Tag: Florida

Florida Commercial Investment Properties

1) Boca Raton, FL 33498

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40,000 SQ FT
 2.5 Acres lot
 Ample parking
 Free Standing Bldg
 Renovated
 50% executive & 50% professional offices
 Professional offices have their own folio numbers
 Nice designed 2 stories property with front and rear entrances
 Class A interior finishes | Outside seating areas | Well maintained with attractive                landscaping
 This property offers a first class service designed true ambiance
 Conveniently located next to the busy Glades & 441 intersection, close to the Florida Turnpike, Town Center Mall, Restaurants, Shopping & Boca West Hospital. Near Deerfield Beach & Delray Beach, within 30 minutes of 2 major airports
2) Boynton Beach, FL 33498

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15,262 SQFT
 2.29 Acres lot
 Ample parking
 Room for expansion
 Renovated
 100% Executive offices
 Nice designed property. This property offers a first class service designed true ambiance
 Well maintained with attractive landscaping | Class A interior finishes
 Conveniently located less than 1 mile west of I-95, walking distance to downtown               Boynton area (Congress Ave) with lots of Restaurants & Shopping. 15 Minutes from           Palm Beach Airport
Total price for both properties: $11.5 M + Fees Payable By Buyer
  • Total CAP: 7%
  • Occupancy: 100%
  • 2017 NOI: $798 K
   These 2 properties are sold on a NNN master lease with annual increases of
3.5%. There are approximately 11 years left on the lease. The master lease can be
canceled at any time with a 60 days notice

Mike Cathell,
Broker/Owner, Investment Property Consultant

Real Estate Services of SWFL, LLC
Real Estate Services of Citrus County, LLC

Cell:  (239) 770-6250   Fax:  (239) 288-2505
Email:  InvestSWFL@gmail.com
 
#Florida Real Estate     #Cape Coral Real Estate    #Fort Myers Real Estate
#Real Estate Investing   #Property Investments   #Wholesale Properties
#Wholesale Florida Properties  #Commercial Real Estate Funding
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Never Forget, Freedom is not Free

Please, Remember all of those who have, are or will serve to protect your Freedom..

 

Memorial Day

Tips For Soaking Up the Sunshine State As a Florida Resident?

sunbathing

Hello Valued Friends & Colleagues!

Many snowbirds are now returning to Southwest Florida, and someone in my “Circle of Trust” suggested that it would be a good idea to write about the advantages of Florida residency.

To establish Florida as your “primary residence” you need to reside in Florida for a minimum of 6 months and this isn’t necessarily contiguous time in the State. This 6 month rule simply means that you intend to live at least 6 months and 1 day total in the State of Florida in order to meet the residency requirement. That said, the practical truth is that you can travel is much as you want so this may be more of an intent question than anything else, particularly, if you own a residence in another state.

There are a few other steps that can be taken to solidify your Florida residency status which are:

• Obtain a Florida driver’s license
• Register to vote
• File a Declaration of Domicile with the county Clerk of Courts
• File for the Homestead Exemption
• Focus one’s major affairs and relationships in Florida

Some financial advantages that you can realize from making the switch to Florida residency are:

1. No state income tax
2. No state estate or death tax
3. 100% Homestead protection secured by the Florida Constitution
4. Florida Save Our Home Act which exempts a portion of the homestead from taxes and limits property tax increases to 3% per year
5. Broad asset protection laws such as Tenancies by the Entirety for married couples

There are also favorable asset protection laws in Florida concerning the protection of life insurance an annuities for Florida residents pursuant to Florida Statutes.

Another common question that arises concerning changes in residency is whether your estate planning documents should be updated? The short answer is they need to be reviewed as soon as possible following your residency change to determine whether they are enforceable under Florida law. Any review of your estate planning documents would include your revocable living trusts, powers of attorney, and medical advance directives and guardianship declarations.

Another common issue that arises is making sure that your real property in other states is held or “titled” in your Florida trust in order to avoid the possibility of multiple probates. Many who relocate to Florida often still own real property up north and upon death this can present substantial problems for families who are often forced to open a probate in that northern state while also managing a possible probate in Florida. In many cases, one probate can hold up the other and any probate can hold up the sale of real property or the distribution of other assets.

Finally, if you own a company and decide to make Florida your state of residency, there may be advantages in registering your LLC or Corporation in Florida due to the favorable state tax laws.

So this can be an interesting possibility offering many potential benefits and I hope this helps you by giving you a checklist of options and considerations.

Until next time friends…enjoy the Florida sunshine.

