A Perspective on South Florida Real Estate Opportunities Solutions RE, LLC
Jan 15, 2016
A Perspective on South Florida Real Estate
Opportunities
Solutions RE, LLC
A Perspective on South Florida Real Estate OpportunitiesExecutive Summary
Why Invest in South Florida Real Estate?
Sustained population growth over the past 20+ years
• 270,000 new residents since 2000 in Miami-Dade & Broward Counties
• Strong international migration to South Florida, especially from Latin America
• Growth expected to continue at same pace over the next ten years plus
• Greater Miami has over 150 ethnicities and more than 80 languages are spoken
Strong tourism industry that draws visitors from around the world
• More than 35,000,000 visitors in 2008 by air and sea
• 19.8% increase in tourism since 2002
• Miami is the busiest seaport in the world for cruise passengers
• Subtropical, average daily temperature is76 degrees with year round sunshine
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A Perspective on South Florida Real Estate OpportunitiesExecutive Summary
Strong economic growth over past decade
Miami-Dade led the state in job growth over the past ten years
Large employment in real estate, finance, legal, tourism and retail in South Florida
No state income tax and low sales tax rates
Miami-Dade is the 10th largest recipient of direct foreign investment
South Florida is an international market
South Florida accounts for the largest share of foreign home buyers in Florida
Latin Americans make up the largest share of foreign buyers
60% of foreign buyers pay cash for real estate
Real Estate Prices in South Florida
Prices peaked in December 2006
By December 2008, prices have fallen by 41.25%
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A Perspective on South Florida Real Estate OpportunitiesExecutive Summary
Summary of Inventory in the Market
In the thirty year period ended 2002, 11,517 condos were built in Miami
Between 2003 and 2008, 43,408 have been built or are under construction
Of the 43,408, those that have not closed and are available to buy total 17,597
Brickell leads all neighborhoods with 8,786 built and there remains 4,689 of these units
available
Based on absorption rates, this is likely a 4-5 year supply
Neighborhoods
Brickell
• Strong professional workforce in legal, management and finance
• Average household income is $72,152
• Established neighborhood with corresponding infrastructure in place
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A Perspective on South Florida Real Estate OpportunitiesExecutive Summary
Miami Beach Major employers in real estate, tourism, retail and finance Average household income is $102,426 Popular tourism destination for travelers from around the world
Sunny Isles Primarily a residential community, with some employment in tourism, retail and real
estate Average household income of $91,377 Many new developments are popular with seasonal residents from Canada and
Russia
Aventura Major employers are retail, banking, real estate and management Average household income is $109,241 Home to the largest shopping mall in Miami-Dade County
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A Perspective on South Florida Real Estate OpportunitiesExecutive Summary
Purchase Strategies
Note purchase directly from lender
• Foreclose on property and assume control
• Potentially the most cost-effective way to obtain property
• Foreclosure may be contested and thereby costly and time consuming
Short sale of the note
• Lender reduces note and property is purchase directly through developer
• Buyer obtains property at closing
• Developers and lenders may not cooperate
Direct purchase from developer
• Buyer controls property at closing
• Buyer can choose which units to buy
• Discounts tend to be smaller as developer still controls pricing
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A Perspective on South Florida Real Estate OpportunitiesExecutive Summary
Direct from bank (REO)
• Buyer assumes control of property at closing
• All property issues have generally been addressed
• Most properties are being sold prior to foreclosure so options may be limited
Exit Strategies
Buy & Hold
• Rent units for period of time
• Usually produces consistent cash flow over time
• Acquisition prices are not attractive to developers or banks
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A Perspective on South Florida Real Estate OpportunitiesExecutive Summary
Buy, Flip & Finance
• Purchase units at wholesale price and then immediate resale them and hold paper for
buyers
• Opportunity to exploit different in wholesale and retail pricing
• Market remains challenging for many properties and competition is intense
Hybrid Model
• Buy, flip some units with (or w/o) financing and rent the remaining units with a lower
cost basis
• A portion of investment cash returned quickly
• Sales remain challenging within the overall market
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Presentation Summary
An Introduction to Solutions RE & Majestic Properties
A Brief History of Majestic
The Team
An Introduction to The South Florida Market Population & Growth Statistics
Tourism
Business & Economics
International Buyers
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Presentation Summary
The Real Estate Market in South Florida
History of Pricing
Inventory Summary
Absorption Rates
End User Profiles
Purchase Strategies Note Purchase Directly from Lender
Short Sale of the Property
Direct Developer Sale
Direct from Bank (REO)
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Presentation Summary
Exit Strategies
Buy & Hold (Rental Properties)
Buy, Flip & Finance
Hybrid Model
Solutions RE Services
