Tag: Investing

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

Greatest Home Seller in History?

Recently, I was having coffee with a number of my Real Estate peers and the subject of the Saint Joseph Statue was brought up.  I had known about the Statue for some time and have even used it on hard to sell properties.  My parents’ agent used the statue years ago to sell their house.

For those of you unfamiliar with Saint Joseph, he was Jesus of Nazareth’s earthly father.  He was a skilled carpenter and taught his skills to Jesus.  He made sure his family always had a home over their head.  For centuries, people have prayed to St. Joseph when they needed help in finding or selling a home.

Legend has it a group of Nuns in the early 1500’s needed land for their cloister.  They prayed to St. Joseph and then buried St. Joseph medals and continued to pray to him.  Shortly, after their prayers were answered and they received the much needed land.  Their medals were the first “St. Joseph Real Estate Sales Kit”.  Later the medals were replaced with small statues.

St. Joseph Real Estate Sales Kit

Whether you are a believer or not, the Legend is well known in Real Estate circles.  The “Real Estate Sales Kits” are available at many Real Estate Board stores.  Thousands of testimonials are available on online websites that sell the “St. Joseph Sales Kits”.  The statue is buried head down in front of the property.  A daily prayer is recited asking St. Joseph to help.  When the house sells, the owner is to dig up the statue and take it to their new home.  The statue is then buried head up and the blessings follow the family to their new home.

So, if you have a hard to sell property, you may want to look into this historic sales kit.  Will it help?  I can’t say but a little prayer never hurts!

 

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

Lecanto, FL Investment Property

This property is located in Central Florida, northwest of Ocala.  There are 5 mobile homes on the property, 4 2-bedroom and 1 3-bedroom.  The property is 100% rented with rents between $575 to $690 per month.

Approximately, $15,000 was spent on repairs and rehab, including branch removal, trash/furniture removal, abandoned car removal and grounds maintenance.  Rehab has included appliance replacement, leak repair, pest control of buildings and land, painting and some roof repair.  A specific list is available for viewing.

Possible Owner financing available.

Email InvestSWFL@gmail.com for information.

 

Lecanto, Florida info

 

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

Motivational Monday Oct. 6, 2014

Optimism is the faith that leads to achievement.  Nothing can be done without hope and confidence.

– Helen Keller

 

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Is It Really Worth It to Do a 1031 Exchange? Yes!

A common statement we hear from a number of people is “I am not even going to bother doing an exchange.  I’m just going to cash out, pay my 15% and move on.”  What these individuals do not realize is that they could be subject to not only capital gains tax but state tax and depreciation recapture.  It’s no secret that capital gains tax will most likely increase from the current 15% to between 20-30%.  This could pose a big financial burden on taxpayers who sell investment property that has a substantial gain.  Add to that the potential for 25% depreciation recapture and applicable state taxes, and the end result is that the taxpayer ends up paying more in taxes than they anticipated.

During the economic downturn, the number of taxpayers utilizing a 1031 exchange was few and far between.  Investors with fairlyWrite measurable goals new properties had little or no gain to defer.  In fact, a number of properties decreased in value.  These days, it appears that things are starting to come full circle.  More and more investors are utilizing the exchange again to save valuable tax dollars.  Taxpayers with older properties that have significant appreciation are taking advantage of the current prices of real estate.  For example, they are exchanging from vacant land to rental properties, or vice versa.

1031 is a section of the tax code which states that if you sell a piece of business use or investment real estate and purchase another piece of business use or investment real estate, you can defer not only all of capital gains, but also any applicable state and depreciation recapture taxes.  This tax code is geared specifically for the investor.  This means that one cannot exchange a primary or second home.  The property must be held for investment or business use.  The IRS has set forth specific rules to ensuring that the taxpayer has a viable 1031 exchange.  Here are the main rules:

  • The property involved must be held for business or investment use. All real estate is considered like-kind.  In other words, vacant land can be exchanged for commercial property, etc.
  • A Qualified Intermediary (QI) must be used to facilitate the entire transaction.  The QI is an independent third party whose only role is to facilitate the exchange and ensure that the IRS guidelines are followed.  The QI cannot be an agent or relative of the Exchanger (ie.  Attorney, Realtor, CPA, etc.).
  • In order to defer all of the capital gains and any other applicable taxes, the Exchanger must purchase a property that is equal to or greater than the Net Selling Price (NSP) of their relinquished property.  The Net Selling Price is the contract sales price minus Realtor Commissions and title closing costs.
  • The Exchanger has a total of 180 days to complete the exchange.  This means that he or she must close on all intended purchases within 180 days of closing on the sale of the relinquished property.
  • Within the first 45 days of that 180 day period, the Exchanger must identify up to 3 possible replacement properties for the exchange.  Only what has been identified by day 45 will qualify for the exchange.  No revocations or changes can be made once it is beyond the 45th day.

