715 Palmetto Ave in Lehigh Acres, Fl 33972 | homegrown house

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I went to see a property today that was listed at $52,000. It seemed to be a good deal and I had to see it. Actually, it’s a foreclosure that was place on auction for 6 days. The day I went to see it, the price was already $60,000.
I had a surprise when I saw it is a homegrown, therefore, confirming the low price.
Those home, in good condition, with an owner living in and taking care of those similar size homes sell between $80,000 and $85,000 as of today.
This one, I estimate at least $25,000 to repair the basic as follow:
-Electric system: $4,000
In order to get the heat necessary for the marijuana plants, and without alerting the electric company, people bridge the whole thing, making repair very costly. I had a similar repair done for about $4,000
-Water system: $3,000
The whole water filter system has been stolen including the well pump. The system itself is about $2,500 and the pump about $350.
-A/C system: $7,000
The outside unit has been stolen and the inside unit has been re-piped to the master bathroom. Re-piping will cost about $1,200 and the 2 units about $4,800.
-Kitchen: $2,000
Appliances are needed plus a few replacement. Used appliances can be purchased for $2,000 for the 4 units.
-Title: $2,800
It will be more attractive and a better selling point to replace the carpet by the tiles. If there is no problem with the concrete slab (cracks), it will cost a $2,800 to do that job. Add $1,000 if the cracks are too wide and/or the slab not leveled.
-Paint: $2,000
Painting the whole inside will be billed a $2,000 included the paint.
-Garage: $1,000
The block wall in the garage need to be tear down.
-Bathroom: $9,000
Both bathroom have some extensive issues and replacement with basic materials would be around $9,000
-Wall: $1,200
The sheet rocks and inside walls are full of mold due to humidity and heat. That’s a big and messy job but easy and not that costly.
-Exterior: $1,300
The landscaping and fence need to be done in order to make a nice outside look for buyers.
-Miscellaneous: $1,000
Always add extra for little things as bulb, locks, windows, doors, cleaning, etc…
So we have a total of $34,300.
Since the highest bidder is already at $60,000, we can see right there that there is no money to be made in that deal. I guess the buyer is buying for himself in the intention of paying $60,000 and rehab the place at his own pace and budget.

715 Palmetto Ave, Lehigh Acres, Fl 33972

715 Palmetto Ave, Lehigh Acres, Fl 33972


715 Palmetto Ave, Lehigh Acres, Fl 33972

715 Palmetto Ave, Lehigh Acres, Fl 33972


715 Palmetto Ave, Lehigh Acres, Fl 33972

715 Palmetto Ave, Lehigh Acres, Fl 33972


715 Palmetto Ave, Lehigh Acres, Fl 33972

715 Palmetto Ave, Lehigh Acres, Fl 33972

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Comments (0) Sep 20 2013

Acheter une villa en Floride | Restaurer une villa pour faire du profit

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Il y a quelques jours, je suis entré dans un quartier a Cape Coral, qui est en forme de “U” avec une seule entrée donnant sur Del Prado et dont les contours du “U” est un canal. Ca limite donc le traffic aux seuls habitants la-bas et c’est par conséquent tres tranquille.

J’y ai vu et visité une villa a l’abandon, une saisie de banque. La banque m’a dit qu’elle était disposée a vendre et m’a donné une prix de $69.900, soit a peu pres 53.000 Euros. J’ai fait une petite video que vous pouver regarder ici en bas de page. J’ai fait une rapide estimation des frais de restauration a hauteur de $20.000 soit un 15.000 Euros.

J’en ai parlé a quelques investisseurs ( Comment investir en Floride ) et ils sont tous liés a d’autres projets pour le moment. Mais le retour sur investissement est tres intéressant. En effet, voici un bref calcul. Pris demandé de 53.000 Euros et une offre acceptée vers 50.000 Euros. Ajoutons les 15.000 Euros pour restaurer cette villa, situee donc juste en dehors de Del Prado et pres de Veterans Blvd avec un access facile a Fort Myers pour ceux qui y travaillent. Cela nous fait 65.000 Euros plus 5.000 Euros de frais d’achat et/ou imprévus. Une villa de meme dimensions dans ce meme quartier se vend entre 90.000 et 100.000 Euros suivant la qualité de matériaux qu’on y met. L’opération prendra a peu pres 3-4 mois. Un mois pour restaurer cette villa et comptons 2-3 mois pour la vendre. Cela nous fait un 18% de retour sur investissement en 4 mois, ce qui n’est pas mal du tout.

Si vous avez des envies d’investissements, vous pouvez vous joindre a nous pour acheter une villa ici en Floride en général en a Cape Coral en particulier, n’hésitez pas a consulter ma page d’investissements immobilier ici.




