Monday, November 27, 2006

Florida business deal

Are you looking for a business deal to be a part of? How about investing in real estate in Florida? More specific, how about affordable housing, duplexes in SW Florida? SW Florida real estate is booming right now, which is great for all those who are investors. It does make it hard for the hard working Mom and Pop who are trying to find affordable housing. Here is where you come in....the proposed investment opportunity is for duplex housing in the cities of Lehigh Acres and Cape Coral in Southwest Florida. Currently the all-in cost of the duplex project is approximately $285,000. The cost includes the land, building, and site improvements, closing cost and interest during construction. Make NO PAYMENTS DURING CONSTRUCTION. The cost of the project can be financed with a construction loan at 85%-90% of appraised value. (LTV) The current market price of the duplex today is between $325,000 -thus providing the investor with built in profit before construction begins. Because the market value is more than 10% higher than the necessary loan, this is done with very little money out of pocket which can be as low as just $1500 or as high as $5500. It might be worth checking this deal out....good luck!

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