Michael Kara Selected to be Buying Broker for a Large Investment Fund
ORLANDO, Florida - October 19, 2012 - RE/MAX Exclusive Collection announced that it is leading a brand new buyer campaign of single family homes throughout Central Florida at the behest of a private investment fund looking for properties in the region. RE/MAX Exclusive Collection CEO Michael Kara was selected to be the buying broker for the investment fund, which has so far raised over $300 million.
“This is an incredible opportunity for sellers, and really for all of Central Florida,” said Kara. “The amount of homes we are looking to purchase is going to help drive up prices in the region and move inventory.”
With a goal of purchasing a total of 2,500 homes throughout the Central Florida area, any home that meets the specified criteria is being considered. Specifically, these are single-family homes, dated from 1995 onward, that are between $70,000-170,000 in price. Additionally, desired floor plans are to feature at least three bedrooms and two bathrooms, and a minimum lot size of 1,100 square feet.
“We want to stress that we’re looking at everything, from regular listings to distressed properties,” said Kara. “These are serious investors making cash offers at fair market value or higher. And right now, the inventory is limited.”
If you have a home that you believe fits within the specified criteria, don’t hesitate to contact us! We have created a quick contact form that can easily be filled out for more information.
The overall goal of the investment fund is to renovate homes where needed and establish them as rentals with new tenants. The homes will be rented out for a minimum of five years, giving investors time to evaluate their purchases and consider whether to continue renting them out or return them to the market.
RE/MAX Exclusive Collection is a boutique real estate company based in Orlando that specializes in luxury homes and the luxury real estate market. Michael Kara has worked for over eleven years in the Central Florida market, and is ranked within the top one percent of real estate brokers in the region.
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