FOUR CORNERS, DISNEY, FLORIDA

Size: px

Start display at page:

Download "FOUR CORNERS, DISNEY, FLORIDA"

Barnaby Fleming
5 years ago
Views:

1 FOUR CORNERS, DISNEY, FLORIDA Investment Proposal Proposal Ref: 2011FL27 Tags: Florida, Cash flow, Disney, Rental Yields Date: December 2011 Aston Eaves 26 York Street, London, W1U 6PZ astoneaves.com t t

2 FOUR CORNERS, FLORIDA, USA 9.7% net yielding investments 70% discount on 2007 prices Prices from 46,000 ($73,000) Cash flow positive investments Fully managed, hands off investment Fully turnkey - nothing else required Full USA assistance provided Aston Eaves 26 York Street, London, W1U 6PZ astoneaves.com t t

INTRODUCTION 9.7% Yield, 46,000 ($73,000) - Dream Homes, Blessing Drive, Four Corners, Florida, USA 27 units, all like the one pictured above are available at fire sale prices.

3 INTRODUCTION 9.7% Yield, 46,000 ($73,000) - Dream Homes, Blessing Drive, Four Corners, Florida, USA 27 units, all like the one pictured above are available at fire sale prices. These will be snapped up as the units are new, modern and clean. The Chinese, Canadians and Americans are investing heavily in key locations of Florida that will bounce back and at this price of 46,000 for a 3 bed, 3 bath house with a swimming pool, you would be disappointed to miss out on such a rare opportunity. The developer has decided to not put these on the open market due to previous clients who have bought and are worried about their property prices being diluted. Instead, appointed realtors in Florida have been given the genuinely easy task of offloading these superb investments. We have brokered a deal with a key partner in Florida and have assumed UK exclusivity for these 27 low cost, high yield, high growth units. REFERENCE #2011FL27 I ve bought 4 investments in Florida and so far, they re all performing very well. Nigel Aspey, Dorset PAGE 3

DREAM HOMES, FOUR CORNERS Location The 27 investment units are located in the four corners area, only 7 miles from Disney and easily accessible from three airports including Orlando International

4 DREAM HOMES, FOUR CORNERS Location The 27 investment units are located in the four corners area, only 7 miles from Disney and easily accessible from three airports including Orlando International airport.they are zoned as residential and short term rental, so the landlord can either put long term tenants in them or rent them to vacationers. Amenities The development is located within easy driving distance of Orlando s international airport and major retail venues such as the Mall at Millennia, Florida Mall, Premium Outlets ( formally Beltz ) and the Premier Outlets are all very accessible and can be reached easily with a short drive. The development itself shares a Clubhouse that has a fully equipped business center, meeting room, fitness center, resort style pool, game area, indoor/outdoor café, a bar and a concierge. Local Attractions Nearby, you have a golf course, fishing, boating and equestrian activities. The development is surrounded by nice parks and pristine beaches. Cultural experiences at museums and historical landmarks are located within the city of Four Corners or play at the world s most famous vacation attraction Disney World, only 10 minutes away. PAGE 4

5 PROPOSAL SPECIFICS WHERE IS THE LOCATION OF THIS INVESTMENT? Blessing Drive, Four Corners, Florida, USA WHAT STAGE OF BUILD IS IT IN? The build was finished in 2007 by the developer. WHAT IS THE SALES PRICE PER UNIT? 46,000 ($73,000) WHY CAN T I BUY IT FROM THE DIRECTLY FROM THE DEVELOPER? The developer has appointed key realtors to assist in the fire sale. Via our USA partners, we are the only UK agent that has access to these for UK and European buyers. HOW MANY UNITS ARE THERE? The total original availability was 140 units. There are now only 27 units available directly from the developer at fire sale prices. ARE THERE ANY PARKING SPACES? Yes. Allocated outside parking for two vehicles per unit. ARE THE DISCOUNTS REAL? The original 140 units were all sold out at the 2007 prices of $250,000 to $300,000, with significant deposits paid down on the homes on an off-plan basis prior to However, 27 of the buyers were unable to raise finance due to the sudden withdrawal of credit during the financial crisis and now the developer has decided the best way to exit is to do a quick sale on these distressed units. WHAT KIND OF UNITS ARE THEY? They are all 3 bedrooms and 3 bathrooms townhouses. The total internal space is 1390 sq. ft. and they all have a private in-ground pool as shown in the images below. The houses feature ceramic tile in the entry foyer, kitchen and bathrooms, and luxurious wall to wall carpet throughout the rest of the home. High 9 foot ceilings (2.7 meters) enhance a feeling of spaciousness as do large closets and generously proportioned rooms. Details such as window treatments, decorative baseboards, paneled interior doors and individually controlled high air conditioning systems are the finishing touches. The houses come with a complete appliance package including a dishwasher, refrigerator/freezer, microwave, electric range with oven and a washer and dryer set. All kitchens feature double stainless steel sinks and some floorplansofferacenterislandwithcabinets and a breakfast bar. Smoke detectors are installed throughout the unit. PAGE 5

