About the Investment
Non-conforming 3 plex in Youbou (Lake Cowichan area).
The property was under rented when we purchased, but one tenant turned over naturally and one tenant moved into a retirement home. Now with 2 of the 3 units at market rent, the property cashflows well.
In order to get the deal, we needed to get financing for one year from a “B” lender at 11% interest, but once the property was stabilized we got a good appraisal and were able to refinance for a much more reasonable rate and get most of our capital out. Another successful “BRRRR”!