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Wholesale Properties

Thanks you for reaching blog. Our list of Wholesale Properties and Wholesale Real Estate has moved to it's own database here is the link (www.zitrof-wholesaleproperties.com). The new site houses a database of wholesale, rehab houses, Bank Owned Properties and other great real estate deals. The new site does not charge to list these properties, and you don't need to sign in or create an account to browse the properties for sale. There is nothing for sale other than Great Real Estate deals - It's FREE to list your property, and FREE to browse the properties.

If you found this page by random accident and don't know what a "Wholesale Property" is, here is the quick run-down.

Wholesale Real Estate are properties that have considerable equity available to the buyer, basically sold under priced.

Generally wholesale properties are real estate that has been purchased by an investor (or locked down) and are being resold. Most of the time these properties were purchased as distressed properties or in a bulk real estate package.

Rehab Houses and pretty much properties that require some repairs. There are several reasons why these properties are sold at discount prices. Most Lenders will not finance properties that need substantial repairs, unless you are using a Hard Money Lender. Generally if the rehab property requires roof repairs, suffers from mold damage or termite damage, your typical bank will not finance, therefore the property is sold at a discount price for a real estate investor to purchase and make the repairs.

Bank Owned Properties are real estate that has been foreclosed by the lender, and now sold as an REO property. Most of the properties have been listed for sale by the asset manager, working for the bank. These properties are also great values, but might need some cosmetics repairs. Normally these properties can be financed using FHA, VA, or conventional mortgage loans.

Start Searching Wholesale Real Estate by selecting the appropriate State.

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Wyoming,

Investors Delight - Income Properties

Premier Property Solutions LLC
2529 Kingsland Avenue
Orlando, FL 32808
Cell 407-230-3362 / Office 407-282-8546 / Fax 407-282-8558

Investors,
 
We’ve been getting lots of requests for income producing properties in strong rental areas.  Please check out these three deals and let us know which one fits your criteria.  As always, we can assist with investor financing, setting up rehab crews, referring property management groups, and recommending exit strategies.

AVAILABLE
DUPLEX – SUPER CHEAP!
1007 18TH STREET
ORLANDO, FL 32805
2 BEDS / 2 BATHS
CONCRETE BLOCK / 1188 SQFT
BOTH SIDES ARE VACANT AND NEED UPDATING
EACH SIDE SHOULD RENT FOR $500 PER MONTH
ASKING $50,000

 
AVAILABLE
CITRUS BOWL AREA
1011 RANDALL STREET
ORLANDO, FL 32805
2 BEDS / 2 BATHS
FRAME / 888 SQFT
ONE SIDE IS CURRENTLY RENTED AT $450/MONTH
THE OTHER SIDE IS VACANT
ASKING $35,000

 
AVAILABLE
Assumable and Seller Financing Available!
Here’s an 8 Unit Apartment Complex for those of you in search of a small multi-family investment.  The complex consists of four concrete block buildings with two units in each building.  Each unit has 3 beds and 1 bath (the county has them listed as 2/1’s but they are true 3/1’s), updated kitchens, newer tile floors, newer paint, etc.  Most tenants supply their own appliances.  Each unit is metered separately for water and electric and tenants pay rent monthly.  Each unit currently rents for $625 per month which is low for being 3/1’s.  This property appears to be a strong Section 8 candidate which could be a great way to maximize rental income.  The property is located off Orange Blossom Trail near the Citrus Bowl.  Please call for address.
 
The current mortgage of $340,000 may be assumed.  The note is a 3 Year ARM at approximately 7.5% Interest, 30 Year AM.  Please look at these Current and Pro Forma figures:

Purchase Price:                               $450,000
Assumable Financing:                     $340,000
Seller Financing:                              $ 40,000
Cash to Close:                                 $  70,000

Current Cap Rate:                            9.6%
Cash on Cash Return:                     16.4%
 
At an 8.0% Cap Rate, this property is valued at $542,500

CURRENT FINANCIAL ANALYSIS:
 
Gross Potential Income:                    $60,000 (Rental Rate of $625/month)
Less 5% Vacancy Allowance:            -$ 3,000
Gross Operating Income:                  $57,000
 
Real Estate Taxes:                            $  5,600
Property Insurance:                           $  2,000
General Maintenance:                        $ 6,000
Total Operating Expenses:                $13,600
 
Net Operating Income:                       $43,400
Less Debt Service:                            $31,982
Annual Cash Flow:                             $11,472
 
PRO FORMA FINANCIAL ANALYSIS:

Gross Potential Income:                    $67,200 (Rental Rate of $700/month)
Less 5% Vacancy Allowance:            -$ 3,360
Gross Operating Income:                  $63,840
 
Real Estate Taxes:                            $  5,600
Property Insurance:                           $  2,000
General Maintenance:                        $ 6,000
Total Operating Expenses:                $13,600
 
Net Operating Income:                       $50,240
Less Debt Service:                            $31,982
Annual Cash Flow:                             $18,312
 
Pro Forma Cap Rate:                         11.2%
Cash on Cash Return:                        26.2%

At an 8.0% Cap Rate, this property would be valued at $628,000
ASKING $450,000

 
 
Ben Yonge

Premier Property Solutions, LLC

2529 Kingsland Avenue

Orlando, FL 32808

Office - 407.282.8546

Fax - 407-282.8558

Cell - 407.230.3362