Tag: Investment Property

Off Market Investment Properties – September 18, 2017

My partners and I have access to off-market Properties from one of the largest Financial Lenders in the United States.  Their Asset Manager will supply us with lists of Residential and Commercial properties 7 days before they are distributed to local asset managers for public listings.

I know 7 days is a short period but we have already sold dozens of these properties in our first run tests.  Seven days lead for off-market properties is better than zero-day leads.  Plus, you can add additional time by submitting your Letter of Intent.

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 the list are Reserve Prices the Funders will take.  Very rarely is the price discounted.  Sometimes, we can get a 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 an additional 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 a 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.  If you have interests in another State, send me a specific property type, a price range and locations of interest.

Previous list example:

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

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.

 

Mike Cathell,
Broker Associate, Investment Property Consultant

Records Results Real Estate

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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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
 
_________________________________________________________________________
 
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
 
______________________________________________________________
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.

Pending Home Sales Dip 0.8% in March

Posted on National Association of Realtors on April 27, 2017.

MEDIA CONTACT: ADAM DESANCTIS / 202-383-1178 / EMAIL(LINK SENDS E-MAIL)

WASHINGTON (April 27, 2017) — Pending home sales in March maintained their recent high level, but momentum slackened slightly in most of the country as dearth supply weighed on activity, according to the National Association of Realtors®. Only the South saw an uptick in contract signings last month.

The Pending Home Sales Index,* www.nar.realtor/topics/pending-home-sales, a forward-looking indicator based on contract signings, declined 0.8 percent to 111.4 in March from 112.3 in February. Despite last month’s decrease, the index is 0.8 percent above a year ago.

Lawrence Yun, NAR chief economist, says sparse inventory levels caused a pullback in pending sales in March, but activity was still strong enough to be the third best in the past year. “Home shoppers are coming out in droves this spring and competing with each other for the meager amount of listings in the affordable price range,” he said. “In most areas, the lower the price of a home for sale, the more competition there is for it. That’s the reason why first-time buyers have yet to make up a larger share of the market this year, despite there being more sales overall.”

Pointing to revealing data from the March Realtors® Confidence Index, Yun worries that the painfully low supply levels this spring could heighten price growth — at 6.8 percent last month — even more in the months ahead. Homes in March came off the market at a near-record pace 1, and indicating an increase in the likelihood of listings receiving multiple offers, 42 percent of homes sold at or above list price (the second highest amount since NAR began tracking in December 2012).

“Sellers are in the driver’s seat this spring as the intense competition for the few homes for sale is forcing many buyers to be aggressive in their offers,” said Yun. “Buyers are showing resiliency given the challenging conditions. However, at some point — and the sooner the better — price growth must ease to a healthier rate. Otherwise sales could slow if affordability conditions worsen.”

Yun forecasts for existing-home sales to be around 5.64 million this year, an increase of 3.5 percent from 2016 (5.45 million). The national median existing-home price this year is expected to increase around 5 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.

The PHSI in the Northeast decreased 2.9 percent to 99.1 in March, but is still 1.8 percent above a year ago. In the Midwest the index declined 1.2 percent to 109.6 in March, and is now 2.4 percent lower than March 2016.

Pending home sales in the South rose 1.2 percent to an index of 129.4 in March and are now 3.9 percent above last March. The index in the West fell 2.9 percent in March to 94.5, and is now 2.7 percent below a year ago.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

# # #

1 Properties typically stayed on the market for 34 days in March, which is down from 47 days a year ago and is the second lowest since NAR began tracking in May 2011. The lowest was May 2016 at 32 days.

* The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: NAR’s metropolitan area home price report for the first quarter will be released May 15, Existing-Home Sales for April will be reported May 24, and the next Pending Home Sales Index will be May 31; all release times are 10:00 a.m. ET.

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

How to Evaluate A Real Estate Investment Deal in Cape Coral, Florida

This blog was forwarded to me by one of my Wholesale Property Investors, Brandon Mitchell from his Investor Carrot web site.  Timeless information for anyone interested in Investing in Real Estate.  Thanks Brandon:

We talk with lots of people looking to buy real estate investment properties in Cape Coral and surrounding areas. Some of them know what they’re doing… and some of them are still in the learning process.

