7491 Building

In late 2024 we met with the property sellers and realtors.  The property was passed down to the sellers from their late father who was an avid builder and investor in Central Alberta.   The property had great bones, but lacked some of the typical investment criteria like long term leases, accurate Common Area Costs and Market Rents.   We spent over a month with analysing and estimating the costs it would take to stabilize the property.  We proposed a typical Conventional Offer and a Vendor Financed Offer to hopefully find a path forward that would best fit the sellers goals.    We ended up agreeing on a Vendor Financed purchase with 0% interest for 4 years.   This option gave the seller the highest possible price, while also gave us as buyers the ability to hammer away on the mortgage so that at time for refinance we would have an extremely low loan to value; while also reducing our risk during the stabilization process.