Tag: Investment

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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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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Partnerships: To Exchange or Not to Exchange

Believe it or not, there are investors out there with gain on properties that they have held for business use or investment.  When they reach a time that they feel is the perfect time to sell, they must come to terms with the fact that this gain will carry with it some hefty tax liability.  A 1031 Exchange is an ideal solution to this predicament.  What happens when the taxpayer is a partnership comprised of several partners who are not all on board with doing an exchange?  Let’s take a look at this example:

Real Estate Pros is a partnership that owns a rental unit on Fort Myers Beach.  The partnership is comprised of 3 individuals.  They got a great offer to sell their unit on the beach, and they have decided to accept.  When all is said and done, they are looking at over $75,000.00 in taxable gain.  Two of the partners determine that a 1031 exchange is the best option to defer the capital gains and depreciation recapture taxes.  The third partner does not want to invest in any other properties.  He would like to just cash out.  So what do you do?  How do you work it so that all parties are happy?   A popular question that comes up is, “What if we take the property out of the partnership and deed it into each of the partners’ names prior to closing on the sale?”  This is referred to as a drop and swap, where you are dropping title from the partnership entity into the individual names, and then doing the swap.  In theory, this sounds like the perfect solution.  Those that want to exchange can, and those that do not simply take their cash at closing and move on.  Unfortunately, because the property is owned by the partnership, there is no way to have some of the partners do a 1031 and others simply cash out.  It’s an all or nothing deal.  Either all of the partners agree to 1031, or none of them get to.  The drop and swap is a controversial topic.  Depending on who you talk to, some say that this is ok, and others will tell you that this will not work.

Let’s take a step back and look at the transaction from a distance.  The property in question has been owned by the partnership (and under the partnership’s tax id number) up until the time of the
“drop”.   Once title is dropped into the names of the individual’s, it is now under their personal tax id numbers.  When they go to sell the property, they are now selling under their own tax id numbers.  The issue is that they have not satisfied the “held for investment” requirement prior to the exchange, at least not under their tax id numbers.  One would think that since the partnership did satisfy the holding requirement, the individuals are covered.  This is not the case.  We are dealing with two different tax id numbers.  Once the individuals took title to the property, a new clock started.

These types of transactions of have come under a great deal of scrutiny by the IRS.   If you have no choice by to do a drop and swap, your first call needs to be to your tax and legal counsel so that you can be sure to implement several strategies that will hopefully help to lessen the odds of your exchange being disqualified.   For more information on 1031 Exchanges, call us at 239-333-1031 or visit www.1031company.com.

Theresa Knower, CISP, CES
Chief Operating Officer
AdvantaIRA Trust, LLC
1031 Tax Free Strategies, LLC
1520 Royal Palm Sq. Blvd. #320
Fort Myers, FL 33919
 
NEED A FORM? Advanta forms at: www.advantaforms.com

Investing in Bank Notes

Investing in Bank Notes is not for the faint of heart.  But like any investment product, the higher the risk, the higher the higher the gain.  Notes can be very lucrative for Investors wanting to be in the Real Estate Investing world without the problems that can come from actually owning property.

Purchasing a Note from a financial institution means you are not the mortgage holder of the property.  The Bank will sell the Mortgage to an Investor at a discounted amount and now the Property Owner makes payments to you to fulfill Note Strategytheir mortgage debt.  Banks will usually sell the Note because the balloon payment is coming due and the Property Owner does not have the money to make the Balloon Payment.  Many times, the Property Owner cannot re-finance the loan because for reasons brought on by the current economy.  Banks may sell the Note for 60% of the face value to a Private Investor.  (There is no typical figure, this is for demonstration purposes.)

There are several ways to profit from buying a Discounted Note –

Producing Note with New Balloon Due Date – The Property owner is current with payments.  This strategy keeps the payments the same for the Owner but extends the Balloon payment due date for another 3 to 5 years.  The example, you purchase a $600,000 mortgage for $450,000.  Owner continues to make the current payment of $12,000 per month payment, same as they made to bank.  At the end of 5 years, Owner owes the balance (Balloon) based on a $600,000 mortgage. If the Owner falls behind in payments or cannot make the Balloon, the Investor can foreclose in the property.  The only change to the Property Owner is the extension of when balloon is due and a new company is collecting payments.

Producing Note with New Balloon Balance – Using the same example as above, the Property Owner is given the opportunity to continue making payments for 3 years but the Balloon payment is based on $525,000 saving the Owner $75,000 in principle as well as the related interest on the original balance amount.  This strategy gives the Owner incentive to keep the business open to save money on the Note.

Non-Producing Notes – This strategy is for Investors interested in flipping or obtaining discounted properties for their own use.  These properties are in foreclosure, many of them abandoned.  The Bank may be willing to take a larger discount because of this being a distressed property.  Several tears ago, I was part of a non-producing note sale and property flip.  The note balance was $628,000 and the investor purchased it at $375,000.  Putting the property on the market immediately after cleaning property, resulted in a sale for $485,000 in under 60 days which was still under market value.  The Buyer was an end user.

