Tag: Florida Bar

Off Market Multi-Family Properties

Many of these properties are sold within hours of posting!
REDUCED!!!
 
BUY IT NOW $739,000
 
DEALING DIRECT WITH SELLER
24 Unit Apartment Building

SEBRING, FLORIDA

YOU DON’T HAVE TO SPEND $1.00 IN REHAB

BUY IT AND SIT BACK AND COLLECT RENTS

REDUCED!! NOW ONLY $739,000

24 units building with 100% occupancy. All units have been renovated, title floors, roll roof, central water/sewer. ALL utilities paid by tenants.
*Concrete block construction.
*Prime location.
*Clear title.
*Cash sale.
Bedrooms: 24  l  Bathroom  24  l  Bldg size:11,880 sf
 
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REDUCED
 
BUY IT NOW $920,000
 
BUY  53 UNITS IN 2 BUILDINGS

1050 W. Palm Beach Road South Bay, FL 33493
 
Units renting at $650.00 per month. Do the math!!!
LEASES IN PLACE


 
53 UNITS
CALL FOR ADD’L INFORMATION
NOW REDUCED!!
$920,000
 Only a quick closing will take this deal.
If you are not ready to move as specified please don’t waste your time.
 
SELLER HAS REMODELED APPRX. 20 UNITS
ALL WORK DONE WITH PERMITS
 
RENT ROLLS/ADDITIONAL FINANCIAL INFORMATION AVAILABLE TO QUALIFIED BUYERS
 
 
1050 W Palm Beach Road, South bay, FL 33493
2 Buildings With 54 Units in Total.
 
Building 1 Has 28 Units all 2 Bed 1 Bath, 20 Units are Fully Renovated and Rented at $650 and The Other 8 Units Needs Renovation Completed Estimate $2,000 – $3,000 Per Unit to Finish. Guaranteed you won’t have to spend $3,000 on but a few of these units. 
 
Building 2 Has 27 Units, 26 Units are 1 Bed 1 Bath Efficiency and one 3 Bed 1 Bath Unit. Building 2 needs Full Renovations in Each Unit. Everything Has Been Done With Permits. This Will Generate 10% + Cap Once Renovated.
_________________________________________________________________________________
 
REDUCED!!!
 
BUY IT NOW $995,000
 
1025 13 ST. WEST PALM BEACH, FL.
OFF MARKET
10 TURN KEY UNITS
COMPLETELY REMODELED
TWO 3/1’S & EIGHT 2/1’S
RENTAL INCOME: $11,000 MONTHLY
10%+ CAP RATE
LONG TERM TENANTS
 

Asking:  $995,000 
CALL FOR ADDITIONAL INFORMATION, COMPS & FINANCIALS
         BUY IT, CLOSE IT AND COLLECT $11,000 EACH & EVERY MONTH
 
CALL FOR INFO. & FINANCIALS ON 6 ADD’L WPB MULTI-FAMILIES
                                  ALL OWNED BY THE SAME SELLER
 
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REDUCED!!!
 
24 UNITS IN JACKSONVILLE
 
BUY IT NOW $720,000
 

Just wanted to let you know about the HUGE price drop on this off-market deal in Jacksonville– Need to sell it fast!

Buy it now at a 12% CAP and start collecting cash flow immediately,  make some cosmetic improvements, increase rents and hold or sell it at about 8% cap for a nice profit!

Let me know if there is any serious interest.  Cash offers only please. 

 
                                                                                   DESCRIPTION:

  • 24 units, 2 two-story buildings on East side of Jacksonville (a B location)
  • Solid CBS construction with flat shingle roof
  • Below market rents
  • All units are 1 bed, 1 bath.
  • 95% occupancy
  • Guaranteed Income via HUD-VASH Program for most tenants
  • Laundry room additional income
  • Units independently metered
  • Located in desirable South Riverside area near desirable San Marco area in Jacksonville, FL  Needs TLC
 
Property Type: Multifamily
Property Sub-type: Garden/Low-Rise
No. of Buildings: 2
No. of Stories: 2
Year Built : 1964
Building Size: 17,575 SF
Construction: CBS
 
Unit Mix
One-bedroom, One bath: 24 Units
Occupancy: 95%
 
Actual NOI: $86,952
 
NEW Purchase Price: $725,000 NET (was $860,000)
Low Price per Unit: $30,208
Cap Rate: 12%
 
TERMS:
 
Must be ready to close Fast!
Cash Offers only
10% Earnest money
7 day inspection period max.
Possible Seller Financing
____________________________________________________________________________________

Email:   InvestSWFL@gmail.com FOR OUR LATEST LIST OF OFF MARKET SFH’S & MULTI FAMILY PROPERTIES.  NEW  PROPERTIES ARRIVE DAILY.
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Asset Protection and Estate Planning

Lrgal Mumbo JumboDoes your estate plan include measures for protecting your assets against taxes and creditors? It should! Asset protection and estate planning are Siamese twins of a sort. While asset protection includes safeguarding your finances in the event of a foreclosure, bankruptcy filing or civil lawsuit, it also entails placing your assets in the proper legal format so as to avoid hefty estate taxes and protect your heirs from having to pay exorbitant inheritance taxes. So in that respect, asset protection is an important part of your estate planning. Likewise, proper estate planning takes into account the disposition of your assets upon your death, and has as its goal the protection of your assets against devaluation by estate and inheritance taxes, as well as protecting your assets against creditors.