But, since our entire business is finding great deals… and often passing those deals onto real estate investors like you at huge discounts… I thought it would be a great idea to share with you some resources on how to effectively evaluate a real estate investment deal. This works in any market… Cape Coral, surrounding areas, florida, any other states across the country.

When you really boil it down… evaluating a real estate deal is a pretty simple process. If you’re looking to buy real estate as an investment, wholesale properties, hold them for rent… whatever, one of the most important parts is buying it right (i.e. – not overpaying).

So lets dive in.

How To Evaluate A Real Estate Deal – (for single family houses)

There are just a few main elements when you’re evaluating a deal.

  • Cost of repairs needed to get it back up to good condition
  • The after repair market value of the property (what it’s worth and can sell for today once it’s fixed up)
  • If you’re going to buy and hold for a rental… you need to know what you can rent it out for and what your “debt service” (mortgage payment) will be. Knowing this makes sure you’re buying so the property cash-flows each month

There are other things you can (and should) look at too… but those 3 are the main important things to look at first.

Cost of Repairs

One of the things you should do when you are looking at a property is find out how much it’ll cost you to fix it up to a point where it’s in great shape. In other words, the cost of repairs. This could be a new roof if it needs it, carpet, paint, a new kitchen, yard, maybe even more.

To find a good estimate of cost of repairs, the best advice we have is to get to know a contractor or two in your area and have them walk through the properties with you the first few times… have them quote out the repair cost… and build that into your offer.

After Repair Market Value

This is simple, but many investors get stuck on this part. This is essentially what you could sell the property for today… after you repaired it and brought it up to a great condition. This is found by finding out what other similar houses in the same area are actually selling for. NOTE: Don’t look at the “Listing” price… look at what houses similar to yours have actually sold for in the past 3 months. This helps you determine how much you could actually sell that house for if you had to… right now. You never want to over pay to a point where you can’t sell it for a profit in the next 3 months.

How do you find this? There are services out there that can help you with this… but often times the best way to find out the true value of a house is to talk to a Realtor that you know… or an appraiser. Heck, if you don’t know one… call up a few today… tell them you have a property that you’re potentially going to sell in the near future… and ask them what they think it should sell for.

Buy And Hold For Rental 

So, you’re going to buy and hold for rental? Great! You don’t need to worry about what it’ll sell for right away. What you need to know is if it’ll pencil out on a month to month basis. You know… cash flow.

So, talk to a mortgage broker (or a private lender) and find out what the monthly mortgage payment will be for that specific property.

Then find out what you can rent the place out for on a monthly basis.

Then, you work backwards… and find out at what purchase price your mortgage payment will be low enough so you can make the monthly cash flow you need to make on the property. Be sure to figure in other expenses too like property taxes, maintenance expenses, property management fees, and keeping money in reserves for future repairs.

So, your offer price here should be:

Monthly Mortgage – Monthly Rents – Operating Expenses – Taxes & Insurance – Monthly Cash Flow = Offer

Simple enough right?

The cool thing is, the more you’re bringing into the deal in cash… the lower your mortgage is.

Making An Offer

We’ve been talking about how to look at the numbers and analyze a real estate deal.

From there, just make an offer. Many times the properties we let you know about will already be so deeply discounted that we get multiple offers… often above our asking price.

So, if you really want a property… find out what is the bare max you could buy the property at… and offer that. Otherwise you may lose the deal because someone else is likely making an offer too.

With that said, the golden rule in real estate is to never over pay for a property. That’s why our own deal analyzing criteria is so darn strict… and why our buyers (like you) get such great deals.

I hope this little tutorial has helped you sharpen up your real estate deal analyzing skills… and we really look forward to working with you in the near future.

If you have any questions at all… don’t hesitate to contact us anytime for anything.

Happy investing!