Consultation – Identify Appropriate Targets, Purchase & Exit Strategies
Financial Modeling, Comparable Market Reports & End-user Profiles
Design/Build of Designer Ready Units
Leasing Programs (Short-term and Long-term)
Lease-to-Own Programs
Sales Programs
Property Management
Recap & Questions
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Presentation Summary
Solutions RE Services
Consultation – Identify Appropriate Targets, Purchase & Exit Strategies
Financial Modeling, Comparable Market Reports & End-user Profiles
Design/Build of Designer Ready Units
Leasing Programs (Short-term and Long-term)
Lease-to-Own Programs
Sales Programs
Property Management
Recap & Questions
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An Introduction to Solutions RE, LLC & Majestic PropertiesA Brief History of Majestic Properties
Established 1995 Full service real estate organization Sales in excess of $5B Leader in the preconstruction sales market More than 30 preconstruction projects sold with over 4,000 total units 200+ Agents with more than a dozen languages spoken Four offices in Florida – Miami Beach, Miami, Tampa & Hollywood Global network of buyers & sellers Majestic named America’s fastest growing, independently owned, full
service real estate company by Inc. 500 Magazine in 2006
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An Introduction to Solutions RE, LLC & Majestic PropertiesA Brief History of Majestic Properties
Pre-construction sales expertise Maximizing FAR & land planning Conceptualization Space planning Design and finish selection Branding Building quality sales teams Sales center design & launch events Marketing plans & implementation Contract administration and closing plans Urban planning
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An Introduction to Solutions RE, LLC & Majestic PropertiesA Brief History of Majestic Properties
Partial List of Projects Sold In South Florida
Ten Museum Park (200 units) Midtown I, II & III (1,014) Canyon Ranch (433) Artecity (202) Paramount Bay (346) Marquis (306) Nirvana (347) The Tides Hollywood (954) Regent Park (253) Caribbean Miami Beach (103) Soleil (200) Cynergi (100) South of Fifth (29) Ios (45) Cite (436)
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An Introduction to Solutions RE, LLC & Majestic PropertiesSolutions RE, LLC Team
Jeff Morr, Founder and CEO
24 years of real estate experience, launched Majestic Properties in 1995
Experience in conceptualization, design, space planning, urban planning, branding,
marketing, sales, developer and customer relationship management
Marketing/Advertising – Florida State and FIU
Richard Wood, Chief Financial Officer Over 20 years financial experience Big Four Experience (PwC) BS in Finance - Indiana University MBA from the New York Institute of Technology.
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An Introduction to Solutions RE, LLC & Majestic PropertiesSolutions RE, LLC Team
Ken Nagid, Director of Operations Experience in the high tech industry Experience in real estate sales, leasing and property management fields BSC in Electronic Engineering and Business Administration – Tel Aviv
University
Ann Nortmann Experience in Banking Administration Real Estate Agent-Associate with specialization in residential condominium
sales, commercial and bulk condominium sales - top producer BS Business Management – Ryerson University
Mika Mattingly Experience in television and film production Real Estate Associate with specialization in commercial and bulk
condominium sales – top producer
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An Introduction to the South Florida Market Population & Growth Statistics
Miami-Dade County, Florida 2000 Population – 2,253,362 2007 Population – 2,387,170 Increase of 5.9% (133,808 increase)
Broward County, Florida (Fort Lauderdale) 2000 Population – 1,623,018 2007 Population - 1,759,591 Increase of 6.5% (136,573 increase)
Overall Population Growth in Miami-Dade MSA of more than 270,000 persons since 2000
Miami- Dade County’s Population is Approximately 50% Foreign-born
Median Income is $41,237 (2006)
Source: US Census Bureau, Miami-Dade County & Beacon Council (www.census.gov; www.miamidade.gov; www.beaconcouncil.com)
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An Introduction to the South Florida Market Population & Growth Statistics
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Source: US Bureau of the Census Reports for 1960, 1970, 1980, 1990, 2000Post 2000 figures, Miami-Dade Planning & Zoning Department, Research Section, 2001
An Introduction to the South Florida MarketTourism (add pie chart from where tourist come from)
Miami-Dade Tourism 2008 Visitors by Air – 17,041,650 (+12.87% 2008 vs. 2002) Visitors via Port – 3,807,865 (+10.5% 2008 vs. 2002)
Broward Tourism 2008 Visitors by Air – 11,298,519 (+32.62% 2008 vs. 2002) Visitors via Port – 2,179,206 (+16.3% 2008 vs. 2002)
19.8% Increase in Overnight Visitors 2008 vs. 2002 Miami is a gateway city for Latin American Visitors Miami-Dade Seaport is the busiest seaport in the world for cruise
passengers Miami-Dade County Lead the State in Hotel Occupancy (76.9%) and Room
Rates ($190.47)
Source: Synovate Research; Greater Miami Convention & Visitors Bureau (www.synovate.com; www.miamiandbeaches.com)
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An Introduction to the South Florida MarketBusiness & Economics
Economic Facts Miami-Dade Metro area has lead the state in new job creation over the past five years. Overall Florida job growth was 21.2% from 2000-2006
Miami-Dade (6.8%) has one of the lowest unemployment rates in Florida (8.6%) as of January, 2009
10th Largest Recipient of direct foreign investment.