Establishing a trust is the most popular form of asset protection. Your estate planning attorney should be well-versed in the various forms of trusts and should explain to you which ones actually protect your assets. Not all do. For instance, a revocable living trust will provide for someone to carry on your financial matters in the event you are mentally incapacitated; and in the event of your death it will most likely enable your estate to avoid being probated (there are extenuating circumstances such as individual state laws which require a probate proceeding in order to obtain state estate tax waivers, cut off creditors’ rights, secure a homestead determination for a primary residence, and/or limit the time that a challenge can be made to the trust.) By avoiding probate, a revocable trust keeps all your financial matters private, out of the public record. But probate can only be avoided if your trust is fully funded – if all your assets have been properly re-titled and your insurance policies kept up to date with beneficiary designations.

Nor does a revocable living trust protect your assets from creditors. For that you need to establish an irrevocable trust. An irrevocable trust can be created by signed agreement or it can be established according to the terms of a revocable trust upon the death of the Trustmaker. There are many forms an irrevocable trust can take. The primary uses for an irrevocable trust as part of your estate planning is to reduce estate taxes, protect your assets and provide for charitable giving.

A revocable trust can be changed at any time through a trust amendment. If you become dissatisfied with the entire trust, it can be revoked completely or the contents changed entirely through an amendment and restatement. The key is that you still retain control of the trust and its assets. On the other hand, if you transfer assets into an irrevocable trust, you are giving over those assets to the trustee and beneficiaries of the trust so that you no longer own the assets. Therefore, they can’t be taxed when you die, because you no longer own them.

You can still benefit from the assets in an irrevocable trust however. By naming your family as beneficiaries, you can still provide your family with financial support, which is outside the reach of creditors. Some states even have irrevocable trusts called Self-Settled Trusts or Domestic Asset Protection Trusts which offer creditor protection and allow the Trustmaker to be a trust beneficiary.

Choosing the proper form of ownership for an asset can also offer protection against creditors, provide for devaluation of estate taxes and serve as a vehicle for transferring family wealth to the next generation. The limited partnership (LP) and the limited liability company (LLC) are the most common forms. A limited partnership consists of at least one general partner and one limited partner. The general partner is potentially liable for all the obligations of the partnership. The limited partner has limited liability. A limited liability company consists of one or more members which may be individuals, partnerships, limited partnerships, trusts, estates, associations, corporations, other limited liability companies or other business entities. The members of an LLC are afforded limited liability similar to shareholders of a corporation and have pass-through taxes comparable to a partnership.

As you can see, it’s no easy matter to decide without the advice of an attorney. But it’s not something that should be put off. For instance, transferring assets at the start of a civil litigation (or even the hint of one!) with the intent to hinder, delay, or defraud a creditor constitutes a “fraudulent” transfer. There are laws in each state to protect a judgment creditor against such transfers and a court will simply order that the transfers be reversed and the assets turned over to pay off the creditor.

Don’t delay; begin protecting your assets today. Call the Gibbs Law Office at 239-415-7495 for a free initial phone consultation about asset protection strategies.

 

Steven J.Gibbs

8695 College Pkwy Ste. 1358, Fort Myers, FL 33919

Phone: 239-415-7495

Email:  info@gibbslawFl.com

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Gibbs Law Firm – Steven J. Gibbs, Managing Partner

I approach the practice of law from a unique perspective – with experience not only as an attorney, but also as a licensed business broker. I was admitted to the Gibbs Law OfficeMinnesota Bar in 1999 and the Florida Bar in 2007 and am an active member of both. My career path has taken me from judicial law clerk in Minneapolis to associate attorney with the Fort Myers law firm of Roberts & Engvalson, P.A. where I focused on wills, trusts and estate planning; real estate and family law.

Along the way I was an associate attorney for an insurance defense law firm; an in-house real estate negotiator for Target Corporation; and corporate counsel for Civix, LLC and later for North American Properties.

I founded the Gibbs Law Office in January 2009, committed to providing client-centered legal services.

I am also a Florida Licensed Real Estate Broker and have been an active member of the Lee County Bar and the Greater Fort Myers Chamber of Commerce. I have also served as a pro-bono attorney for Florida Rural Legal Services.  I look forward to serving you with excellence.

Steven J.Gibbs

8695 College Pkwy Ste. 1358, Fort Myers, FL 33919

Phone: 239-415-7495

Email:  info@gibbslawFl.com

My website

My Blog

My LinkedIn profile