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South Florida Investors, Issue 07-18-07
July 18, 2007
South Florida Real Estate Investors

Pre - Foreclosure / Short Sale Property

4601 NW 10th Ave
Fort Lauderdale Florida 33309

Estimated Value : 365k

Make your offer contingent to Bank approval!

3/2 with pool and 2 car Garage. New roof. Approximately 2000sqft living area.

Property is in decent condition, needs interior update, bathrooms, floors, and kitchen cabinets.

Conventional Financing might be considered, prefer cash or hard money. Assignment of contract!

South Florida Wholesale Properties, Miami Wholesale Properties, Broward Wholesale Properties and Palm Beach Wholesale Properties / 07-18-07


*NEW*
1733 SW 5 Street
Fort Lauderdale, Florida 33312

Waterfront - OCEAN access - NO FIXED BRIDGES

3/2 Pool with DOCK. New granite countertop already purchased but not delivered. New cabinets (in boxes) need to install.

Needs: landscaping, flooring, paint, and update bathrooms.

Property right next door (much smaller) just closed for $625k.

Wholesale Properties Price: $485,000


727 SE 2nd Ave.
Delray Beach, Florida 33483

2/2 Block Construction
1000 SQ FT

Wholesale Properties Price: $210,000
Rehab Estimate $15,000
After Rehab Value $300,000

Broward Wholesale Property located in East Delray Beach in need of paint and flooring, kitchen update, and awning on front porch and a little landscaping. Has central air!!
Tax assessed at $185,000


Investors,
Please move fast on this wholesale property! We are getting a lot of response. Clean property with little work to be done.

To get inside you must have your financing in place!
$5000.00 down payment. First check and contract gets the property!

2220 SW Mount Vernon St.
Port Saint Lucie, Florida 34953

3/2/2 Frame/Stucco Construction
1350 Sq Ft. 1850 total

Wholesale Properties Price: $110,000
Rehab Estimate $9,000
After Rehab Value $165,000

Property located North of California, West of Del Rio .
In need of minor interior updating.

PROPERTY RENTED BY MONTH TO MONTH TENANTS FOR $1100/ month. Yes $1100!! Drive by only! Call for appointment


Wholesale Properties Single family attached house at:
1212 The 12th Fairway
Wellington, Florida 33414

Great value on this Wholesale Property!
Single Family attached house, 2 bedroom + 2 bathroom, 1311 sq.ft., living area.

Wholesale Properties Price: $ 114,900
ARV: $ 205,000


HANDYMAN SPECIAL, WAITING AND READY TO BE REHABBED!

15300 SW 296 ST
MIAMI, Florida 33033

Wholesale Properties Larger Than Tax Roll
Beds/Baths: 3/2
Adj. Sq Footage: 1,800 sq. ft. with new plans
Lot Size: 8,800 sq. ft.
Year Built: 1953

ARV (After Repaired Value): $300K
Repairs: $50k
Wholesale Properties Price: $165K

Comparable Sales:

1.) 15284 Jackson Dr Miami, FL. 33033 02/2007 $300,000 Bed/Bath: 3/2 LA: 1,617 sq. ft. Year Built: 1952 Lot: 9,450 sq. ft.
2.) 15430 SW 297 Ter Miami, FL. 33033 02/2007 $309,000 Bed/Bath: 3/2 LA: 1,873 sq. ft. Year Built: 1965 Lot: 7,950 sq. ft.
3.) 15600 SW 298 Ter Miami, FL. 33033 05/2006 $284,900 Bed/Bath: 3/2 LA: 1,526 sq. ft. Year Built: 1968 Lot: 7,500 sq. ft.

MUST CLOSE BY July 23, 2007. CASH OR HARD MONEY ONLY.

Property was fire damaged. Its been cleaned up, very professionally done the cost of clean up was 27K. Also, the new plans for the house have been drawn up and will be given to the buyer at closing, the cost of the drawings where 15K. Miami Dade County building permit approved and ready to start construction. Please drive by property and pictures can be sent on request, only very interested buyers will gain access to the property.


52 NW 99 Street
Miami Shores, Florida 33150

Wholesale Properties Price: $330K
Comps: $430-$500K

Description: CBS, 2 bedrooms/ 1 bathroom
1,279sq.ft. living area, huge lot 10,200 sq.ft; good condition, needs a little cosmetic work; has one car garage.
Not on MLS

Totally remodeled. New wood kitchen cabinets. New tile.
etc. etc.

Comps out at about $200k. Would make a Great rental. Section-8 pays $1,500 to $1,600.

Wholesale Properties Price: $140k Will consider conventional financing.


*NEW*
775 81st STREET
Miami Beach, Florida 33141

3/2 CBS, Large backyard. Has renovated kitchen and bathrooms.

Needs $15k to $20k in Re-hab.
Assessed Tax Value $387k.
Wholesale Properties Price: $380.000
Comps at about $540k


*NEW* 152 NE 60 Street
Miami, Florida 33137

DUPLEX

4/1 and a detached 1/1, Built in the 1920's, frame, good roof,
Interior needs complete re-hab.
Wholesale Properties Price: $130,000


*NEW*
1192 Highview Road
Lantana, Florida 33462

Shows up on tax rolls as a 2/1, But it is a 3/2. 1,698 sqft*. Has a flat roof, CBS, central A/C.
Needs @ 25k in rehab.
Closed comps:
280 Seagrape Road $218k
3310 Atlantic Dr. $245k

Wholesale Properties Price: $130.000


*NEW*
2761 NW 9 Place
Fort Lauderdale, Florida 33311

Cash or hard money only on this Broward Wholesale Property
Washington Park
CBS 3/2 Single Family House with 1,066 square footage.
Retail: $200k plus!!
3/2 good roof, put on in '2002' Tax rolls show 2/1 but is wrong. I have paperwork from the city to show that this was built as a 3/2, and by looking at the house I believe the square-footage is wrong too. House needs: a/c, new kitchen, update bathrooms, paint, landscaping, and new doors. This is located on a nice block with all newer homes. Would be great for rehab and resell, or ideal as a rental. Section-8 pays $1,600 plus for a 3/2.