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Comments (0) Aug 15 2013

Exemple d’un investissement a Lehigh Acres, Floride

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Comme chaque matin, je cherche, a travers mon MLS (Multiple Listing Service), les nouvelles proprietes qui viennent d’etre mise sur le marche. Je recherche bien evidement les meilleures occasions, celles avec lesquelles je peux “flipper”, c’est-a-dire acheter, la remettre au gout du jour et la revendre le plus vite possible pour un profit.

Je fais cela pour mon petit groupe d’investisseurs, souvent etrangers, d’Europe, mais aussi de quelques Americains sur place qui n’ont pas beaucoup de temps a consacrer au “flipping”. Vous pouvez vous renseigner sur ce lien au sujet des options d’investissements

Le sujet du jour est une maison situee sur un lot residentiel de 2.000m2. Elle fait 135m2 sous air conditionne avec un garage de 40m2 pour deux voitures. 3 chambres et 2 salles-de-bain. Le prix demande est de 43.000 Euros et notre offre commencera a 25.000 Euros. C’est assez bas mais l’etat general devrait repulser les acheteurs qui comptent y habiter (trop de travaux a effectuer) et on devrait se retrouver entre investisseurs. De plus, la pauvre condition dans laquelle cette maison se trouve nous obligera a debourser une bonne petite somme d’argent.

En gros, les couts des travaux devraient se faire comme suit: 2 salle-de-bain a $5.000, la cuisine a $8.000, peinture exterieure et interieure a $2.000, un air conditionne complet a $4.000, le carrelage a $1.200 et divers a $3.000, soit un total de $28.200 ou a peu pres 22.000 Euros.

Les comparatifs du quartier indique qu’une maison de 135m2 habitee, et donc en relativement bon etat general, voit des offres de vente entre $95.000 et $100.000 soit a peu pres entre 75.000 Euros et 80.000 Euros. Elle peut aussi se louer entre $800 et $850 par mois. Le tout est de savoir si la banque est suffisament motivee pour accepter notre offre 25.000 Euros :-)

Voici, ci-dessous, une petite video des lieux. N’oubliez pas que vous pouvez participer a ces investissements a travers notre groupe d’investisseurs qui propose 3 niveaux differents d’investissement.



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Comments (0) Aug 10 2013

Immobilier aux Etats-Unis: des rendements de rêves? Vraiment?

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En tant que Belge, je lis quotidiennement le journal en ligne de la-bas. Et aujourd’hui, je suis tombé sur un article parlent des investissements fait par des Belges sur le sol Americain.
Bien que ce soit vrai, les prix de l’immo aux USA est plus qu’attractif. Sur ce, il n’y a rien a redire. Par contre, je suis reste bouche bée lorsque j’ai lu que ces citoyens belges achetaient des biens immobiliers a Detroit et a Atlanta.
Pour Atlanta, je veux encore bien. Certes, il y a plus de “sales” quartiers que de bons, et bien que je doute que vous pouvez acquerir une saisie bancaire dans un bon quartier pour 30.000 ou 40.000 Euros, la ville en elle-meme est encore acceptable. Mais que dire de Detroit? Franchement, attirer des acheteurs vers Detroit, il faut le faire. C’est LA ville la plus dangereuse des Etats-Unis. De un. Elle est désertée, sale et en piteux etat. De deux. Meme si on me payait pour y vivre, je ne le ferais pas. De trois. D’ailleurs, relisez un passage d’un article au sujet d’un couple anglais qui a été convaincu d’y investir.

“Le quotidien britannique prend l’exemple de Patricia Busaidy, 67 ans, et de son partenaire, Paul Penn-Sayers, de 75 ans, qui ont acheté une maison via la compagnie Assetz International, spécialisée dans les ventes à l’étranger, avec la promesse que celle-ci serait louée dans les 90 jours. Coût de l’opération : 30000 livres payées sur le compte d’une société américaine NSUK. Or, la propriété était en piteux état et n’a jamais été louée. Contactés par le “Financial Times”, les responsables d’Assetz International accusent NSUK de ne pas avoir fait les travaux nécessaires tandis que ceux de NSUK pointent du doigt l’agence de location. Mme Busaidy garde quant à elle son cadeau empoisonné sur les bras.”

