Who’s looking for a profitable property?
This house is in Brighton, a lovely town between Cobourg and Belleville, just off the 401. It’s only 15 minutes from Presqu’ile Provincial Park, so FIVE bedrooms and the hot tub make it a great AirBnB opportunity. Enjoy a day in the sun at the sandy beach, and then an evening in the hot tub with a cold one! In the winter, use the wood stove as backup heat or to go off-the-grid. At this price, it would even make for a profitable single family rental once updated.
How can you profit?
1) Single Family BRRRR. Buy for under $300k, and refinance for over $500k after renovations.
2) AirBnB or Cottage Rental. Near Provincial Park on lots of land! Nearby short term rentals go for $200-$400/night.
3) Move In. Do some minor renos right off the bat, and slowly work through the rest over time, as you see fit. Realtors, we’re paying 3% commission on this deal! Show it to your clients and bring us a buyer.
SUMMARY:
– LOCATION: Brighton, ON (County Rds 41 & 30)
– PURCHASE PRICE: $299,900 Or Best Offer
– AFTER REPAIR VALUE: Over $500k
– CLOSING: September 2022 (Seller to give 21 days notice of exact date. This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 2+2 Beds/1 Bath
– PARKING: 2 Garage Spaces Plus Lots of Driveway Spaces! Country-style driveway…park where you want.
– BASEMENT: Finished. Separate entrance
– LOT: 150′ X 225′ approx (narrows to 130′ at the back). About 3/4 acre.
– SQ FT: 1155
– AGE: 1989
– WELL/SEPTIC (serviced last spring)
RENOVATIONS NEEDED:
– Needs new roof soon and windows are original.
– Kitchen, bathroom, flooring, paint…the usual lipstick & rouge.
– Hot tub pump doesn’t work.
– Roof leak was repaired, but the ceiling still needs a touch up.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.
GOOD NEWS:
– The HUGE lot! 3/4 acre.
– At this price with a $200k+ spread, this deal is a no brainer.
– Multiple exit strategies given the current market.
– Massive garage…almost 700 sq ft.
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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