Several companies have their Latin American HQ offices in Miami, including UPS, FedEx, Discover Channel, HP, American Express, Avaya, IBM, HBO & Exxon
Florida has no state income tax and the sales tax rate is relatively benign (5.5%)
Other Notables:
More than 500 multinational corporations have offices in Miami-Dade County
61 foreign consulate offices are located in Miami-Dade County
25 foreign trade offices are located in Miami-Dade County
40 bi-national chambers of commerce operate in Miami-Dade County
Source: Beacon Council; Miami-Dade Government, State of Florida (www.beaconcouncil.com; www.miami-dade.gov)
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An Introduction to the South Florida MarketBusiness & Economics – Major Employers
TOP PRIVATE EMPLOYERS EMPLOYEES
Publix Super Markets 11,000
Baptist Health South Florida 10,826
University of Miami 9,874
American Airlines 9,000
Precision Response Corporation 6,000
AT&T 5,500
Winn-Dixie Stores 4,833
Florida Power & Light Company 3,900
Carnival Cruise Lines 3,500
Macy's Florida 3,368
Mount Sinai Medical Center 3,264
Miami Children's Hospital 2,600
Mercy Hospital 2,412
Wachovia, N.A. 2,229
Cordis (a Johnson & Johnson Company) 2,100
Royal Caribbean/Celebrity Cruises 2,000
Assurant Solutions 1,800
TOP PUBLIC EMPLOYERS
• Miami-Dade County Public Schools 50,000
• Miami-Dade County 32,000
• Federal Government 20,400
• Florida State Government 17,000
• Jackson Health System 10,500
• Miami-Dade College 6,500
• City of Miami 4,034
• Florida International University 3,132
• V A Medical Center 2,300
• City of Miami Beach 1,979
• City of Hialeah 1,800
• U.S. Coast Guard 1,220
• U.S. Southern Command 1,200
• City of Coral Gables 895
• City of North Miami Beach 738
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An Introduction to the South Florida MarketPast, Present & Future Outlook
Though population and job growth have slowed, they are forecasted to increase again beginning in 2010, further spurring future demand for housing
Source: The 2009 Fund Real Estate Forecast – Miami-Dade County (www.thefund.com)
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An Introduction to the South Florida MarketAn International Market
Florida is the top destination for foreign
home buyers in the US
Miami – Fort Lauderdale accounts for
the largest share of foreign home
buyers in Florida (21%)
60% of foreign buyers pay cash for
their property purchases
81% of foreign buyers purchase for
use as a vacation home
12% buy for rental income purposes
46% of buyers in Miami-Fort
Lauderdale or from Latin America
Source: National Association of Realtors “2008 International
Home Buyers in Florida” (www.realtor.org)
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The Real Estate Market in South FloridaA History of Pricing in Miami MSA
Miami-Dade median housing prices peaked in
December 2006
12/31/2006 = $398,641
By December 31, 2008, prices had fallen 41.25%
12/31/2008 = $234,200
Source: S&P/Case-Schiller Index (www2.standardand poors.com)
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Year-over-year percentage (%) change in pricing for homes in Miami-Dade MSA area
The Real Estate Market in South FloridaSummary of Inventory & Pricing
Between 1963 and 2002, there were 11,517 total condominiums built in Miami.
Between 2002 to present 43,408 have been built or are currently under construction.
Of the 43,408 units, 25,552 have closed and 17,597 remain available
Population and tourism growth along with strong vacation home interest fueled the boom, along with lax lending standards and weak
local building regulations.
Inventory by Neighborhood (note, this denotes projects completed and closed since January 2003)
Neighborhood Total Closed Available
Brickell 8,786 4,097 4,689
Downtown 6,021 2,839 3,182
River /West Downtown 4,526 2,560 1,767
Biscayne/Midtown 5,097 2,837 2,260
Little Havana/Miami 541 121 420
Miami Beach 5,037 3,030 2,007
Sunny Isles/Aventura 5,189 3,811 1,378
Bal Harbor/North Bay Village 1,093 856 235
Coconut Grove/Coral Gables 2,757 1,779 890
Totals 43,408 25,522 17,597
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The Real Estate Market in South FloridaSummary of Inventory Available by Neighborhood – Miami-Dade County (East)
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The Real Estate Market in South FloridaSummary of Inventory Available by Neighborhood vs. Total Built Since 2003
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The Real Estate Market in South FloridaCondo Absorption Rates – Miami-Dade County
- New condo closings peaked at 20,100 in 2005.
