Port St Lucie, FL - Welcome back Investors!
For our many investors on the fence, here are some staggering numbers to show you just how rewarding Real Estate investing can be.
Here in Port St Lucie, FL, 5 years ago, we were the investor capital of the country with home prices on 3/2/2 going in the low 200's to high 200's. These same homes today can now be had for around $90,000.
Just today, I spent all day previewing and selecting homes for an investor from North of the border where investors from Canada have realized just what a HUGE bargain we truly are and what a great return we can bring.
We selected 7 homes for him and from the purchase price, repairs, taxes, insurance, mgmt fees, and the current rental rates, this investor will be making a low of 6% rate of return annually and a maximum of 11% rate of return. And this doesn't even take into account the equity that will likely accumulate over the next few years as our economy recovers.
Let's try this with just 1 great example:
Purchase price: $95000 TURN KEY READY TO RENT Taxes, Ins, mgmt fees $5640 for a Net of $8760 or 9.22% Rate of return. And this doesn't account for any equity which is likely over the next 5 years as our economy recovers. And this is a 2007 home, so virtually new, and should need minimal repairs or maintenance. NOW DO I HAVE YOUR ATTENTION?
If you have any questions, please just request the spreadsheet we prepared on his purchases today and we will be glad to share the facts.
And as of today, Aug 31st, Zillow reported that Port St Lucie Median home prices have rose from 106K to 118K over the last quarter.
Another great indicator is in one particular neighborhood, East Lake Village, which is a home and townhome community and one of our biggest investor and rental communities, over the last 90 days has seen sales in excess of 40 units leaving under 6 townhouses and 8 homes remaining on the market. And the great thing about this area is all homes are less than 5 years new, and the townhomes sell from $52,000 to $70,000 and return rents averaging $1000 monthly and the homes range from $85,000 to $120,000 and bring rents from $1200 to $1400.
Now, you may ask why buy rentals? Well here is what we call "THE PERFECT STORM" of real estate... for the last 5 years, our market of Port St Lucie, FL has been predominantly distressed properties and Short Sales. The side effect of this is now we have many homeowners who are losing their homes but cannot repurchase for 2 to 7 years based on their personal financial situation. All of these short sales present as fantastic bargains to the purchasers or investors, and create a new rental client with each sale.
Over the last 5 years, we have watched our rental inventory diminish constantly until now, we have areas that 5 years ago had 300 rentals at any given time on the market that now has under 16 today. The demand is so high, if our office takes a new rental, we only need advertise in house to have a list of renters in line for it.
So let's recap, Short Sales or Foreclosures = Fantastic bargains for investors. Short Sale or Foreclosures = new rental client for minimum 2 years. And today's low prices = 7% rate of return or higher potential rental income not including equity.
With the best sales activity in over 5 years, we are finally feeling the turning point and we are inviting our many investors back on the ground floor of what we hope will be yet another prosperous cycle. Think about the numbers... if we recover just to the halfway point of 2005, that would be 500% profit over the current purchase prices.
Where else can you invest money with this kind of potential return except in real estate and where better than the investor capital of the United States from previous years and that is Port St Lucie, FL?
Just take a look at the community of Tesoro Preserve in Port St Lucie, FL if you have any doubt of what TRUE BARGAINS look like: http://actvra.in/cdB.
Take a look at these current listings in Port St Lucie, FL and see for yourself what BARGAINS we have here in Port St Lucie, FL:
http://www.ISellPortStLucieLand.Com
As Certified Distressed Property Experts, myself and my team are standing to assist you in purchasing your personal piece of PARADISE.
We have successfully assisted sellers to short sale many of these properties this year to give new investors the opportunities of a lifetime allowing us to sell these properties as low as 90% off retail. And we have made many investors proud new owners this year at the same time of true BARGAINS.
Call us today and let us help you to either sell your distressed property or if you are ready to purchase, then please call us today to make your Real Estate Dreams become reality.
Call today and we will send you a complete sales report of any neighborhood in Port St Lucie so you can see the statistics for yourself.
Kevin B Tolbert, PA GRI
Certified Distressed Property Expert
Keller Williams Realty of the Treasure Coast
Direct: 772-834-0099
Office: 772-419-0400
Fax: 772-419-0601
Email: kbtolbert@gmail.com
Web: www.SearchforSouthFloridaHome.Com
Web: www.ISellPortStLucieLand.Com
Blog: www.activerain.com/blogs/kbtolbert
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