Current Real Estate Opportunities:

1. Residential Town Home in Ballantyne Area of South Charlotte:

• Property is in foreclosure and in good condition, in a complex with a pool and club house, close to top school in the region.
• We would consider an offer to the sellers of $105,000, and budget for repairs of $15,000;
• Repairs would inlcude re-painting, re-flooring, repairs to minor water damage at back sliding door, back garden (small) landscaping;
• Expected sale value would be $150,000 to $160,000; expected lease value would be $1,100 net of Home Owner's Association levy;
• Timing from Offer to Close Out (Sale or Lease) would be 3 to 4 months.

2. Commercial Office Block in Matthews, South Charlotte:

• Double story building with 23 small office suites, approximately 25% leased out at present. Building is in foreclosure but in good condition, superb location close to major arterial. Building covers only about one third of the available land;
• We would consider an offer of $500,000, with a commercial mortgage of $375,000 and a cash investment of $150,000 - $125,000 down payment on mortgage and $25,000 towards closing costs and working capital to bring in more tenants;
•  Current rental income amounts to approximately $2,000 per month, enought to cover the mortgage interest at 5%. Office suites rental is very attractive to small business tenants, so expect to increase rental to $4,000 quickly. Cash flow positive from Day 1!
• Expected value of building fully let would be at least $700,000 at 7.5% cap rate, with potential to sub-divide or build on to the extra land.
• Time from offer to closure would be 1 to 2 months.

For more information and references please contact us : info@wealthdesign.biz