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Still Dealing in Distressed Property

By
Real Estate Agent with Morris Williams Realty

What a time to be in Real Estate.

THere are so many deals, so little time.

I am still operating as a buyers agent for investors, that is what we do at Developers Capital Realty, LLC

Our days involve sorting thru the various emails and Fed Ex packages that come in every day. I want to thank Active Rain for the opportunity to let like minded professionals know that we are actively pursuing deals.

Pictured with me is the Famous Broker Bryant. He is doing preliminary research with us on a subdivision in his area that a client of ours is purhasing. We met on a day that was very windy, and  I notice that my hairstyle is more reactive to the wind. By the way, this subdivision is in the Kissimmee/ Poincianna Area, its called Doral Point.

We do hope to be closing on the subdivision in June, and are under contract on a few other large deals as well. We do hope to work with Broker Bryant and TLW for marketing this subdivision, there are 166 lots and 8 finished homes that will be ready to sell soon. Unlike many subdivisions we have found, this will be marketed very strongly to Realtors. Due to our distance away from the project, we will rely on the expertise of Local Experts like Broker Bryant Tutas to handle the sales of all these lots.

Developers Capital Realty is working closely with hedge funds and individual investors on deals of most any size that makes sense. I appreciate all the emails and deal offers so far, we promise to look at most any investment grade opportunity.

Thanks to some early support from Broker Bryant, I came to Active Rain nearly a year ago and feel like this is home. I welcome any emails or comments.

Best Wishes to ALL in our Field!!

S W
Seattle, WA

You guys look like your'e having fun!! Good luck on the subdivision!! Hopefully the current will turn soon. You're in good hands with Broker Bryant...

:)

May 10, 2008 10:06 AM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group

Sara..Thanks for the comment..I have a wish for our industry of just back to normal...it has now been nearing 3 years since the peak and I see what the crazieness did to our business, what it in fact did to our country....Affordable housing is the call to action at this point...we are purchasing subdivisions and will sell the lots thru affordable housing...Broker Bryant has been one of the first to recognise that ever increasing prices will leave an ever increasing number of families in a permanent rental situation

May 11, 2008 06:10 AM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group

Andrew...We do look a bit ...wellllllll..........wel we look like ..who knows, what we look like..but trouble could be brewing....  It may be a smile...we were dealing with a very windy situation...I just know we started what might be a virtual Real Estate Dynasty with that one meeting

May 11, 2008 06:30 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Hey Mike.....great picture. I'm glad I'm standing behind you so my stomach looks smaller! Hurry up and close on that sucka......I need something to sell.

May 11, 2008 09:11 AM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group

Hey Bryant, you need to tell me where you shop, I need shirts like that

May 11, 2008 11:36 AM
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

You two bear an uncanny resemblance, perhaps it's just the sunglasses:-)

May 13, 2008 07:16 PM
Henry B. Torn
First Look Properties - Chicago, IL

Gentlemen,

 

I desperately need SFR developments with significant discounts by the developer and or bank/mezz lenders for my client. They only do Bulk acquisitions with an excellent Rent to Own exit strategy. No maximum. Bread and butter homes though under $300K Retail.

Anything fit this acquisition criteria. Please advise and thank you for your consideration.

 

Jun 10, 2008 11:23 AM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group

Henry, do I have a few great deals for you!! I spent Monday looking at five more subdivisions in default, we are putting together the numbers for a bid by this Friday...Moving Fast with cash is the only way to grab these super, super deals..We just put a industrial park under contract for 50 cents on the dollar...

Developers Capital Realty gets more and more good deals daily..

Jun 11, 2008 12:00 AM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group

Henry, do I have a few great deals for you!! I spent Monday looking at five more subdivisions in default, we are putting together the numbers for a bid by this Friday...Moving Fast with cash is the only way to grab these super, super deals..We just put a industrial park under contract for 50 cents on the dollar...

Developers Capital Realty gets more and more good deals daily..

Jun 11, 2008 12:00 AM