6 PROPOSAL SPECIFICS ARE THERE ANY DISABLED FACILITIES? All the houses have a ground floor and a first floor. The access to the upstairs is via a staircase which you may adapt for wheelchair users. ARE ALL 27 UNITS READY TO RENT OUT? The majority of the units only need minor cosmetic repairs: paint, carpet and appliances. The 46,000 ($73,000) purchase price includes reserves to get the units in a like new, rental ready state. Of the 27 units, 4 units need repairs to the balconies from water intrusion. We may sell these at a lower price of 41,000, but we are currently awaiting the inspection report on what works are required. CAN I GET A BUY-TO-LET MORTGAGE TO BUY THIS? In normal circumstances, yes, these would be mortgageable. However, since this is in effect a short sale, the developer is looking for cash buyers. Once the Florida property market picks up and lending is eventually accessible, then we do not anticipate mortgageability being an issue with these houses. Please note, we are not financial advisors and cannot offer advice on mortgages. WHAT KIND OF INVESTOR BUYS THIS KIND OF PROPERTY? This will suit investors, holiday home owners and vacation rental investors. From a cashflow perspective, those who want a hands-off investment, with little or no involvement, providing excellent rental yields at circa 9-10%. Generally speaking, investors should be looking to utilise this investment to provide a medium to long term rental income with minimal effort. CAN I SELL THIS AT ANY TIME? TO WHO? WHAT ARE MY EXIT STRATEGIES? Since these particular properties have been cleared for both residential and vacation purposes, you are in an excellent position to exit and sell to a wider range of buyers. The market for such low priced and good quality property is buoyant regardless of the general market conditions and we expect some of the 27 units to be sold by the time you have finished reading this proposal. IF THEY RE THAT GOOD, THEN WHY AREN T YOU KEEPING THEM? We can t keep everything that we come across, due to obvious financial restrictions. Our business is in brokering good deals for our clients to generate wealth and then they come back to us and repeat business. CAN I GO AND VIEW THE PROPERTIES? Of course. We will either be there to show you around ourselves or we will get one of our partners to meet you and show you the development. Our consultancy fee of 995 does not mean you are committed to the sale, so the pressure is off and we leave the decision to you whether you wish to go ahead with it. PAGE 6

7 DETAILED IMAGES Typical view of external From the upstairs balcony Downstairs living room Downstairs living room views Typical dining and kitchen Typical kitchen appliances PAGE 7

8 DETAILED IMAGES Typical Master bedroom Guest bedroom Secondary guest bedroom Views from the balcony space View into conservatory / pool Conservatory and swimming pool PAGE 8

FLOOR PLANS More floor plans can be made available on request. Please email one of our consultants.

