Welcome Jason Sultana, new Vice President of Operations for BG Wealth Group

Announcements / June 5, 2023

We have some exciting news to share with you as we continue to drive excellence and strategic growth at BG Wealth Group. We are thrilled to announce the appointment of Jason Sultana as our new Vice President of Operations.

Jason brings a wealth of expertise and a proven track record in operational leadership and driving strategic growth initiatives. With his keen business acumen and exceptional leadership skills, Jason will play a pivotal role in optimizing our operations and enhancing the overall client experience.

As a BG Investment Partner himself, Jason embodies our core values and is deeply committed to elevating our business processes, developing our talented team, and delivering exceptional service to our valued clients.

Jason’s experience in formulating effective strategies, implementing innovative solutions, and orchestrating successful projects will ensure that our operations are finely tuned and aligned with our growth objectives. With his guidance, we are confident in our ability to maximize value for our clients and investors.

His role will be instrumental as we expand into new markets. Jason’s expertise will provide us with strong execution capabilities, robust risk management, and enhanced returns for our esteemed investors, while upholding the level of value and service you expect from us.

We believe that Jason’s remarkable skills, passion for excellence, and commitment to our shared vision will help us achieve new heights as a company. We warmly welcome Jason Sultana to the BG Wealth Group team, and we are excited about the positive impact he will make.

To Your Success,

Craig Dunkerley
Co-Founder & CEO
BG Wealth Group

Owen Sound

261-281 9th Street East, Owen Sound, ON

	Value
Purchase Price	$1,055,000
Rents upon acquisition	$127,000
Fully rented	$235,290
Fully rented Building Value	$2,256,000
5-year ROI annualized	15.99%

The Story
261-281 9th Street East is a mixed-use (commercial/residential) building located in the heart of the downtown River District of Owen Sound. The building consists of 9 residential units (7-1 bedrooms, 1-2 bedroom & 1 studio apartment) and six commercial units. BG Wealth Properties purchased the building in March 2019 for $1,055,000 and immediately started employing its value-add model by renovating units and attracting high-quality tenants at attractive rental rates.

At the time of acquisition, one-bedroom residential units were renting anywhere from $550-$800 per month, and the two-bedroom unit was renting for $700/month. Through our value-add program, BG dramatically improved the condition of these units while successfully increasing rents on one-bedroom units to $1,300 per month, and $1,400 per month for the two-bedroom unit.

Similarly, commercial tenants were paying anywhere from $8.50-$10.00 per square foot at the time of acquisition (inclusive of taxes, maintenance, and insurance). Within the first 6 months, BG successfully started renovating commercial units and had new tenants sign long term leases at an average rate of $14.00 per square foot + $4.00/foot TMI (taxes, maintenance, and insurance) – for a total average rate of $18.00 per square foot.

Fully rented, the building carries a value of $2.2 Million based on rents we have achieved through our value-add business model.

This property still has more upside potential.

Owen Sound

950-956 2nd Ave. Street East, Owen Sound, ON

	Value
Purchase Price	$555,000
Rents upon acquisition	$28,800
Fully rented	$187,692
Fully rented Building Value	$1,600,000
5-year ROI annualized	17.38%

The Story
950-956 2nd Avenue East is a mixed-use (commercial/residential) building located in the heart of downtown’s River District of Owen Sound. The building consists of 6 residential units (2-2 bedrooms, 3-1 bedroom & 1 studio apartment) and two commercial units. BG Wealth Properties purchased the building in March 2019 for $555,000. The five upstairs vacant residential units were gutted with no tenants, while the downstairs had a high-end spa and a furniture store as commercial tenants.

In March 2021, BG Wealth Group partnered with an institutional lender and secured funding to renovate all residential units. In addition, given the shortage of high-end vacation rentals in the City of Owen Sound, BG has converted all six units to short-term vacation rentals, which will launch at the end of 2021.

In June 2021, BGWP attracted an up-and-coming Flame ‘N Bricks pizzeria franchise located in the commercial space beside the high-end spa. The culmination of high-end vacation rentals on the upper level, a spa and a pizzeria on the lower level will make this building one of the most attractive buildings in the downtown River District.

BG received a post-renovation appraisal of $1.3 Million on the building – more than 2X the original purchase price. Fully rented, the building carries a value of $1.6 Million based on typical short-term rental rates of the area.