Vero Coastal Homes 
       Exclusively Representing Home Buyers

Beachside Joint Venture with Contracted 15% ROI on Vero's South Beach

This new listing in Oceanridge it has the best investment potential of anything I’ve seen in the last 2 years.

There have been a few good foreclosure deals on south beach, but not with the combination  of location, price and a block / tile structure 4 homes from the beach. This bank owned home will sell quickly.

Click link to see listing: 1939 Ocean Ridge Circle   

 
This home is a rare Island foreclosure - See: County Records. It sold in 2006 for $767,700 and is now: $329,000!  The home has been vacant for 18 months so the lawn is dead, pool is green and appliances

are missing. The structure appears sound, with no evidence of water damage or vandalism.

 
   Repairs Needed:                                                                         

• Re-landscape & repair sprinkler system 
• Paint Interior & Exterior - minor remodeling 
• Misc Carpentry, plumbing & Electrical 
• Pool Drain & Clean, Pump repair 
• New Appliances - Mid Level Whirlpool 
• Flooring in Bedrooms - Originally Carpet  
• Address Differed Maintenance Throughout                           

Click Here for More Pictures                   Aerial Photo
 

Neighboring homes in the subdivision (shown in slides above) average $550,000 in value. A very conservative of the value of the project home after repairs / updates would be $450,000. Below

are 2 proposed scenarios of the project with different levels of upgrade / improvements:

Lease Purchase:

I am currently looking for a joint venture project for lease-option  in exchange  for renovation & property management . Final value will be higher due to upgrades and I would be responsible for all repairs.

Renovate & Manage for Investor
In this case, renovation would be to original condition, with minor upgrades. Rental income should
come close to covering costs, but initial investment will be higher. Final Value would be lower since
renovation will consist of repair to original condition with minor upgrading. 

This is just a quick synopsis of 2 possible scenarios and some rough numbers  to put it in perspective.
I currently manage several projects that are the renovate & manage for investor arrangement - I can
provide figures, references & details. I have extensive building experience as an architect / builder for
many years in Colorado. Contact me for additional information or to exchange ideas.