Goals & Aspirations for 2008

Our number one goal for the remainder of 2008 is to take advantage of the depressed property market south of the border (USA).

Specifically, our goal is as follows:

1. Take advantage of the strong Canadian dollar by making large property purchase in USA
2. Take advantage of the strong Canadian Real Estate market by renovating properties SIX & SEVEN via Gov't grant & then refinancing properties for the down payment on a revenue/recreation property purchase in depressed USA market.
3. We are concentrating our area of purchase in Orlando Florida for short term rentals so the property can be effectively used as a revenue generator, as well as recreation property for ourselves (not to mention great capital gain potential).
4. This opens the door to USA expansion. When the market in the USA rebounds (which it should shortly) then we are in position to refinance and buy another revenue property with the USA contacts & experience established from this experience.

How will we do it?

Firstly our goal is to extensively renovating both the above properties (SIX & SEVEN) including new windows, flooring, new kitchens & new bathroom as well as curb appeal. This is accomplished by the funding approved by our grant, as well as some dollars we contribute ourselves.

Secondly, we then we send in an appraiser to appraise them.

Thirdly, we believe given the work involved, that property SIX after renos can be appraised as much as $245,000 which at 80% LTV via regular cheap interest bank refinancing would give us $40,000 as a down payment for a Florida 5 bedroom home valued between $200,000 and $300,000. We believe that property SEVEN after renos can be appraised for as much as $235,000 which could give us as much as $8,000 in regular cheap interest bank funding. The remainder to be financed via private lender from Property EIGHT OUR HOME.

Given the Canadian Dollar being at par, and given the fact that Canadian properties are strong while American properties are significantly depressed, we feel this is a rare opportunity and one to take advantage of.

These combined factors create an opportunity that may be once in a lifetime for our generation and one that represents tremendous upside potential.