, 1.9M sold for 1.82M. There are two other solid options close by one with 12 units at 1.375m and another with 21 units at 2.6M. Plan B. I have checked with my regular banker and have scheduled a meetin...
Next Level investing part 4 Commercial RE Investing
Sunday, December 05
So it has been over one month now and I have not gotten any offers on this warehouse. At my last posting, the plan to sell the warehouse moved up into plan A. If we do get an offer and sell the warehouse, then It would be likely that I would purchase a larger apartment building. 20-28 units a...