Florida Commercial Real Estate Investments -1/21/17

These properties are listed the day received.  They sell quickly and may not be available shortly after posting.  Email:  InvestSWFL@gmail for information.  Need specific property address and Buyer information.  No Brokers, Principals Only.  Commission for Agents must be paid by your Buyer.
This group receives information from known sources but is not responsible for any misinformation.  Posted as received.
Note Buyers Looking for Huge Discounts

PN’S, NPN’S, Commercial and Residential. Choose your locations. Due to a recently developed relationship we are now able to place real and performing note buyers directly with the sellers that supply such assets. Deal directly with the asset owners as they custom portfolios that meet your own criteria. Call for additional information and to move forward. Direct buyers only who have previously bought in this market place.
________________________________________________________________

$1,750,000 + 3% fees to be paid by buyer!!
Cap Rate
8.19%
Floors 3
Units 29
Occupancy 95%
Lot Area 16,464 sqft
Building Size 44,000 sqft
Year Built 1974
29 Unit Multi-Family
101 SOUTH PENINSULA DRIVE, DAYTONA BEACH, FL 32118 
 
 
 
COUNTY Volusia
BUILDING SF 44,000
LAND SF 16,464
NUMBER OF UNITS 29
YEAR BUILT 1974
YEAR RENOVATED 2006
OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARY
OFFERING PRICE $1,750,000
PRICE PSF $39.77
OCCUPANCY 95.00 %
PRICE PER UNIT $60,345
NOI (IN-PLACE) $143,348
NOI (MARKET) $184,388
CAP RATE (IN-PLACE) 8.19 %
CAP RATE (MARKET) 10.53 %
 
 
 
 
DAYTONA, FL.
20  UNITS 
GOOD SIZE ONE BEDROOM & ONE BATHS
CONCRETE CONSTRUCTION
WELL MAINTAINED
100% OCCUPIED
NEW ROOF
NEW KITCHENS, BATHS,
A/C’S, WATER HEATERS,
 NEW LAUNDRY, PARKING
40 YEAR CERT.
Net Income: $ 216,000
Expenses: $ 55,000 *real number
CAP RATE: 9%
$1,400,000 3% FEE
SELLER OPEN TO OFFERS
WILL CARRY A MORTGAGE
 
 
 
OFF MARKET
HOMESTEAD
2 COMPLEXES
TOTAL 110 UNITS
MANY HAVE NEW KITCHENS
MANY HAVE NEW BATHS
REMODELED & GREAT CONDITION
98% OCCUPIED
2 BUILDINGS NOI ABOUT $410,000
RENTS LOW, GOING UP TO $900 P/M
BUY BOTH FOR $5,891,600 +2% 
CALL FOR PROCEDURES & FINANCIALS

 CLEAN AND UNIQUE PORTFOLIO

•  Location: Broward & Dade County
•  Properties:19
•  Units: 49
3 Single Family home
12 Duplexes
1 Triplexes
3 Fourplexes
•  Asking Price: $5,650,000.00

•    Transferable Mortgage debt: $3,175,125.00
•    Asking Price per door: $115,306.00
•    Average rent per unit: $1,250.00

•    Vacancy: 3.9%
*Vacant units are currently being rehabbed.

CALL FOR ADD’L INFO., FINANCIALS, PROCEDURES & MORE

OFF MARKET
SW DADE, FL
SHOPPING CENTER
ANCHOR: WALMART
235,000 SQ FT
31.91 ACRES
100% OCCUPIED
PRICE $75,000,000
INCOME/EXPENSES  AVAILABLE
CALL FOR ADD’L. INFORMATION PICTURES & PROCEDURES

OFF MARKET
WESTON, FL
SHOPPING CENTER
100,000 SQ FT
2.5 ACRES
NOI: $1,887,088
CAP RATE: 6.2%
SHOPPING CENTER: $27,000,000
2.5 ACRES: $3,000,000
CALL FOR ADD’L. INFORMATION PICTURES & PROCEDURES

 
 For more information:

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
 
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Investment Property Renovation ROI

Pinterest Post from LifeHacker.com

 

The Best and Worst Projects for Increasing Your Home's Return on #Investment #homeimprovement #soflahomeseller:

 

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
 
 Real Estate Services of SWFL, LLC
#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