Si on devait comparer un achat ici dans le Sud-Ouest de la Floride, le choix serait vite fait. Sans compter le climat.
Voici quelques exemples de propriétés qui sont a vendre a l’heure ou j’ecris ceci, soit le 6 Octobre 2012 et qui pourraient etre vendues suivant le moment ou vous lisez:


Maison a vendre sur 2000m2 de terrain

Maison a vendre sur 2000m2 de terrain


Ci-dessus est une maison typiquement Floridienne et est une saisie bancaire. Sont prix est de 31.000 Euros. 4 chambres et 2 salles-de-bain sur 2000m2 de terrain. Prix de location possible: entre $600 et $800 par mois moins les 10% de frais de gestion. La valeur de croissance actuellement est de l’ordre de 12% l’an mais je pense que cela ne va pas durer, pour revenir a une croissance vers les 7% l’an.

lehigh-acres-foreclosure
Pour 15.000 Euros de plus, voici une autre saisie bancaire avec sensiblement les memes option que la premiere. Comptez un revenue locatif entre $700 et $850 par mois, toujours moins les 10% de frais de gestion.

Maison avec piscine

Maison avec piscine


Des qu’une propriété possede une piscine, les prix s’envole. Il faut dire que la construction d’une piscine simple comme celle-ci est de $20.000. Donc, cette maison a un prix demandé de … 70.000 Euros. Valeur locative vers les $900-$1.000 par mois moins les frais de gestion (10%). De plus, ici en Floride, les maisons avec piscine ont une forte demande.

Maison a deux étages a vendre en Floride

Maison a deux étages a vendre en Floride


Pour 84.000 Euros, on entre tout de suite dans la game du massif. 210m2 de maison avec un garage pour 3 voitures. Si vous n’avez pas 3 voitures, vous pouvez toujours y mettrent 1 ou 2 jet-skis.

Maison a vendre avec piscine et jacuzzi

Maison a vendre avec piscine et jacuzzi


Cette maison est dans la game de luxe deja. Et pour son prix de 112.000 Euros, la piscine possede également un jacuzzi.

Luxury home for sale in fort myers with gulf access

Luxury home for sale in fort myers with gulf access


Evidement, il y a aussi le tout grand luxe. Voici par exemple une maison de 380m2 avec piscine, jacuzzi et acces a la mer (si vous etes un marin) a partir de votre jardin. Prix demandé: 920.000 Euros. Revenu locatif vers $10.000 par mois ou $2.500 par semaine en saison.

Si vous avez des projet d’investissement sur la Floride, vous pouvez entrer en contact avec moi pour discuter vos options. Si vous etes un investisseur passif, vous pouvez adherer au Thomas Equity Group. Ou pour tout autres renseignement, contacter moi au 001-239-240-3283

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Comments (0) Oct 06 2012

Real Estate Staging

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virtual staging software

virtual staging software

As a real estate investor, there are several important factors you have to bear in mind when you are planning to improve your business. The most important of these is the best marketing strategy for your investment. In the past, real estate investors relied on some very ineffective methods to market their property. However, today the process has changed with more effective marketing methods emerging everyday. The latest property marketing concept is virtual staging. This process heavily relies on the internet to reach out to the ever-growing online community. Therefore if you have plans of venturing into the lucrative industry of property investment, then you have to learn one or two things about virtual staging.

Let’s face it, it’s way cheaper to stage an empty home using a virtual staging software like this one than renting all the furniture. You can save it on a CD-Rom and give them to your clients and potential buyers.

For starters, you cannot expect your property to sell if it is not easily accessible to your potential buyers. That is why you need effective marketing strategies such as virtual staging to make the property known to the largest number of target buyers. The good thing about virtual staging is that it makes it easier for you to make potential buyers aware of your property. Virtual staging is better than the traditional home staging methods since it does away with the unnecessary expenses incurred in the traditional staging processes. For instance, with virtual staging you do not have to rent furniture for staging because your virtual staging expert will incorporate high quality furniture in the photos of your empty property. What is more, these experts know how to design their photos so that they can look 100 percent real. Most virtual staging companies today use high-end programs to design their images, allowing you to make your house look exceptionally stunning. Consequently, you will have a chance to make the most out of your investment. Remember, most home buyers are interested in homes that promise them luxury and comfort.

Virtual staging makes for great promotion collateral. It is not wise to waste money producing brochures with pictures of an empty property. Virtual staging services will help you make your property look attractive and valuable without any additional cost. Virtually staged homes will always look appealing to the buyer, giving you a chance to sell your property faster and make more profit. Also, virtual staging gives you the liberty to be as creative as you can be in designing your property for promotion. It is very easy to incorporate expensive features in your property so as to entice the buyer.

