Fort Lauderdale Real Estate Deal OF The Week – July 2, 2010

Fort Lauderdale Real Estate Deal Of The Week!

Well… it’s baaaack! The hugely popular deal of the week is back! We have been so busy as the market has really taken off down here. If you have signed up for our property alerts, you have seen how fast the properties that we feature end up being sold. Most of the deals that we come across move before we have had a chance to feature them on the deal of the week. Due to the type of market that we’re in, we’ve made some changes and if you want to know what’s hot and what’s moving, then you’ll like the changes.

The big change we have made is to focus on moving Fort Lauderdale foreclosures, investment properties and short sales. Why? It’s what we get the most calls on and the buyers for these properties seem more ready to act. So we all had a meeting and said why don’t we give the people what they want.

So what you’re going to be seeing here on the Fort Lauderdale Real Estate Deal Of The Week are some of the most profitable deals on the market. Also, make sure that you read about our new Real Estate Concierge Service and register for free!

John D. Rockefeller once said that the “Time to buy is when blood is running through the streets“. I think it worked out well for him and the streets in South Florida are looking bright red to us so … What do you say?l Let’s make some money together!

Notice: Here is a Fort Lauderdale foreclosure property that we want to give Investors an opportunity to review. Please be advised that these properties often sell in a matter of days. The last property we featured sold in a few hours. So if you are interested, please act fast. This is not sales hype, these deals don’t need any hype. They are flat out good properties that investors in Fort Lauderdale are looking for. So when they see good deals they move quickly.

All of our Investor properties are offered on the basis of CASH OR HARD MONEY ONLY! No exceptions. If you are going to submit an offer please be prepared to meet the terms as shown in the property details.

This Property Is A Veritable Cash Cow!

Address: 709 SW 15 AVE FORT LAUDERDALE FL 33312

Asking Price: $180,000.00 OBO

Tas Assessor’s Valuation: $261,000.00

Description: This four plex consists of Four separate 2 bedroom / 1 bathroom units. Each unit is approximately 750 square feet and should rent for a minimum of $800.00 per month. If you choose to rent to Section 8 tenants you can get even higher rents. It’s simple, do the math on this property and you see that even with the repairs needed it’s a slam dunk!

$800.00 or more per unit x 4 units = $3,200.00 per month in potential income. That’s over $38,000.00 in annualized income on this property. This deal would cash flow with hard money and it spins crazy ROI on a cash deal! Any way you slice it, this is a money maker and will move quickly.

Monthly Income Potential: $3,200.00 +

Annual Income Potential: $38,400.00 +

Repairs Needed: Please understand, the property needs some TLC and cosmetic repairs as it is a foreclosure, but it’s nothing that can’t be tackled by even a newbie investor or new landlord. Please be advised that each unit would need the following:

Each unit needs a new kitchen (cabinets / countertops / plumbing / sinks)
Each unit needs new bathroom
The flooring is ceramic tile so that’s good to go.
You’re also going to need some new windows
It’s going to need both exterior and interior doors.
You’re going to need appliances for all 4 units
Each unit needs an HVAC system

Repairs needed and recommended to the entire property would be estimated to be approximately to be $7,500.00 to $10,000.00 per unit for a total repair estimate of $30,000.00 – $40,000.00 which is reflected in the discounted price.

At the time of this posting, there are no open code violations or issues of that kind pending.

Here’s a short video on the Deal of The Week!

Click Here To View Map Of Property Location

Terms Of The Deal:$2,500.00 deposit in the form of a cashiers check made out to the law firm of Wesoloski & Carlson. Closing within 30 days. Once you have completed inspections and are ready to make an offer, we will send you the contract for your review and execution. Please return the contract with the cashiers check.

Inspection Period: These Investor properties are sold in “As-Is” condition. No repairs, alterations or improvements will be made. If you need to inspect the property please do so BEFORE you put in an offer. Or email us to make mutually agreeable inspection arrangements.

Code Violations: Most of the investment properties that we feature are distressed properties. This means they are more than likely in some stage of foreclosure or have gone through the foreclosure process. If any code violations exist they are the responsibility of the Buyer to rectify.

Note to Realtors: If you are a Realtor please be advised that we do not pay commission. If you want commission it must be added to the price you quote your buyer. Our price is net to us. For instance if we are seeking $75,000.00 , you will not be paid a percentage of that amount. If you desire to make your customary 3%, you must add it to the price of the property. For instance if we show a price of $75,000.00 and you have a buyer then you would add your 3% to your buyer’s purchase price or in this instance you would quote your buyer $77,250.00.

Disclaimer:These properties are being marketed by Real Estate Radio USA and are not being marketed by any real estate agent associated with the Fort Lauderdale Real Estate Blog. We are a private real estate investment company.

If you have any questions about this property or any other property for sale in the metropolitan Fort Lauderdale area, please feel free to email me or give me a call at 954-709-7461.