Tag: Investment Strategy

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.
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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
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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

Foreclosure Increase Leads to Rise in Vacant Bank REO

Recent article posted by Jacob Passy on September 9, 2016  on National Mortgage News website:

The percentage of vacant bank-owned properties is larger now versus a year ago as banks are completing more foreclosures, according to Attom Data Solutions.

Overall there are fewer abandoned properties, as roughly 1.4 million, or 1.6% of all residential properties, were vacant at the end of the third quarter, RealtyTrac’s parent company Attom reported in its U.S. Residential Property Vacancy and Zombie Foreclosure Report Thursday. That figure is down 3% from the previous quarter and down 9% year-over-year.

Similarly, the number of zombie foreclosures fell 9% from the third quarter of 2015 to 18,304. As a share of the total properties in the foreclosure process, 4.7% were vacant.

But as the number of real estate owned properties has grown, it has led to an increase in bank-owned vacant homes. Attom found that there were 46,604 vacant bank-owned residential properties at the end of the third quarter, which represents an increase of 7% from the previous quarter and up 67% from 2015.

This vacancy situation is the result of a seller’s market that has motivated lenders to complete foreclosures on vacant properties, according to Attom Data Solutions Senior Vice President Daren Blomquist.

“While that has reduced the number of vacant properties in the foreclosure process — so-called zombie foreclosures — it has also resulted in a corresponding rise in the number of vacant bank-owned homes,” Blomquist said in a news release.

“Assuming that the foreclosing lenders are maintaining these properties and paying the property taxes, they pose less of a threat to neighborhood quality than zombie foreclosures, but they still represent latent inventory in an inventory-starved housing market.”

 

Posted here by:

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

 

 

 

 

 

Tenant Screening Guide

For those looking to rent their home rather than sell, this is a great chart to reference when screening tenants. Call Goss Realty Group to get your Northern VA home sold or rented! 703.951.3773:

Crowdfunding for Real Estate Investing

Almost like being back in school, here are a couple of definitions to memorize.  Both are taken from Dictionary.com

  1.  Crowdfunding:    the activity or process of raising money from a large number of people, typically through a website, as for a project or small business.
  2. Vet:     to appraise, verify, or check for accuracy, authenticity, validity, etc.:
    An expert vetted the manuscript before publication.

Crowdfunding has become the new reality for Real Estate Investment.  The advantages to crowdfunding are:

  1. Lots of property choices
  2. Lots of Property categories
  3. Ability to borrow funds from large group of Investors for your projects
  4. Your property listings presented to a large group of Investors
  5. Transparency

The reason I also posted the definition for Vetting is another advantage of crowdfunding. ??????????????????????????????????????? The properties are analyzed by a group of Real Estate Investment professionals.  You are not at the whim of a single agent.  You are given an ID into the group website to view your trasactions as they are funded or purchased (transparency).  You also can view the properties, purchases and sales of the group as a whole.

Some of the groups have an average return of  11.5% to 14% return on short term Property Investments.  I t can go much higher for long term Property Investments.

I am working with a small team presently to Flip properties in Central and SW Florida.  Future blogs will talk about the progress of the group.  If interested in learning more about what we are doing or to get information about being a member, text “Investment” to (239)  770-6250 or email InvestSWFL@gmail.com.

Mike Cathell,
Broker/Owner, Investment Property Consultant

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

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

 

 

 

 

 

Florida Wholesale Properties

I entered a relationship with one of the top Property Wholesalers in Florida.  I will be posting several wholesale properties each week for Investors.  Many of these properties go within hours of being received.

Some common factors of these properties:

  • Must be cash sales
  • Many are at least 35 – 40% below market value, some even higher.later
  • Very few turnkey properties.  Many need rehab or modernization.
  • All are sold “As Is”
  • Offer must be in writing
  • They don’t last long!

The Blog Title will be in the format “Wholesale Property – (property address)”.  We have experimented with a few properties before this release.  The quickest sale was to an end user that went under contract in 6 hours after first posting.  This is not the norm but obviously, it does happen!  If you need 10 to 15 days due diligence or financing, these properties are not for you.  So,

Ready, Set, and we are a GO!

Mike Cathell,
Broker/Owner, Investment Property Consultant

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

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