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Category: Neighbors Healing Neighborhoods
Motivational Monday – Nov. 9, 2015
Buy Houses “As Seen on TV!”
I’ve always wanted to say that! Really though, we have all seen the dozens of TV shows where houses are bought under market value. The Buyers put “sweat equity” into the rehab to save money and then they have two options, sell it for profit or rent for cash flow.
I have two properties in North Ft. Myers that could work for these scenarios. I have started the rehabs on both but need to sell to move to a larger project.
One is a 2 bedroom, one bathroom, one garage house that needs about $5000 to $7000 to finish. Depending on the rehab,
there can be 12 to 15% profit.
The second is a 3 bedroom, 3 bathroom, in-ground vinyl pool house near a high school and swim club. This house needs about $20,000 in rehab and a possible profit of 15% or higher,
Both are under $90,000, as a matter of fact, one is under $60,000. (The more work I put in, the higher the price.) The predicted profit is dependent on how much is spent on rehab and if you can sell under market value. A lot of sweat equity, keeping 
costs to a minimum and deciding to hold or sell will all affect the profit. The profit figures are not guaranteed. Your planning and rehab decisions will affect your profit. We are in a sellers’ market, take advantage of it to flip these houses.
Make an appointment to see these houses now! Houses under $100,000 are getting harder and harder to find in Fort Myers.
Mike Cathell,
Broker/Owner, Investment Property Consultant
Real Estate Services of SWFL, LLC
Cell: (239) 770-6250 Fax: (239) 288-2505
Email: InvestSWFL@gmail.com
Natural Foods Icon Seeking Lender to Realize the Dream Again!
For over 15 years, my client was an Icon in the Natural Foods Industry. He left his business and dream, in the hands of a manager for several years when he took a leave to be with a seriously ill family member. He returned to find he had been forced from the business. Long story but not needed here.
He is ready to return to the Natural Foods Supermarket arena that he drove for many years. His new dream needs help from an Investor. Reasons to get involved:
- His staff which included certified nutritional experts will return!
- His chef, who is Nationally known and the owner of a Natural Foods Restaurant, will return!
- Over 300 of his vendors will ship product with no money down and 30-90 billing based on his reputation and past performance.
- A nutritional company has offered to label an entire product line with his company name.
- Past performance (included in our package) a 17% cap rate and growth up to 20% yearly.
His new Dream will create new jobs in SW Florida. Support of local charities and children’s education groups. will be an integral part of the business again. Unique ideas will be obvious to shoppers including an in-store greenhouse to grow produce organically that will be harvested right to the shelves of the market!
Timing is everything! Interest in Natural, Healthy Foods is growing exponentially just as our population in SW Florida is also growing exponentially.
He is seeking Angel Investors or Private money Lenders for a $925,000 loan. He is willing to pay compound interest with a 3 1/2 year payoff. A small equity share may also be available for a few years. The package shows examples of his past financial success, his plans for a new Natural Foods Supermarket and his projected growth. Email InvestSWFL@gmail.com for a Non-disclosure, Non-circumvention Agreement. The entire package will be emailed to you as well an invitation to talk directly to this SW Florida Icon ready to return.
Mike Cathell,
Broker/Owner, Investment Property Consultant
Real Estate Services of SWFL, LLC
Cell: (239) 770-6250 Fax: (239) 288-2505
Email: InvestSWFL@gmail.com
Here’s to the Year of Financial Freedom!
Mike Cathell,
Broker/Owner, Investment Property Consultant
Real Estate Services of SWFL, LLC
Cell: (239) 770-6250 Fax: (239) 288-2505
Email: InvestSWFL@gmail.com
Investors Needed for Neighbors Healing Neighborhoods
Our Real Estate team locates homes under $200,000 that are 40 — 60% below market value in SW Florida. Our Investors purchase the properties alone or as our equity partners. Our company has several teams of experienced rehabbers that provide quality work quickly, efficiently and economically. Our team has years combined experience and have hundreds of HUD statements to show our ability to close properties.
Florida was one of the areas hit hardest with the Real Estate Downturn several years ago. Prices have increased as high as 26% over last year’s pricing in some areas. Rental occupancy and rental prices are at an all-time high due to the past economy forcing homeowners into rentals, the large number of retirees moving to Florida and the efforts of Economic Counsels attracting companies to SW Florida with tax advantages.
Our Real Estate Team finds, interviews and qualifies prospects for our “lease-to-own” program. We currently have a waiting list of applicants just from word of mouth referrals. If qualified prospects do not need to be placed immediately, we even take them with us to find the house and neighborhood they desire for their families.
Our Investors purchase the homes below market value. Tenants sign a contract for deed with the owners’ that allows them to apply for FHA loans when eligible for refinancing. The tenant is required to participate in a credit counseling program. The time periods of the contract for the tenants to refinance range from 6 — 24 months with a discount on the price for early payoffs to Investors.
We have over 125 years combined experience in buying below market houses, rehabbing, and either flipping or renting those properties. We have several Joint Venture programs that can pay an individual Property Investor up to 60% equity. Larger funds will receive a minimum 15% equity share.
Contact us at InvestSWFL@gmail.com for Non-disclosure/Non-circumvent Agreement to receive our entire package. In subject line type “RE: NHN”.
