- Joined
- Oct 23, 2007
- Messages
- 241
- Canadian Business Magazine ranked us # 20 on Canada`s best places to Live.
- The City of Orillia enjoys the benefits of its proximity to the Greater Toronto Area while retaining its disticntive small town character which is very attractive to families, businesses, and actively retired baby boomers.
- Orillia has the benefit of Casino Rama located just across the lake. With 3600 employees & most of them seeking living accomodations in Orillia.
- Orillia is home to Ontario Provincial Police Headquarters. And has hosted over 1400 OPP employees since 1996, again many of which seek their living accomodations within Orillia.
Soldier`s Memorial Hospital has recently opened their $82 Million dollar wing complete with 60 additional beds, a new emergency department, new surgical suites, a new laboratory, and much much more...
And of course Lake Head University in it`s current site on West Street`s Heritage building. Currently 525 students enrolled. And the construction of the new perminate site off Harvie Settlement Road. The new Lake Head University will open in the fall of 2010 & at it`s final phaze of development in will have over 7000 students enrolled! - Orillia has the benefit of Casino Rama located just across the lake. With 3600 employees & most of them seeking living accomodations in Orillia.
Plus numerous new developments within the city of Orillia over 70 Million in building permits in 2007. - The City of Orillia enjoys the benefits of its proximity to the Greater Toronto Area while retaining its disticntive small town character which is very attractive to families, businesses, and actively retired baby boomers.
You get to invest with me... Jules Mckenzie!
[*]The Beautiful building that attracts great equity building tenants. [*]I already own 4 units in this 20 unit building. There are Mature single people that are looking for an apartment in this secure building. This building is located close to Highway 11 & Highway 12, just few minutes from down town & even closer to OPP General Headquarters. 1047 Mississaga St. West Orillia - by the numbers.
Appraised Value $ 125000
Sale price $115000
Down payment $31000 + $4989.64 = $35989.64 for closing costs, reserve funds, new applicances, & a paint job.
Assumable First Mortgage $84000
(4 Year closed CIBC First Line 5.04% Interest rate)
Monthly Income & expense
Market Rent: $830
Less Vacancy -$41.50
Property Taxes -$105.04
Condominium fee -$202.38
Maintenance -$41.50
Mortgage pymt. -$423.29
CASH FLOW = $92.15 (Included mortgage principal reduction)
This is a Capital Gains Investment.
If we estimated a very conservative 6% per year value appreciation
1st year $125000
2nd year $132500
3rd year $140450
4th year $148877
5th year $157809
- then in year five we would either sell the property or refinance.
Your gain would be estimated to be $23461 + $37989(initial capital return)
Thats 61% return on your money over five years!
Essentially you contribute your capital & I provide excellent property management.
And after the five years when we sell you`ll receive all you capital contribution back and we`ll split the remaining equity 50/50.
Call me today if you would like to discuss this option further...
I am planning on doing a tour of this property on Saturday November 29, 2008, from 2pm to 3pm...
Jules Mckenzie
REIN Member
Barrie/Orillia
Cell # (705) 330-1879
Pager # 1-888-224-5857
Email: [email protected]
Have fun, make money, & make a difference! pace.com/forums/style_emoticons//cool.gif" style="vertical-align:middle" emoid="
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