Wholesale Properties Price: $123,000

Comparables:
2841 NW 10 CT $ 217,000.00 1969 2/1 3/23/07 960
2817 NW 6 CT $ 195,000.00 1958 2/1 12/28/06 1,086
3031 NW 7 CT $ 220,000.00 1968 3/1 3/15/07 1,188
3085 NW 8th ST $ 240,000.00 2001 3/2 3/22/07 1,176
1211 NW 30th Ter $ 199,900.00 1985 3/2 3/13/07 1,038
351 NW 30th Ter $ 220,000.00 1969 2/1 2/14/07 886
1530 NW 11th St $ 209,000.00 1952 2/1 2/20/07 1,052


*NEW*
1809 SW 22 street
Fort Lauderdale, Florida

2/2, CBS, Newer roof, Clean property,
Needs general updating.
Owner put a door exiting the bedroom that is at the front of the house, which makes the property look like a duplex. However the interior is laid out like a regular 2/2.

Comps $300k plus.
Wholesale Properties Price: $195k


*NEW*
332 Linda Lane
West Palm Beach, Florida 33405

3/1, large fenced in back yard, needs a/c, central ducts, & vents are already in place. Near beach, needs general updating @ $20k

Average comps $340k.
Wholesale Properties Price: $223,000


Current Cap Rate 10.3%

14460 NW 22nd Avenue
Opa Locka (Miami), Florida 33054

Building Information:
2 Story Building 8500 Sqft Lot
18 Units (6- 2 Bed 1 Bath, 12- 1 Bed 1 Bath)
New Roof with 10 year warranty
All units remodeled with new tile floors, kitchen cabinets and appliances
Recently painted exterior
Close to Church, Supermarket and Highways

Income Information:
17 units occupied (1- 1 Bed 1 Bath Unit vacant)
2 (2 Bed 1 Bath) @ $650 per month (market rent)
1 (2 Bed 1 Bath) @ $645 per month
1 (2 Bed 1 Bath) @ $625 per month
2 (2 Bed 1 Bath) @ $600 per month
5 (1 Bed 1 Bath) @ $550 per month (market rent)
1 (1 Bed 1 Bath) @ $540 per month
2 (1 Bed 1 Bath) @ $525 per month
3 (1 Bed 1 Bath) @ $495 per month
1 (1 Bed 1 Bath) Vacant

Current Income
$115,140 per Year

Expense Information:
Real Estate Taxes = $10,675
Insurance = $10,000
Water and Sewer = $5,700
Waste Removal = $3,240
Maintenance = $900
Total Expenses
$30,515

Current Cap Rate 10.3%

Wholesale Properties Price: = $825,000

It gets better… rent out the 1 vacant unit for $500 ($50 under market) it jumps to a 11.1% Cap Rate!!!


2007 S. 10th St.
Fort Pierce, Florida 34950

3 Bedroom, 1.5 Bath, - Built 1979

1344 square feet under air
Rear Screened Patio with Fenced Yard

Newer Roof

Only Needs Paint and Carpet

Wholesale Properties Price: $109,000


2339 Hood St.
Hollywood, Florida 33020

3/2 Block Construction
1200 Sq Ft
Built 1953

Wholesale Properties Price: $155,000
Rehab Estimate $5,000
After Rehab Value $230,000

3/2 CBS block home located in Liberia subdivision. Wholesale Property is larger than tax roll. Has a 1/1 addition to the property. Features a new kitchen, new windows and new carpet and paint.


5411 Wintergarden Parkway
Fort Pierce, Florida 34951

Lovely 2-story home on Large Lot
3 Bedroom, 1.5 Bath,
Heated Pool - Fenced rear yard
1344 square feet under air

Great Neighborhood
Conveniently located

Needs minor cosmetic repairs ($4,000)

Wholesale Properties Price: $139,000
(Appraisal $170,000 - June 2007)

COMPS IN AREA:
7801 Westmont (active MLS)
1348 Square feet w/pool - $169,900

8102 Santa Clara (sold)
3/2 no pool- $156,500


HANDYMAN SPECIAL, AT THIS PRICE YOU NEED TO ACT FAST!

14435 NW 20 Ave
Opa Locka, Florida 33054

Beds/Baths: 2/1
Adj. Sq Footage: 771 sq. ft.
Lot Size: 5,000 sq. ft.
Year Built: 1950

ARV (After Repaired Value): $180K
Repairs: $35k
Wholesale Properties Price: $75K

Comparable Sales:
1.) 2081 Rutland St Opa Locka, FL. 33054 02/2007 $196,000 Bed/Bath: 2/1 LA: 894 sq. ft. Year Built: 1949 Lot: 5,000 sq. ft.

2.) 2050 SW 152 Ter Opa Locka, FL. 33054 04/2007 $180,000 Bed/Bath: 3/1 LA: 692 sq. ft. Year Built: 1958 Lot: 5,000 sq. ft.

3.) 2001 Wilmington ST Opa Locka, FL. 33033 02/2007 $180,000 Bed/Bath: 2/1 LA: 849 sq. ft. Year Built: 1949 Lot: 4,156 sq. ft.

MUST CLOSE BY July 27, 2007. CASH OR HARD MONEY ONLY.

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