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73 Lake Road, Portland CT $240,000

Real Estate Agent with Carl Guild & Associates

May 15, 2007 05:58 AM

Soaring profits abound for whoever takes title to this unfinished 3300 square foot Colonial on 73 Lake Road in Portland.
Instead of telling you what it has, it will be easier to tell you what it does not have.

This home has no finished walls, wiring, plumbing, septic (approved, engineered septic plan available) or certificate of occupancy.

It does have a one year old, 50 year shingle roof, all new Pella windows & doors, a brand new 3 flue chimney, and beautiful views of Great Hill Pond & Great Hill Mountain!

UNBELIEVABLE!

73 Lake Rd, Portland, CT 06480

Carl J Guild
Prudential CT Realty
East Hampton, CT 06424
860-539-5373
info@carlguild.com

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Chuck Christensen

Your Financial Coach - Bellingham, WA

WOW! That 's a great buy...to bad no one can afford it unless they have cash. Lenders will not even wink an eye for this one. It's a hard money deal and someone is going to have to have alot of researves. The problem is that it is not finished. So no A/B/C lender will touch it. But now it is too far done for a new construction loan. Your best bet is to market it to builders or investers. I would definately grab it if it were closer and I could finish it myself. Is the selling price the same as the what is owed?

May 15, 2007 06:13 AM

Carl Guild

Carl Guild & Associates - East Hampton, CT

Central Connecticut Real Estate

Hi Chuck- actually nothing is owed. It is owned free and clear - It is currently under deposit and the buyers are using a Construction Rehab Loan. I did market it to investors and builders and did receive some offers, none of which were accepted. I would have loved to finish it myself as well- Check out the view!

http://www.carlguild.com/73lake.html

We are also accepting back up offers! :)

73 Lake

May 27, 2007 01:28 PM

Anonymous

jeff

Is this house still on deposit?

Jun 14, 2007 05:34 AM

Carl Guild

Carl Guild & Associates - East Hampton, CT

Central Connecticut Real Estate

Yes Jeff - It is still on Deposit - we are accepting back-up offers if this deal falls through, but I also specialize in this type of property if you are looking for something similar to this. Give me a call or drop me an email. I can help you find what your looking for! 860-539-5373

Jun 14, 2007 06:47 AM

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