- Joined
- Oct 23, 2007
- Messages
- 241
LOCATION LOCATION:
- The City of Barrie is Located about a one hour drive north of Toronto and a 45 minute drive from the Lester B. Pearson International Airport.
- Barrie`s Population is Growing - Between the years 2001 & 2006 the Barrie Census Metropolitan Area was identified by Statistics Canada as the Fastest growing area in Canada! Barrie has a population of 132000 and is prjected to climb to 180000 by the year 2031.
- Barrie is also Canada`s youngest Census Metropolitan Area with 21.3% of the total population under 15 years old. Well above the national average of 17%.
- The City of Barrie also had a 22.9% increase in it`s employment growth between the years 2001 & 2006, compared to the national average of 8.5% during the same period according to Statistics Canada.
- The City of Barrie is home to Georgian College which is slated to expand. Georgian College received the first contribution of $400, 000 for the contruction of a health and wellness centre at the Barrie Campus. The $65-Million project at it`s final phase will increase enrolement by about 3000 students.
- Barrie has been recognized by MoneySense Magazine as a key Canadian Investment Location, when considering Value, Momentum, and Economic Strength Category - Barrie ranked 4th after Regina, Saskatoon, and Winnipeg. Barrie was the only city to receive an A+ in the Economic Strength Category.
The City of Barrie has an Excellent Quality of Life for wide variety of out door interests. Barrie has an exceptional, affordable quality of life and is a four season waterfront community situated on beautiful Kempenfelt Bay. - The City of Barrie also had a 22.9% increase in it`s employment growth between the years 2001 & 2006, compared to the national average of 8.5% during the same period according to Statistics Canada.
Barrie has a picturesque, historic downtown and access to a volume of diverse and exciting recreational and community activities for every season. And the city of Barrie provides a healthy environment for employees. - Barrie is also Canada`s youngest Census Metropolitan Area with 21.3% of the total population under 15 years old. Well above the national average of 17%.
The City of Barrie is implementing a Down Town Waterfront Redevelopment Plan by Introwest the same firm that designed Whistler B.C. - Barrie`s Population is Growing - Between the years 2001 & 2006 the Barrie Census Metropolitan Area was identified by Statistics Canada as the Fastest growing area in Canada! Barrie has a population of 132000 and is prjected to climb to 180000 by the year 2031.
[list type=decimal]Within 800 Meters of this Investment is the Re-Opening of the Allendale Train Station which will be where the second Go-Train Station will be so communters can ride the rails from their homes in Down Town Barrie to their Professional Jobs in down town Toronto.Right along the same side of the street, Nautica Condominiums are being built and thier minimum purchase prices are from $199000 to $229000 for comparible properties to this Investment.This Investment is right in the Heart of all the major water front Redevelopments and close to the new down town Barrie Financial District on Collier Street.[/list type=decimal]The Investment Property by the Numbers:
65 Ellen Street, Barrie
Appraised Value $160000Sale Price: $143000Required Cash to Close: $33860 (Included 20% $28600 down payment+$5260 closing costs & reservefunds) First Mortgage: $114400 (80% Loan to value) Pro-Forma Income Monthly
Rent: $1200
Storage Locker Rent: $50.00
Monthly Expenses
Property Taxes: -$175.00
Condo Fee: -$317.00
Maintenance: -$75.00
Cash Flow Before Debt payment: $683.00
Mortgage payment: -$638.46 (5.89% Interest 3 year fixed - 35 Year Amortization)
Cash Flow: $130.52 ($44.54 cash on cash + $86 mortgage principal reduction)
An Estimated return on Investment over five years:
[list type=decimal][*]Estimated 6% year over year appreciation: $72000.[*]Estimated Cash Flow over five years: $2672.40.Mortgage Principal Reduction: $5813.74Total Estimated Return: $80486.14[/list type=decimal]Your Estimated return after a sale: $40243.07 or 118% over five years!
And that`s not all. You`ll never have to deal with a tenant issue, or collect rents, or deal with repairs or maintenance people. Why? because that my contribution. I`ll put up my time, knowledge, & expertise to manage our joint venture property. I`ll run this like a business, because this is my business.
So if you`re looking for a Recession Proof Investment in the Economic Booming City of Barrie, that is free of any Financial Crisis, and that will be bypassed by this Global Credit Crunch, then call me today. We`ll ensure that your investment will work very well for you!
Jules Mckenzie
Ontario REIN Member
Barrie/Orillia
Cell # (705) 330-1879
Email: [email protected]
Having Fun, Making Money & Making a Difference!