Tag: Auctions

Off Market Investment Properties – June 7, 2017

My partners and I have access to off-Market Properties from one of the largest Financial Lenders in the Unites States.  Their Asset Manager will supply us with lists of homes 3 days before they are distributed to local asset managers for public listings.

I know 3 days is a short period but we have already sold dozens of this properties in our first run tests.  Three days lead for off-market properties is better than zero day leads.

Our information:

  1.  Get on our mailing list by emailing InvestSWFL@gmail.com.  Subject: Off Market Property.
  2. The list will be emailed to you the morning the list is generated.
  3. Prices on list are Reserve Prices the Funders will take.  Very rarely is the price discounted.  Sometimes, we can get discount for package purchase.

 

Procedure:

  1.  Submit Letter of Intent (LOI) listing offer, specific property address, 7 day inspection period and any conditions.
  2. Include 4% of Purchase Price as Buyer Premium
  3. Principals Only – if represented by Real Estate Agent, Buyer pays their commission.
  4. Email offer to InvestSWFL@gmail.com.
  5. Treat offer as if in Multiple Offer situation.  Submit “As-Is offer, Highest and Best”
  6. Reminder: LOI is not a contract but a negotiation tool showing your interest in a property.

 

Currently, most of the properties are in Florida.  We have both residential and commercial properties.

Current list example:

The first price is the Bank Price. Next is After Repair Value. i.e. $320,000 is price from Bank and this property is valued at $400,000 after repairs completed.

Tampa FL 33609 5 2 2111 $ 320,000.00 $ 400,000.00 Vacant
Tampa FL 33604 3 2 772 $ 55,000.00 $ 75,000.00 $ 800.00
Tampa FL 33610 4 3 2413 $ 73,000.00 $ 175,000.00 Vacant
St Pete FL 33713 2 1 788 $ 80,000.00 $ 150,000.00 Vacant
Tampa FL 33612 4 2 1404 $ 75,000.00 $ 145,000.00 Vacant
Tampa FL 33614 1 1 684 $ 48,000.00 $ 62,000.00 Vacant
Temple Terrace FL 33617 3 2 1776 $ 120,000.00 $ 200,000.00 Vacant
Tampa FL 33604 4 2 2268 $ 59,000.00 $ 120,000.00
Tampa FL 33604 2 2 1540 $ 79,000.00 $ 125,000.00 Vacant
St Pete FL 33705 3 2 1896 $ 195,000.00 $ 320,000.00 Vacant
Brandon FL 33511 3 1 1232 $ 160,000.00 $ 360,000.00 Vacant
Clearwater FL 33756 4 3 2459 $230, 000 $ 400,000.00
Bellair Bluffs FL 33770 4 2 1800 $ 185,000.00 $ 2,400.00
Tampa FL 33603 4 3.5 1566 $230,000 $ 350,000.00 $ 2,300.00
Tampa FL 33603 3 1 1374 $ 225,000.00 $ 300,000.00 $ 2,000.00
Temple Terrace FL 33617 2 3 2562 $ 175,000.00 $ 300,000.00
Lighthouse FL 33064 5 4 4071 $ 1,150,000.00 $ 1,450,000.00
Lighthouse FL 33064 3 2 3475 $ 1,275,000.00 $ 1,650,000.00

Email InvestSWFL@gmail.com or text 239-770-6250 to get on the mailing list or for more info.

 

 

Latest Auction Properties – Florida

These properties do not last long, sometimes only hours.  For more information, please email me at InvestSWFL@gmail and I will have Crystal Snyder contact you directly.  In Subject, write “Auction Property 7-22”.

301 Lotus Path, Clearwater FL 33756
-5 bedroom
-6bathroom
-6791 sqft
-pool

This property sits across the street from the beach. It will need some updating and work. We just obtained the property from auction so I have not had a chance to get my contractor in there for n exact rehab estimate but we do estimate a $200,000 rehab based on updating and rehab that would be needed according to the comps.