Mike Cathell,
Broker/Owner, Investment Property Consultant
Real Estate Solutions of SWFL, LLC
Cell: (239) 770-6250 Fax: (239) 288-2505
Email: InvestSWFL@gmail.com
Don’t Forget the True Meaning of Today
Investing in Section 8 Properties
The Section 8 program was enacted in 1974 by Congress to provide rent assistance to low income families. Tenants usually pay 30% of their income towards rent and the balance is subsidized by the Federal funds. The program is governed by the Department of Housing and Urban Development (HUD).
To be eligible for a Section 8 voucher, the renters’ income needs to be 50% of the median family income in their area. Applicants should be US citizens with a few exceptions. Individuals with a criminal background or a previous eviction history are automatically disqualified.
For the Housing to be eligible, it must comply with HUD Housing Quality Standards which basically ensure a safe and sanitary housing space. The Housing Authority will inspect the unit at no charge. The landlord can advertise the unit using normal venues or on sites that are specific to Section 8 housing.
One of the benefits of renting to a Section 8 family is the lease must be a one year lease that is applicable to rental laws. If the tenant violates this lease, you can take action as allowed by federal, state and local laws. The tenant runs the risk of HUD revoking the assistance voucher which will hopefully ensure the rent being paid.
The subsidized amount of the rent is paid by the Housing Authority directly to the landlord, not the tenant. The participant then pays the balance of the rent to the landlord. In some instances, the family can even apply their voucher to a modest home purchase.
A similar program is offered through the HUD-Veterans Affairs Supportive Housing program for rental assistance to homeless veterans with disabilities. The VA also adds assists with case management and clinical services for the participants. The current administration is making a concentrated effort to provide Veterans with the earned care and benefits to live productive lives.
Both programs allow landlords to place individuals in their properties with guaranteed rents. All tenants must meet eligibility requirements as well as required background checks. Placing Section 8 tenants requires working through the “infamous Red Tape” the first few times possibly but the rewards are worth the time and effort. Your property is almost ensured a tenant since all offices have waiting lists plus you can feel good about yourself by helping these low income families and disabled Veterans.
Lease to Own Instead of Renting
Renters and Home Owners are always working towards paying off a mortgage. The difference? Owners are paying their own mortgage and Renters are paying the Owner’s mortgage also. Years ago, a friend of mine told me that paying rent was like throwing your money down a black hole.
If you are tired of throwing money down “that black hole”, we have a unique plan to turn renters to house owners. Our Neighbors Healing Neighborhoods program works with Investors that want renters to experience the dream of home ownership for the first time or again if the victim of the past economy.
The program is fairly simple:
- Make an appointment to talk with one of our agents to discuss where you want to live, what type of house interests you and what your five year plan is to get your “Dream” Home.
- Next, our agents work with you to establish what you can afford now.
- This step requires a bit of time doing research with our agents. Drive the neighborhoods to look for the house that is affordable and comes closest to the features you would like in your house.
- Once the right house is found, our negotiators and Investors go to work to get the best price for the house. If everything meets our Investors parameters, they purchase the house and do the rehab.
- With a low down payment, the family can move into the house as renters. The downpayment is kept in an account to be used as part of the down payment.
- Part of the monthly rental will also go into the account to be added to the down payment amount.
- The tenant will sign a purchase agreement for the house to be closed in 12 or 24 months, whichever works best for all parties.
This program has been designed with two goals in mind. First we want to help displaced home owners and new buyers to experience the American dream of home ownership. The second goal is to rebuild the neighborhoods in SW Florida. It’s a win-win-win scenario for the future homeowner, the Investor and the neighborhood!
Mike Cathell,
Broker/Owner, Investment Property Consultant
Real Estate Services of SWFL, LLC
Cell: (239) 770-6250
Email: InvestSWFL@gmail.com
Neighbors Healing Neighborhoods Needs Investors!
Neighbors Healing Neighborhoods is a program that is of special interest to our group. The plan is to “Heal” neighborhoods hit hard the past few years leaving families upside down in their houses. If there is only one mortgage, we negotiate a short sale for the family. If there are 2 mortgages from different banks, we can sometimes help the family out of the foreclosure process all together.
Our group is finding properties for a lease to own program for families and individuals who lost their home during the financial crisis of the past few years. We find abandoned houses and rehab them to become someone’s home. A family can lease the properties for up to 3 years with a chance to refinance and buy the house at the end of the lease.
The group has been closing on 4 to 6 houses a month but we have a waiting list of families wanting to be part of this program. I need Property Investors to assist in the program. You can live any where in the world and participate here in SW Florida which is a great market for Investors.
Our properties are purchased for between 40-60% below market value. We have a rehab group that turns these homes from the “worst house in the neighborhood” to an affordable Dream home for a family. We will show new Investors our program and do a Joint Venture with the Investor also.
So whether you are a new, a novice or an experienced Investor, we need help buying more homes. Purchase under market and flip or rent to help Our Neighbors get their life back. A win-win for all!
Mike Cathell,
Broker/Owner, Investment Property Consultant
Real Estate Services of SWFL, LLC
Cell: (239) 770-6250
Email: InvestSWFL@gmail.com
Investment Property Strategies 