Investment Properties in Big Canoe
Lake Watch Village (On Left)
What makes a good investment property? A good investment property starts with the right purchase price and ends with profit. What goes in between is up to the investor. Some want to walk into a sale and walk out with booked rentals. Others want the lowest possible price for a fixer upper and have plans for a smart renovation. A perfect example of these extremes would be my 2 listings in Lake Watch Village in Big Canoe.
Lake Watch Village is centrally located in Big Canoe and in walking distance to lake Sconti, the clubhouse, trails, pool, tennis, golf course, fitness center, and chapel. I currently have 2 listings in Lake Watch that are both fully furnished. The rental potential is high for these free standing fee simple homes as there are over 200 weddings per year in Big Canoe. Most guests prefer to rent as close to the village as possible. Both of these listings have the same floor plan with 2 bedrooms and 2 full baths on the main level along with a large sleeping loft upstairs. In addition, 558 Lake Watch has an extended deck and lower porch with access to a semi-finished storage room with a full bath. So why the price difference?
565 Lake Watch is priced firmly to sell immediatly at 159K. This home is priced at the owner’s bottom line. It has a golf view and partial lake view. Maintenance work will need to be done on the house including new carpet or wood floors, deck work, trim, and some siding. Updating the kitchen and bathrooms would bring this home back nicely. The owner currently has month to month renters. This is the perfect home for an investor looking to rent either full or part time for income.
558 Lake Watch is priced nicely at 275K This home has a lake and golf view! It has been tastefully updated with beautiful granite and fixtures. The extensive decking and 3 covered porches allows for increased outdoor living. This unit is farther back and more private. It would also make a very nice vacation rental, but because it is close to the lake and more private, most of the buyers I show it to would prefer to live in it themselves. The lower level would make a perfect game/media room for teens.
Both units are turnkey (fully furnished), rentable, and ready to sell. The question is whether or not you want to invest in a fixer upper or a finished home. For more information or questions regarding these 2 homes or any Big Canoe properties please feel free to contact me on my site
Karin Elliott, IBA Mountain Homes
