Today I looked at this 12 unit apartment building in the city where my in-laws live. It shows pretty good cashflow from my preliminary analysis. I have a partner lined up who is willing to split the deal 50/50 if we can arrange the financing. I am currently working with the seller to negotiate a fair price.
Last night I spoke with a local business owner who may be looking to sell his fitness club. I know that the fitness industry is very competitive, but this club has a lot of potential. The business is currently making money and has additional upside potential by adding on personal training and nutritional product sales. The owner is motivated for personal reasons and mentioned that he will offer good terms. This is definitely something I will continue to investigate.
I currently have a position in the company Norex Explorations (NRX.V) trading on the TSX Venture exchange. This company is a seismic research and exploration company in Alberta that is showing record profits and buying up its competition. I took an initial position last month at $2.20 CDN and I am thinking of adding more. I will continue to watch this company for another buying opportunity.
As you can see, I have tried to tackle my future head on. I hope that some of these deals come to fruition, but I know that I must continue to look for opportunities and take disciplined action.
“Success is when opportunity meets preparation”!
I am going to take a look at a duplex tomorrow. I will post more on that after I have a peek!