If the taxpayer follows these rules, they can almost guarantee a flawless exchange. An exchange can offer not only substantial tax benefits, but also provide an opportunity to diversify one’s portfolio.  Every situation has its own unique characteristics, so it is very important that taxpayers consult their tax advisors before embarking on a tax-deferred exchange.

1031 Tax Free Strategies has been serving as a Qualified Intermediary for 1031 Exchanges for over 15 years.  Please feel free to contact us anytime at 239.333.1031 with any questions that you may have regarding the exchange process.

 

Written by: Dave Owens, Managing Member of AdvantaIRA Trust, LLC.

My F******g Team – Real Estate Investment Strategies in SW Florida

Now that I have your attention, I want to tell you about my “Flipping” Team.  (What were you thinking?)  The largest fear Out-of-State Investors usually face is finding all the people needed to successfully buy, rehab, sell or lease properties in another state.  Real Estate Services of SWFL, LLC takes all the worry out of this process.

Who do you need to find the deals, rehab the property and find buyers or renters?  Our team has everyone in place to be your team.  Our experienced, licensed members include:

Our members have worked as a team for years offering efficient and professional customer service for our clients.  Every month we receive referral business from past clients.  This is the highest compliment any team can hope to receive.

The advantages of working with a team like ours is the combination of niche specialists all working towards a common goal for our client – a successful Real Estate Transaction.  Each member is highly training in their specific field.  We do not attempt to be a jack-of-all trades but rather professionals who are at the tops of their respected fields.  This group effort assists our clients to a  successful transaction with little heartache and hopefully lots of fun.

working together 2The Real Estate Market in SW Florida is one of the hottest investment markets in the United States.  Contact our team to provide you with worry free Real Estate Property Investments.  Don’t get left behind in this great time to be in Real Estate.

Check our our Team Members by clicking on their profession above.

Mike Cathell,

Broker/Owner, Investment Property Consultant
Real Estate Services of SWFL, LLC

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

Legislation Affecting Real Estate

From National Association of Realtors November, 2013 Newsletter:

Senate 3% Cap Bill Introduced
On October 28, 2013, Senators Joe Manchin (D-WV), Mike Johanns (R-NE), Carl Levin (D-MI), Pat Toomey (R-PA), Debbie Stabenow (D-MI) and Mark Kirk (R-IL) introduced S. 1577: The Mortgage Choice Act. The legislation is identical to H.R. 3211 in the House. It would make adjustments to the Truth in Lending Act’s (TILA) definition of fees and points to ensure greater consumer choice in mortgage and settlement services under the Ability to Repay/Qualified Mortgage (QM) rule. S. 1577 endeavors to restore a competitive market among lenders by clarifying and rationalizing the definition of fees and points to reduce this discrimination. By doing so, S. 1577 will ensure that consumers have greater access to mortgage credit and also more choices in credit providers. Without S. 1577, both choice and access will be severely reduced, affecting countless consumers and those who serve them. NAR is asking both the Senate and House to ensure the legislation is enacted before the QM rule takes effect in Jan. 2014.

Flood Insurance Affordability Bill Introduced
On October 29, 2013, Senators Robert Menendez (D-NJ) and Johnny Isakson (R-GA) introduced the NAR-supported “Homeowner Flood Insurance Affordability Act” (S. 1610), to delay unintended rate increases under the Biggert-Waters law and its implementation. Representatives Michael Grimm (R-NY) and Maxine Waters (D-CA) have introduced an identical bill in the House (H.R. 3370). The bipartisan measure essentially calls for a 4-year “time out” on further implementation of the rate structure until FEMA completes the affordability study required by Biggert-Waters and also proposes a regulatory solution to issues found in the study. The bill’s delay would apply to any property that is grandfathered or purchased after July 2012, including second homes and commercial properties. The other property owners will still see any rate increases capped at 20-25% a year. The bill would also create a Flood Insurance Advocate within FEMA to investigate and assist property owners with verifying the accuracy of flood insurance rate quotes. The bill was introduced with an impressive list of 15 Senate and 65 House original sponsors. NAR will continue pressing for additional co-sponsorship and urging its immediate consideration by Congress.