The best comp that we have found is 327 Lotus Path. It’s just a few houses down the street from subject.
327 lotus path features
-4bedrooms
-5.5 bathrooms
-4370 sqft

This property sold for $920,000 on 5/4/2016 at $210sqft. This property was quite dated when sold.

As stated before, this property was obtained from an auction. It was listed on the MLS for $755,300. At auction, we were bid to $976,000 however I am able to pull this price down a little through my contacts at the bank. I am currently working on pulling it down and feel I can get it near $790,000-$800,000.
So, we feel the break down is  this-
Purchase price-$800k
Rehab-$225k(cushion for the unseen)
Closing cost-$40k(both front end and back end closing cost)
Realtor fees-$78,000
Holding cost-50,000

Based on the neighbor we can sell the home at $210 x 6791sqft =$1,426,000. Of course, you want a quick sale so we suggest selling at $1,350,000.

With all the cost you are looking at spending a possible amount of $1,193,000. Selling at our suggested below market price of $1,350,000 should net you a profit of $157,000.

Terms-due diligence to be done upfront. Buyer pays closing and buyer agent fees (I included the front end closing cost in the above-mentioned calculation), cash closing in 2-3 weeks.

Crystal Snyder

2285 Chilcote Ter Port Charlotte FL 33981

Features:
– on the river
-3 bedroom
-2 bathroom
-1898sqft
-pool

Needs some rehab. Tax assessed at $327k.
Asking $350k

according to our comp at:
2440 quail ter which features
-2/2 on the river
-1318 sqft
-11 years older than subject
– sold at $350k in 3/2016
Using sqft comps from the comparable subject has a value of $510k. Taking into account that subject is newer our local agent placed retail value at $550K after rehab.

Terms of sale- buyers pay closing and buyer agent. 2 week cash close and due diligence to be done upfront. We will choose the title company and this will be a double closing. HUD will be furnished before being fully executed.

12468 Nw 19th Pl, Coral Springs, FL 33071

6 Beds
1 Half Bath
5 Full Baths
Size: 5,087 Sq. Ft.
Built in 1996

Deck/Patio, Backyard, Garage, Swimming Pool, Air Conditioning and Heating

Custom built Mediterranean style home in the Greens of Eagle Trace subdivision. Built in 1997, this home is located on a cul de sac and offers 6 bed, 5.5 baths with 4793 square feet of living space, and an attached 3 car garage. The curb appeal consists of palm trees and grand columns as you pull into the circle driveway. Walk into the foyer with tall ceilings and hardwood floors for a beautiful entrance. New flooring would be a nice upgrade to this property. There is a white stone floor to ceiling fireplace off the kitchen. The kitchen is huge, ample storage, prep space, center island and breakfast bar. Off the living room and some bedrooms is access to the screened in back patio. In the backyard, you will find an in-ground pool. Needs some updating through out. This property is pending through the auction and was bid to $711k. Tax assessed value is $874k. With my expertise on auctions and connections as well, I can bring this property back down and let it go for $680k OBO.
Terms of sale- buyer pay closing and buyer agent. 2 week cash close and due diligence to be done upfront. We will choose the title company and this will be a double closing. HUD will be furnished before going fully executed.

16647 112th Trail N, Jupiter FL 33478

Features:
-2.5 acres
-pool
-3 bedroom
-2bathroom
-4730 sqft
-2 kitchens
In need of an estimated 55k in rehab. Most recent company we could find is at
16840 113th Trail N and is only $365 sqft smaller and sold for $650k on 10/1/2015. This property would make a great investment opportunity.

Price-$275,000

Terms of sale- buyers pay closing and buyer agent. 2 week cash close and due diligence to be done upfront. We will choose the title company and this will be a double closing. HUD will be furnished before going fully executed.

9641 NW 28th st in Hollywood,FL 33024
-4bed
-4bath
-3846 sqft.
Will need rehab. Property sits on the water in Lake Maranatha Estates. The neighbor to this house is currently for sale at 2.2mm and another neighbor just sold for $625,000 and was 1500sqft smaller than subject. According to the comps this home is worth $914,000 and we r asking $575,000.

