Tag: Investment Strategy

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

 

Open Houses – Meet the Auctioneer, Part 2 of 3

Two Luxury Waterfront Properties in Cape Coral, Florida are being auctioned on June 8 and June 9.  The auction will be online and can be viewed through a virtual tour prior to the auction.  Bidders must be registered to bid on these fantastic properties.

The open houses will have the local Listing Agent as well as the Auctioneer in attendance.  Even if you cannot attend in person, call us and view the virtual tour.

 

Open House 2:

1222 Sw 51st Street
Cape Coral

Open House – Sunday, June 5, 1:00 pm to 4:00 pm

Online Auction ends June 8 at 2:00 pm

download (4)

$375,000 Starting Bid

Key Features

• Completely remodeled
• 4 Bedrooms, 4 Bathrooms
• New kitchen with Stainless appliances and “soft close” drawers
• Waterfront with Gulf Access
• Swimming pool in Courtyard
• 800+ square feet added during remodel
• Quiet cul-de-sac neighborhood

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

Cell:  (239) 770-6250   Fax:  (239) 288-2505
Email:  InvestSWFL@gmail.com

Florida Luxury Properties Auction

Both of these Luxury properties are being auctioned.  Both are Luxury, waterfront pool home in Cape Coral, FL.  If in Florida, please call to schedule an appointment or visit the last scheduled pre-Auction open houses.  Both the listing agent and the auctioneer will be available at the open houses scheduled June 4 and June 5. Complete information and registration packets are available by emailing InvestSWFL@gmail.com

 

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

Cell:  (239) 770-6250   Fax:  (239) 288-2505
Email:  InvestSWFL@gmail.com