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Real Estate Opportunity in the heart of Whitewater Township!

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Viewing 15 posts - 1 through 15 (of 24 total)
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  • #2697
    Jenny Right-Side
    Participant

    Just minutes from put-in/take-out, Wilderness Tours, River Run.
    Gas Station, convenience store, fire station within walking distance.
    Only $84,900 on MLS 648717
    Yes….
    You guessed it….
    It’s….
    [img:hpz8h3fe]http://pictures.mls.ca/mls/reb77/medres/7/6487171.jpg[/img:hpz8h3fe]
    The Grotto!!!

    #21455
    McCoy
    Participant

    Hmmm. I thought this was a Boater Board, NOT a Real Estate Board :evil: . Hey, wanna buy a real neet car? How ’bout a watch?:lol:

    #21456
    Jenny Right-Side
    Participant

    Hey I’m not selling the house.
    I thought it was cool that it was for sale because a lot of kayakers have lived in this house over the years. I figured it would bring back memories for those who have worked here during the summers.
    It has a long kayak history here in the valley!

    #21457
    Plumbpass
    Participant

    Boy Jenny, some poeple just don’t like anyone to have any fun, eh?

    #21458
    RoughRider
    Participant

    I didnt know it was up for sale, good memories good memories. Ya the grotto is known for the crazy kayakers in the falls.

    #21459
    McCoy
    Participant

    Didn’t mean to diss a relic. Sorewee. :cry: Too much time on my hands.

    signed: Dr Leonard McCoy (posthumously), USS Enterprise, V’Ger Mission

    #21460
    Jenny Right-Side
    Participant
    "McCoy":2e7w5fxy wrote:
    Didn’t mean to diss a relic. Sorewee. :cry: Too much time on my hands.
    [/quote:2e7w5fxy]

    Ya, me too. Hence the original post in the first place! I need to get back in my boat!

    #21461
    boot
    Participant

    The gortto is a beauty…..I would love to buy it…Anyone want to lend me the cash???? I swear I will keep the parties and the Wednesday night poker games alive..and anyone can crash there whenever they want…

    #21462
    boot
    Participant

    Sorry forget to mention……I cant help but feel that someone with loads of coin should buy that place and turn it into a hostel, or even a little paddle shop….if i had the money i would do it

    #21463
    Peter Karwacki
    Participant

    If 80 people pitched in $1000 we could make an offer!

    Create the new Whitewater Bed and Breakfast. Run it as a business but have net proceeds from operations gotowards river preservation initiatives.

    As a bonus, members could stay at a discounted rate. I’ll be the first to put pledge $1000 for the cause, need 79 more.

    Pete

    #21464
    Grant
    Participant

    [quote:27pxx825]As a bonus, members could stay at a discounted rate. I’ll be the first to put pledge $1000 for the cause, need 79 more.
    [/quote:27pxx825]

    I’m in for 1/80th for a place to stay. Not sure about the liability issues of running it as a business though.

    #21465
    JamesGolick
    Participant

    I’ve gotta say – 80 people on a 5 bedroom place doesn’t seem quite ideal.

    It would be extremely difficult to regulate who got to stay when, especially with 80 people feeling entitled to stay, considering they had pitched in to buy the place.

    If somebody wanted to look at some smaller numbers (of ‘investors’), I think I could definitely be convinced, if the situation was right.

    PM me…

    James

    #21466
    Peter Karwacki
    Participant

    Okay, ten people at 8,000. Now we’re talking line of credit for some, or business loan.

    On the plus side, the interest would be deductible if the bed and breakfast idea only gave a portion of the net to charitable causes because of the need to pay interest on borrowings.

    The owners of the B&B need not be resident. Locals would need to be hired to ensure the pantry was full for breakfast.

    Who knows? it might work, after all we’re just it planning here on the back of an envelop.

    I don’t know what kind of shape this place is in, but it looks like three bedrooms. Lets assume 75% occupancy during the paddling season, June through September, and a room rate of $75 for bed and breakfast.

    revenue
    4 months x 30 days X 3 rooms X $75 X 75% occupancy = $20,250.00
    expenses

    food
    4 months x 30 days X 3 rooms X $10 X 75% occupancy = $2700

    laundry $2700
    heating, lights, etc $3,000
    housekeeping: $5,000
    maintenance $3,000
    taxes and insurance $2000

    subtotal $18,400

    net $1850

    ROI 2.3% per year…. not enough, net about 15% meaning you have to charge more like $95 per night.

    Too high for kayakers but not unreasonable for a four month a year operation.

    comments
    Pete

    #21467
    JamesGolick
    Participant

    Okay, now we’re getting somewhere interesting.

    Anybody have any idea what property tax is like in Beachburg?

    #21468
    Peter Karwacki
    Participant

    need more calculations.

    Pete

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