Obviously, another noteworthy point about virtual staging is the speed with which it allows you to sell your property. The way you promote your property highly determines how fast it will sell. Online virtual staging exposes the property to numerous buyers from different parts of the world, making it easier for you to sell. With virtual staging services, you will be able to create the best impression without incurring extra expenses present in traditional staging methods. Virtual staging is also available for rental properties. You can make your rental properties look expensive by hiring the best virtual staging expert.

Looking for a staging solutions without spending big bucks? Make sure to check this virtual staging solution which a perfect DIY for novice like me.

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Comments (0) Sep 16 2012

When a bank is willing to lose money

Posted: under Real Estate.
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fort-myers-clarion-hotel

fort-myers-clarion-hotel

By now, we all know that the Fort Myers Clarion Hotel has been sold.
In 2011, the owner, an Indian group, stop the payments on their mortgage and the Bank, the fifth third bank, took over. They hired WALNUT & VINE PROPERTIES I LLC which is the company who use to handle the Fifth Third Bank commercial foreclosures. So far, so good.
WALNUT & VINE PROPERTIES I LLC hired then Janus Hotels Management to manage the property while the foreclosure took place.
The fact that this hotel was foreclosed upon was public domain already and an interest to purchase was born here and there. Personally, I had 2 prospects who were willing to make a letter of intent to purchase the hotel. Both were in the $4 millions range for a 192 rooms hotel with pool, restaurant and tiki bar.
However, I had never received any news, when I was able to contact someone handling the case. A lack of cooperation was evident.
Now, CLARION REDEVELOPMENT GROUP LLC, a company owned by Creighton Development is the proud owner of that property and paid $3,300,000 for it to the bank.
So, it is still not clear why a business focused on making as much money as possible, a BANK, is knowingly willing to pass on $700,000.
Of course, I don’t say my 2 clients would have buy it. But at least, I would imagine the bank to review all offers or all interest that buyers out there may have.
I have seen people willing to earn less money than they could but for a bank, it was my first time :-)

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Comments (0) Sep 11 2012

Investir a Cape Coral, en Floride

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C’est vrai. J’ai recu un coup de fil de France d’un de mes clients. Il a acheté une maison ici à Cape Coral, avec une piscine et qui se situe sur un canal qui donne sur le golf du Mexique. Belle propriété de 3 chambres et de 2 salles-de-bain.

C’est vrai ce qu’il dit. Il m’a téléphone pour me faire part de ses calculs au niveau rentabilité de son investissement. Il explique et démontre ce dont il s’agit:

Il a acheté cette demeure l’année passée pour 200.000 Euros, soit à l’époque, $268.000. En effet, il me rappelle que le change était de $1.34 pour 1 Euro au moment de l’achat. Aujourd’hui, au meme prix, mais avec le taux de change actuel, cette maison vaut 216.129 Euros. Donc, sans rien faire, il a déjà fait une plus value de 16.129 Euros.
Mais, le marché immobilier étant repasser à la hausse depuis cet achat, sa propriété a connu une augmentation de sa valeur de 7.35% l’an, ce qui représente une augmentation de valeur de $19.698, soit au taux d’aujourd’hui, 15.885 Euros.

Bref, cet achat lui rapporte 32.014 Euros pour l’année écoulée, soit un 16%, moins les frais des 3 voyages effectués pour son loisir, soit a peu pres 8.000 Euros selon lui (“Je n’ai plus d’hotel à payer” dit-il).
Prendre 3 fois des vacances en Floride et retourner en France avec 24.000 Euros en plus dans sa poche est ce que j’appelle faire un bon DEAL :-)

Si vous voulez, vous aussi, parié sur une baisse de l’Euro, de mon coté, je peux maintenant vous guarantir une augmentation des prix immobiliers pour les 5 prochaines années. Donc, n’ hésitez plus et appelez moi au plus vite pour vous faire de l’argent. Je suis au 001 239-240-3283 ou a info@1capecoral.com

Francophones de Cape Coral

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Comments (0) Jun 02 2012

Facebook Vs Real Estate

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Like a lots of people, I had an eye on Facebook regarding the IPO. Even if I’m not into investing on Wall Street, having no knowledge, I was just curious what could be the outcome of it. It was definitely the talk of the town, if not the talk of the planet in this case :-) .

I put these 2 widgets side by side, so I can compare how is reacting the Facebook share and the Cape Coral Real Estate. The future will tell if it was better to invest in Real Estate or in facebook :-)
Maybe this can be useful for other investors as it is for me.


Those values are updated live, so you get the real picture here.

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Comments (0) May 23 2012

About Low Ball offers for a Cape Coral Property

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The basic of a Real Estate transaction is obviously a seller willing to sell to a buyer willing to buy. Once you have those terms agreed upon, you are half way to closing.