Sale Price-$575,000

Terms- 2 week cash close, due diligence to be done upfront, buyer pays closing and buyer agent. This will be a double close done by seller selected title company and a Pre- HUD will be furnished before fully executed contract.

4431 Ortega Blvd Jacksonville, FL 32210

Features-
-6083sqft
-on St. John’s River
-large pool
-6 bedrooms
-5.5 bathrooms
-chefs kitchen

It does need some rehab. This property was sold in 2006 for $3.7mm. There are no recent sold comps in the neighborhood but there are 2 houses for sale.
4105 Ortega Blvd at 2.95mm and 4805sqft
4115 Ortega Blvd at 3.39mm and 5881sqft

This property would make a great investment.

Price-$1,750,000

Terms-Terms of sale- buyer pays closing and buyer agent. 2 week cash close and due diligence to be done upfront. We will choose the title company and this will be a double closing. HUD will be furnished before going fully executed.
805 19th st west Palm Beach, FL 33407

It features
-4 apartments each 2 bed with 1 bathroom
-2916 sqft

Does need rehab. Asking $170,000

Terms- 2 week cash close, due diligence to be done upfront, buyer pays closing and buyer agent. This will be a double close done by seller selected title company and a Pre- HUD will be furnished before a fully executed contract.

Crystal Snyder

 

Income Properties in Other States by Auction, Part 3 of 3

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Specific Links for properties:

5807 Staysail Court, Cape Harbour, Cape Coral, Florida

1222 SW 51st Street, Cape Coral, Florida

 

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

Open Houses – Meet the Auctioneer, Part 2 of 3

Two Luxury Waterfront Properties in Cape Coral, Florida are being auctioned on June 8 and June 9.  The auction will be online and can be viewed through a virtual tour prior to the auction.  Bidders must be registered to bid on these fantastic properties.

The open houses will have the local Listing Agent as well as the Auctioneer in attendance.  Even if you cannot attend in person, call us and view the virtual tour.

 

Open House 2:

1222 Sw 51st Street
Cape Coral

Open House – Sunday, June 5, 1:00 pm to 4:00 pm

Online Auction ends June 8 at 2:00 pm

download (4)

$375,000 Starting Bid

Key Features

• Completely remodeled
• 4 Bedrooms, 4 Bathrooms
• New kitchen with Stainless appliances and “soft close” drawers
• Waterfront with Gulf Access
• Swimming pool in Courtyard
• 800+ square feet added during remodel
• Quiet cul-de-sac neighborhood

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

Last Pre-Auction Open Houses – Part 1 of 3

Two Luxury Waterfront Properties in Cape Coral, Florida are being auctioned on June 8 and June 9.  The auction will be online and can be viewed through a virtual tour prior to the auction.  Bidders must be registered to bid on these fantastic properties.

The open houses will have the local Listing Agent as well as the Auctioneer in attendance.  Even if you cannot attend in person, call us and view the virtual tour.

Open House 1:

5807 Staysail Court
Cape Harbour, Cape Coral, FL

Open House – Saturday, June 4 10:00 am to 1:00 pm

Online Auction ends June 9 at 2:00 pm

download

Price: $1.4 Million starting bid

Key Features
• Located in prestigious Cape Harbour
• 4 Bedrooms, 7 1/2 bathrooms, +Efficiency apartment
• Waterfront, Gulf access Pool Home
• Completely renovated
• Wine Room
• Tiki Bar in pool
• Steam shower
• Dry Cleaning cabinet

Information Link:  http://www.capecoralauction.com/

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

 

Florida Luxury Properties Auction

Both of these Luxury properties are being auctioned.  Both are Luxury, waterfront pool home in Cape Coral, FL.  If in Florida, please call to schedule an appointment or visit the last scheduled pre-Auction open houses.  Both the listing agent and the auctioneer will be available at the open houses scheduled June 4 and June 5. Complete information and registration packets are available by emailing InvestSWFL@gmail.com

 

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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