We have taken the liberty of posting this directly since we have a time-sensitive proposition for all Active Rain members.
This week we were asked to dispose of a portfolio of real estate assets by an owner that has emphysema and possibly lung cancer. He knows he has a short time. He has various parcels of developed land along with several luxury homes. His total assets are appraised at $8.131M and he has offered the entire portfolio to us for $5M.
There are two sub-divisions of developed land with all the services in place which we have to sell at 60% of the market value. Selling these on as they are will realize a substantial profit, however for one with the cash to develop the lots, the potential gain increases substantially.
All the properties are located close to Asheville and Charlotte, NC which as you may know, is one of the fastest growing metropolitan areas in the entire country.
In the light of the fact that our seller is in serious ill-health and is willing to accept such a significant discount on his portfolio, we are seeking an investor who is willing and able to contract on these properties at the earliest. We apologise too in advance if this is not the appropriate place to let the members know.
First come, first served they say. Call Kevin now on 828-286-7885 or email at kevin@o-grady.com .
Good luck with this. It sounds like a great deal.