9 FLOOR PLANS More floor plans can be made available on request. Please one of our consultants. All plans and elevations are artist renderings and may vary somewhat in precise detail and dimensions. All measurements are approximate. PAGE 9

10 DEVELOPMENT PLANS The above shows the current available units. Each plot has 4 units contained as shown below. PAGE 10

11 THE FINANCIAL RETURNS Purchase details Description Bedrooms 3 Bathrooms 3 Size 1390 sq.ft. Original Sales Price $300,000 Discount Percentage 76% Discount Amount $227,000 Aston Eaves Price $73,000 Single unit purchase analysis Regular tenant Unit purchase price $73,000 Rental income per month $1000 Rental income per annum $12,000 Gross Rental Yield 16.4% Less annual outgoing costs / expenses: Property Tax $1, Insurance $500 HOA (Homeowner Association fees) $2,100 Property Management fees (10%) $1200 SUB-TOTAL $ Net Annual Income $ Net Rental Yield 9.7% Appreciation and Growth (over 5 years) Investor purchase price $73,000 Estimated value in 5 years $140,000 Equity from growth in 5 years $67,000 Net rent collected in 5 years $35, Total proft in 5 years $102, Return on Investment (ROI) 140.3% PAGE 11

12 INVESTMENT TIMELINE Due to the nature of the fast moving acquisition process, the client must understand that he or she needs to stay on track and chase their respective solicitor, thus ensuring a smooth sales process. Whilst Aston Eaves will do their utmost to chase all parties, after the initial stage the client must regularly contact their solicitor (attorney) and realtor that is handling the sale. PHASE I: RESERVATION / Today Once you have decided that you d like to commit to an available property, please forward a reservation fee along with a reservation form (available online or sales@astoneaves.com) and the property will be booked in your name. The reservation fee is entirely refundable minus a 15% admin fee until contracts are sent out. Once the contracts are sent out, the reservation fee is non-refundable. NOTES 995 fee to reserve per unit via BACS or credit/debit card. This is our consultancy fee. There are no other agency fees. PHASE II: PURCHASE AGREEMENT / 1-3 days Once reservation has been approved, the client will be put in touch with all the required parties including the realtor and attorney that are required to complete the sale. During this time, the client will be required to complete a full purchase agreement. The client will be requested to sign the purchase agreement and /fax it to the nominated attorney (title company) in the USA who will process it. The attorney will issue buyers with title insurance which gives them peace of mind that the home is clear of all encumbrances and liens at closing. Full legal name, signature and dated contract to be sent back to the attorney (title company). PHASE III: CONTRACTS SENT TO YOU / 4-7 days A third party Licenced surveyor will conduct a report on the homes condition. The attorney will also give you an exact figure for all of the closing costs i.e. equivalent to search fees and insurance. This takes around 4 to 7 days. At this point the buyer knows the exact figure for all costs involved which is usually $1000-$1800 for a single purchase. $300 - $400 to be wired over to the surveyor for survey. PHASE IV: EXCHANGE AND COMPLETION / days The total purchase amount is then wired directly to the attorneys escrow account. The attorney will disburse all of the funds at closing. Now you have completed, our partner will contact you to help open a US bank account, arrange insurance and discuss non-resident tax. Balance is wired to escrow account and purchase complete. We help to set up bank accounts. PAGE 12

13 BULK PURCHASE DEALS BASICPACK AGE BASICPLUS! 3INCLUSIVE Reservation for 1 Property Reservation for 2 properties Reservation for 3 properties Lasts for 60 days Lasts for 60 days Lasts for 180 days 110% Refund Guarantee 110% Refund Guarantee 110% Refund Guarantee Minimum 8% Net Yielding Minimum 9% Net Yielding Minimum 10% Net Yielding 6 month rental guarantees 6 month rental guarantees 12 month rental Gurantees Transferrable to UK Property Priority Pick on new projects * The 110% guarantee - If we are unable to secure you an investment opportunity according to the offers above, then we will offer a 110% return on the money you have placed with us - guaranteed. For example, if you wanted to go for the 3INCLUSIVE option and we were unable to secure you 3 units that give a rental yield of 10% net which were not sourced within a 180 day period, then we d give you the 2295 back plus an additional on top. PAGE 13

14 WHAT TO DO NEXT... If you have any further queries or questions in relation to this investment proposal, then us at Alternatively, please call us on +44 (0) and ask to speak to one of our consultants in relation to the development you are interested in. THANKS FOR YOUR INTEREST! PAGE 14

Surrounding Amenities

Surrounding Amenities Carriage Pointe The Villas ion Square at Reun REUNION GRANDE ANNIKA ACADEMY Tom Watson p CLUBHOUSE nb itio Ga th e ad Tr rin g CONFERENCE CENTER hering L Gat oo Independence Course