But if the seller have to settle for a low ball offer from a buyer, everyone involved in the deal may lose time and money. This is where a clever agent can use valuable skills to negotiate the deal and make it happen all the way to the closing.

One thing I use to do is really showing the temperature of the market to  my buyers. I think it is important that they acknowledge how the today’s Real Estate market in Cape Coral is reacting to. I compare sold pricing instead of listed pricing, and this can be valuable to sellers as well in order to ask the right price instead of waiting an offer forever. Once my buyer understand the market, of course, it is ultimately their decision on what to put in their offer. But at least they know the potential result.

Also, I like to compare what’s comparable. I recently visited a seller. It was a “by owner” and his price was close enough to what the neighborhood was asking for. However, the features of his home were very different and a realistic price should be much lower. That’s why it’s still for sale with no showing today, after months on the market. So, I show only similar features home for comparing and make a wise decision about the offering price.

Low ball offers usually waste buyers’ time. And that time is valuable. If a buyer is offering low ball offers on 20 properties and getting denied each time, offering a decent price at the first one would most likely had given equity by now to that buyer. Not only he had money in the property, but he is an owner instead of nothing, hoping for “the best deal” to happen. Make low ball offers if you don’t need to buy, not if you are looking for a roof to live under.

Now, if you see a property bought around 2005-2007, when the Real Estate was at peak, chances are the seller is selling at lost. He knows that and it is already difficult for him. Showing a low ball offer right there is to shoot yourself in the foot. This is something I have the need to emphasize for the health of a transaction. Sellers are people with families they have to take care of, not just a number. Ultimately, again, my buyers have the last decision about their offer.

Low ball offer

Low ball offer

But let me tell you something that happened in the last few months when a buyer from Pennsylvania emailed me asking for a “good deal” foreclosure. I had several of them and even if I explained that the market is bouncing back, often with multiple offers, this buyer wanted to get a bargain in a location where everything was dirt cheap.

I found a nice pool home located in the SE of Cape Coral with access to the gulf of Mexico. It was a foreclosure well priced at $179,900. He told me he would pay that price when he saw the other similar sold properties I sent to him. But he wanted to “grab a deal” and he made an offer at $150,000, hoping a counter offer in the mid $160K from the bank. The scenario I told him just happened. They was a counter offer, but to another buyer who offered $175,000 and who ultimately close on that property. At this time, there is no more gulf access pool home in SE cape under $200K. No need to say the buyer made an easy $25K equity in one month. My buyer? He closed on a lovely property with a nice pool for $195,250. He does not have access to the gulf of Mexico. He’s on a fresh water canal. He knows he missed it.

So, if you are thinking of low ball offers, just know what to expect. And don’t make me wrong, I make low ball offers myself time to time, but I don’t have to buy. If I close it, great. If not, oh well, next…Not a big deal :-)

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Comments (0) Apr 25 2012

Buyer’s market or seller’s market in Cape Coral Real estate

Posted: under Cape Coral.
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The number of foreclosure has hit the its lowest level. Today, when I checked those bank owned properties for Cape Coral, there were only 214 units. For your information, there were 1085 in December 2010. And that’s most likely why we see more interest in the non distressed market, often with multiple offers.

All is all, there are 1774 properties for sale in Cape Coral and we have experienced 451 sales in the last 30 days. That’s mean we have about 3 months inventory out there, making it a seller’s market now. And if you add the fact that multiple offers occur more often now, buyers have a harder time to have their dream home under contract. That is exactly what my french speaking buyers from France experienced. They use to make a search online for ” maisons a vendre a Cape Coral “, find me there, give me a call to begin the search and get very frustrated after looking around for a few weeks, seeing nothing good is available anymore.

Cape Coral luxury foreclosure

Cape Coral luxury foreclosure

The thing is, today, if you plan to buy a property here, be prepared. Get your financing handy, bank letter, pre-approval. And once you see a property you like, make that offers good enough to have the seller put his signature on your contract. Unfortunately, if you don’t act quickly, chances are the property will be pending before you realize it. Prices are still the lowest in the nation here, especially if you compare the amenities that Cape Coral is offering with cities in the middle of Tennessee for example. Not only the weather is more attractive, let’s face it, but also the proximity of the water, with the gulf of Mexico and the beaches.

So, in my opinion, 2012 shows the switch from a buyer’s market where sellers were waiting for a single offer to show how low was the price offered to a seller’s market where the buyers are competing so ferociously to have a chance to buy that property at often a price above the asking price.

If you are entering the market for selling or buying a property in the Cape, give me a call or send me an email. There is still time to find your dream house at an excellent price, but don’t delay.

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Comments (0) Mar 25 2012

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