MUR – Rental homes project


April 30, 2015

Revenue generating cash positive properties
TerraCorp Investments has a purchase agreement with a number of affiliated associations to acquire up to 50 revenue generating cash positive properties. This would be the first of a number of these bulk purchases. Amount: $700,000 to complete the purchase of 25 rental homes in Edmonton, AB
Term: 1 year
Rate: 10%
Position: Second
LTV: 29.18%
When: Immediately
Where: Edmonton, AB,
Terra Corp Investments has negotiated a conventional first mortgage on the purchase of these homes but require a short term loan to complete the deal. The 25 properties are appraised at $12 Million and have arranged a first mortgage of $6.6 million. These properties generate $84,000/month in revenue and net $30,000/month (approximately).
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