If interested in learning more about note purchases or to become a member of my Member-Only Note list site, email me at InvestSWFL@gmail.com.  Notes are listed on this site for 30 days before being released for public sale.

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

 

Innovative Mortgage – Gary King, Broker

Gary King, broker/owner of Innovative Mortgage, LLC, and Co-Owner of Real Estate Solutions of SWFL, LLC has broad experience in both financial Mortgage Needsservices and the real estate industry, specializing in commercial financing. As the former City Manager of Cape Coral (the tenth largest city in Florida), Gary provided executive oversight for a $447 million budget and all aspects of municipal planning and zoning, giving him comprehensive insight into the real estate markets.
Previously, as Senior Vice President of Strategy and Infrastructure for Boston-based State Street Corporation, Gary provided strategic oversight for all Information Technology computing and network platforms worldwide. State Street is a leading global provider of institutional investment services with $23.2 trillion in assets presently under custody and administration.
He is a featured speaker on Commercial Real Estate Trends and New Developments Affecting Commercial Mortgages.
Gary has both a BS and MBA from Northeastern University in Boston.
              Gary King, MBA

Residential & Commercial RE Advisor
 Real Estate Solutions of SWFL, LLC
                      and
               Broker/Owner
        Innovative Mortgage, LLC
Residential & Commercial Mortgages
       …extraordinary service!
    mobile 239-989-2288 (any time)
Email:  GRKServices@gmail.com

Pick Your Best Property Investment Strategy

Several years ago, I decided it was time to become rich investing in Real Estate.  I had a simple strategy:

  • I spent hours on-line researching the “Gurus” of the real estate industry.
  • I pulled out my credit card and bought their CD’s, DVD’s, ebooks and courses.
  • I put these on the shelf and let them gather dust until they finally ended up in a garage sale.
  • I realized, great mind that I am, I needed personal instruction!
  • Out came the credit cards and thousands of dollars were spent going to live seminars from Real Estate Gurus where I could once again buy their CD’s, DVD’s, books and all-inclusive Investment Strategy course packets.
  • Once again, I had a nice package of materials for another garage sale.
The Golden Egg
Now I am older and wiser and last year I had my “Aha” moment.  Instead of reading, watching and listening to the piles of material that I accumulated, I interviewed mentors in my own home town.  I did say “interviewed”.  My “Aha” moment was realizing the best way to become successful in Investing is to find someone right in my own backyard who is a successful Investor.  After, several interviews I picked the person who would become my mentor on this journey into Property Investing.  I have been very fortunate and through my mentor I have met several other successful Property Investors.  So far, I am experiencing one of the best years in Real Estate income I have experienced in a long time.
Strategy #1 was mentioned in another recent blog (click here), find your Investment Property Niche.
Strategy #2, find a successful Investor and let that person become your mentor.
The relationship must be mutually beneficial to you both.  For example, become a bird-dog for the Investor and learn how to find good deals.  Investment Property Strategies will be bringing you these successful Investors.  We will walk you through actual days of research, planning, finding, procuring and flipping  Investment Properties as explained by our Investors. With the help of the internet, your backyard becomes their backyard!  Contact me now at InvestSWFL@gmail.com or call 239-770-6250 to become part of this group.

Mike Cathell, Investment Property Specialist

Broker / Owner of Real Estate Solutions of SWFL, LLC

Cell: 239-770-6250 Fax: 239-220-5508

Email: InvestSWFL@gmail.com

Investment Property Strategies – Getting Started!

The hardest part of any investment strategy is overcoming the fear of getting started.  There are many ways to invest your money including:

  • Leave it in Bank and get 1.5% return.
  • Invest in stocks which if your stocks go down, all you own is pieces of paper.
  • Hide it in your mattress or a hole in your backyard.
  • Or diversify your portfolio with Investment Property.

    Who’s Watching Your Back?

Property has historically produced returns of 6-8%.  Like any investment there is risk involved but even when values drop you still own property.  A long time ago, I was told if I want to be successful, associate with successful people.  This site will help you overcome your fears by offering advice from experienced investors in the following ways:

  • Helping plan your investment strategy.
  • Providing the tools to analyze properties.
  • Education through articles by successful investors.
  • Presentation of their investments and what made properties desirable to them.
  • Lists of investment properties suggested by our group.
  • Eventually, live online discussions with our investors who will analyze your deals with you before you make your purchase.

Florida is fast becoming one of the hottest property investment markets again.  In some areas, prices are even starting to rise.  Now is the time to Invest in Commercial property.  Now is the time to take advantage of below market pricing.  Now is the time to have successful Investors helping your success!

Mike Cathell, Business Director and ePro Realtor

Real Estate Solutions of SWFL, LLC

Serving all of Lee County – Ft. Myers, Cape Coral, Estero, Lehigh Acres & Ft. Myers Beach, Florida

Cell: (239) 770-6250

Email: Mailto:InvestSWFL@gmail.com