Who’s looking for a profitable property?
This 3 bedroom condo townhouse is walking distance to the local marina and Lake Erie in the quaint Norfolk County beach town of Port Dover (40 minutes south of Brantford). It is a well maintained end unit with a deck, making it one of the more desirable units. Comes with 2 above ground parking spaces and lots of visitor parking. Currently tenanted at under market rent. New buyer to assume tenant (vacant possession will not be given).
How can you profit?
1) Move yourself or a family member in! Update slowly as you see fit.
2) Keep as a rental property. Market rents are much higher than current rents.
3) Do a slow flip so you pay less tax…keep the tenant for long enough so that you pay Capital Gains tax when you do sell.
4) Fix & Flip – entice the tenant to move, renovate, and re-sell.
SUMMARY:
– LOCATION: Port Dover (40 minutes south of Brantford, on Lake Erie)
– PURCHASE PRICE: $329,900 Or Best Offer
– AFTER REPAIR VALUE: Another unit just sold for $465,000
– CLOSING: August 16, 2021 (This is an assignment sale.)
– TYPE: 2 Storey Condo Townhouse
– BEDS/BATHS: 3 Beds/1.5 Baths
– PARKING: 2 spaces above ground
– BASEMENT: Finished rec room
– SQFT: 1092 sq. ft.
– AGE: 1990
– CONDO FEE: $285/month (utilities not included)
– TENANT: Month-to-Month. Rental income $1040/month plus all utilities. Buyer to assume tenant (vacant possession will NOT be given).
RENOVATIONS NEEDED:
– Cosmetic, as desired. Just needs “sprucing up”…new flooring and counter tops would go a long way.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.
GOOD NEWS:
– No exterior work to do…it’s a condo!
– Minimal interior renos necessary. It’s a bit dated, but liveable.
– Across the street from the lake.
– The huge discount!
Please let us know if you want to view it or if you want us to email you the info package. (Comparable sales, MPAC info, and more…)
Thank you,
Aaron Moore, Tomomi Wang & Josea Paul
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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Need Fast Financing?
Calvert Home Mortgage has the ability to finance most of the wholesale price, INCLUDING the assignment fee. Also, they can fund in 24 hours.
Calvert has options for buying with as low as $20k down, with rates starting at 7.99% and a 2% lender’s fee for 25% down.
No additional broker fees! No appraisal fee! Fully open!
DISCOUNT:
Get $500 off the lender’s fee from Calvert Mortgages if you let them know that you heard about them through House Deals GTA.