« NC and SC Packages – SOLd Jan 09 Bulk Packages – SOLD »

Exit Strategy in Place – You Profit 375K in 30-45 days!! SOLD

There are now 15 total units for sale at 108K a door!!
15 Unit Condo Package in Naples, FL, located within an Exclusive Golf Community: 9 – 3bdr/2bth units Market Value: $360,000.00 (HAVE APPRAISALS!!)
Price is $172,800 per unit / PRICE SLASHED TO 108K A DOOR!!!!!!!!!

Estimated monthly rental $1,500.00

(Rental Company on site can rent units within 30-45 days/excluding these units, development is currently at almost 100% occupancy!)

6 – 2bdr/2bth units Market Value $320,000.00 (HAVE APPRAISALS!!) Price is $153,600 per unit / PRICE SLASHED TO 108K A DOOR!!!!!!!!! Estimated monthly rental: $1,200.00 (Rental Company on site can rent units within 30-45 days/excluding these units, development is currently at almost 100% occupancy!)

Total Package Price is $1,620,000 FOR ALL 15 UNITS!!!! Here’s an overview of how the Seller would like to proceed: Seller has contracts with the bank for nine 3/2 and six 2/2 REO condos in Naples. Seller is offering to you/your buyer to replace seller on those contracts for a fee of $275,000 (banks have agreed to this).

That amount will be included in the price to the buyer of $1,620,000, which equals $108,000 per unit. At that point the buyer can flip those to his own buyers, hold onto them and rent them out, whatever he likes as it would be his property to do as he sees fit.

Seller would also offer to you/your buyer the opportunity to JV with seller and flip those properties 30-45 days later to another buyer who offered seller approximately $2.3M for those same units with a close in 30-45 days. (Already under contract and that contract would be assigned to the new buyer). Seller would offer you/your buyer 75% of the net profits after all costs in that scenario, giving an opportunity to make in the neighborhood of $375k+ in a very short period of time.

Seller’s main goal is to get cashed out of this property quickly, what happens after that is of secondary importance. Therefore Seller requests that the payment of $275,000 be received no later than January 6th.

If it happens any later than that seller will simply wait until end of month and close with other buyer getting financed in 30-45 days for a larger profit.

Here is the process: Buyer will need to put 15K in escrow with title company (1K per property) on 1/12/09. Buyer will then have DD time through 1/15/09. On 1/16/09, Seller will have banks execute new contracts in new buyer’s name. These will go to the title company to hold in escrow. Buyer will wire funds to title company in the amount of 275K which will buy the seller out of the contracts. Upon receipt of the funds from the buyer, title company will release the new contracts to the new buyer and release the 275K to the seller. An escrow agreement will be executed by seller and buyer in order to facilitate this process with the title company. First buyer with funds in escrow gets this amazing opportunity! Do not hesitate on this -

Jan 09 Bulk Packages - SOLD

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