SJG

____________________________________________________________

Steven J. Gibbs was admitted to the Minnesota Bar in 1999, the Florida Bar in 2007 and was recently admitted to the California bar. Keeping abreast of law changes in these three States, as well as the United States, assists him in all aspects of the types of law the firm practices.

Along his career path, he 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 Vice President for North American Properties where he was responsible for various real estate transactions, including legal issues and negotiating unresolved business issues.  Prior to opening Gibbs Law Office, PLLC, he was an associate with the firm of Roberts & Engvalson, P.A. where he gained his knowledge of trusts, estate planing and Wills.  He opened his own firm in 2008 and now focuses on laws that will enrich the needs of his clients throughout their lives and those of their children.  The firm has developed a practice dealing only with Trusts and Estate Planning, Wills, Medicaid Planning, Elder Law, Real Estate, Business Law and Probate.

Quoting from Steve “I decided to practice in areas that families will need as they progress down life’s path.  To help them with a solid foundation that will carry them throughout there lives is a rewarding experience for me and my staff.”

Real Estate Investment Predictions

I continually watch online trends, read Real estate blogs, go to Networking groups as well as just drive around my area to observe and discuss what is happening in Real Estate.  Once a year, I make my predictions of where the best upcoming Real Estate niches are for investors.  These are the areas I will be moving my client base towards.

Student housing –  As the father of 3 currently enrolled college students, Student housing is at the top of my list.  my children are attending college in 3 very different cities in Florida but all have the same problem.  Finding quality housing that is close to their respective closets.  as colleges become more crowded, the need for off campus housing is growing.  I have written about unique ways to attract students (and their parents) to a more upscale house for their housing.

Retail and Warehouse condos – Two different factors are pushing these particular niches.  The first is the improvement of the economy in the areas that were hit hardest in the economy drop a few years ago.  Financial assistance has been put into these areas to help bring back economic growth.  The second factor is the movement of retirees to the Sun Belt, especially Florida.  The new Retirees, or Baby Boomers, are a different type of retiree.  They are down-sizing, moving to warmer climates and starting a small business.  They are not content to just sit on the porch.

Self-Storage – As with the above group, as boomers downsize and move, they need to store the furniture and belongings they can no linger fit in their smaller homes but are not quite ready to be given up.  Also, these same retirees are turning their hobbies into cottage industries and need a place to store their supplies and products away from their homes.newconstructionsaw

New Home Construction – Once again, the Boomers are driving this part of the Real Estate investment market.  The new retirees have worked long and hard to reach this time in their lives.  They do not want to purchase “someone else’s” house and potential problems.  They are finally buying building their Dream Homes.  Building permits are being pulled in larger numbers.  If the Investor is not ready to retire, these homes can become income properties.  They can be rented to new retirees and families relocating to an area or the can be leased back to the Builders looking for model homes.

Keep coming back for more updates, I will be adding more professionals in the Real Estate business soon.

Mike Cathell,
Broker/Owner, Investment Property Consultant
Real Estate Solutions of SWFL, LLC

Cell:  (239) 770-6250   Fax:  (239) 220-5508
Email:  InvestSWFL@gmail.com

 

Investment Opportunity – Single Family Home Development Site

This week a Realtor friend brought me information on a great Investment Opportunity in Cape Coral, FL.  This is in an area made desirable through road widening projects, attracting a Commercial and Retail base and the increased home prices,

I have two recent blogs that describe the increase in home prices and building permits nationally and locally.

Real Estate and New Construction Link

New Construction in SW Florida on the Rise

The property called Bella Vista is located in NW Cape Coral, Florida on Kismet Parkway.  The features include:

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  • 54 acres with 2 beautiful man-made Lakes
  • Wooded Conservation Areas
  • Infrastructure in place
  • Ready for development
  • Development Order
  • Water management Permit
  • Home Owners Association
  • Residential Plat Approved
  • 28 half-acre home sites
  • Roads, Gate, Electrical, Lighting, Irrigation and Landscaping in place

Asking Price reduced for quick sale:  $1,500,000

Seeking principal investors.  If investor represented by real estate agent, Buyer pays agent commission.

I am working with a Builder that does Ultra high energy-efficient homes that would be perfect for this development if interested.

Email me at InvestSWFL@gmail for a non-disclosure statement and I will send more information on this development.

Mike Cathell,
Broker/Owner, Investment Property Consultant
Real Estate Solutions of SWFL, LLC

Cell:  (239) 770-6250   Fax:  (239) 220-5508
Email:  InvestSWFL@gmail.com
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