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Essay / Real Estate Business Plan - 667
This is to ask if your bank is able to grant a mortgage loan for my properties located in Central and in one location with an apartment of 14 suites, three duplexes and three vacant lots. . Other than a duplex and my suite, I haven't occupied these suites since 2007 because I lost my business plan. To generate income, I must first pay off outstanding tax debts - $20,000 and utilities - $20,000, I must pay $20,000 to hire a contractor to install a separate heating system, and I have to finish the rest of the work myself. These properties can produce a monthly net income of around $5,000 which can most likely be stable from the fifth month of starting mortgage payments. I estimate the rental will take three months to start. The estimated net income is only the lowest rent, $300 plus utilities for one unit. I will also be able to continue a second phase of major renovation such as changing windows and doors, etc. The three vacant lots can also be used for new revenue properties as a large development in one location; However...