-Sales fell 54% in 2008- While sales are projected to continue to be
slower in the coming four years, new condo projects starts are expected to be very few ,
thereby allowing absorption of remaining units and thereby further reduce supply.
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Source: Attorney’s Title Insurance Fund 2009 Real Estate Forecast) www.thefund.com (
The Real Estate Market in South FloridaInventory Summary – Availability - Aventura, FL
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The Real Estate Market in South FloridaInventory Summary – Availability Brickell Neighborhood
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The Real Estate Market in South FloridaInventory Summary – Availability Coconut Grove/Coral Gables Neighborhood
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The Real Estate Market in South FloridaInventory Summary – Availability Miami Beach
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The Real Estate Market in South FloridaInventory Summary – Availability Downtown Miami
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The Real Estate Market in South FloridaInventory Summary – Availability Midtown Miami
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The Real Estate Market in South FloridaInventory Summary – Availability Miami River/West Downtown
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The Real Estate Market in South FloridaInventory Summary – Availability Sunny Isles/North Bay Village/Bal Harbour
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The Real Estate Market in South FloridaInventory Summary – Availability Little Havana/Greater Miami
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The Real Estate Market in South FloridaProfile: Brickell , Downtown & Biscayne Neighborhood
Population is 161,563 (3 mile radius)
Median Age is 42
Population is 51% male / 49% female
Population is 45% Hispanic, 26% Mixed Race and 21% White
Brickell is a major financial center for all of Latin America
Major Employers are in Business Management, Finance, Computer,
Architectural, Legal, Healthcare or other service fields
Total Housing Units 65,058 (3 mile radius)
Average Household Income was $72,152 (3 mile radius)
Brickell has been an established live/work area for decades with the
corresponding infrastructure for shopping, retail, restaurants and other
quality of life enhancements
Downtown and lower Biscayne have seen immense development in the
past five years.
Carnival Center for the Performing Arts, American Airlines Arena,
Bayfront Park and many other amenities dot the landscape in this
densely developed area
Sources: Beacon Council, Miami-Dade Government, City of Miami & Loopnet.com (
www.beaconcouncil.com, www.miami-dade.gov, www.miamigov.com)
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Biscayne Corridor
Brickell
Downtown
The Real Estate Market in South FloridaProfile - Miami Beach
Population is 63,904 (3 mile radius)
Median Age is 43
Population is 54% male / 46% female
Population is 54% Hispanic, 40%, White and the remaining
14% are primarily of mixed-race
Three main areas: South Beach, Mid-Beach and North
Beach
Major Employers are in Tourism, Retail, Real Estate, Legal
and Banking
Total Housing Units: 47,548 (3 mile radius)
Average Household Income was $102,426 (2008)
World –renown vacation destination with year-round
amenities
Three Golf Courses – two public and one private
More than 10 miles of public beaches along the Atlantic
Ocean
Source: US Census Bureau, www.city-data.com, City of Miami Beach
(www.miamibeach.com)
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Miami Beach
The Real Estate Market in South FloridaProfile - Sunny Isles
Population is 33,830
Median Age is 46
Population is 46% male / 54% female
Population is 59% White and 36% Hispanic
Significant Russian Population resides in Sunny Isles (known as Little
Moscow)
Major Employers are Retail & Tourism
Total Housing Units: 25,412
Average Household Income was $91,377 (2008)
Number of housing units increased more than 200% since 2000 and
average prices have almost triples ($104,000 in 2000 vs. $292,247 in
2007)
Many of the new developments will provide vacation homes to
seasonal residents
Sunny Isles has more than 3 miles of public beaches along the ocean
Short drive to Bal Harbour Shops and Aventura Mall
Source: City of Sunny Isles, Miami-Dade County, www.city-data.com,
www.citytowninfo.com; www.sibfl.com; www.miamidade.gov)
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Sunny Isles
The Real Estate Market in South FloridaProfile - Aventura
Population is 25,267
Median Age is 49
Population is 46% male / 54% female
Population is 75% White, 21% Hispanic
Major Employers are Retail, Real Estate, Office
Management and Banking
Total Housing Units: 20,020
Average Household Income was $109,241 (2008)
Largest Retail Mall in Miami-Dade County is located in
Aventura
Source: www.city-data.com; , Miami Dade County (
www.miamidade.gov; www.citytowninfo.com)
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Aventura
The Real Estate Market in South FloridaPurchase Strategies - General Observations
Real Estate is usually all about location, so generally speaking better locations may present long-term
opportunities as prices tend to fall less and recover more quickly.
Better locations tend to have a built-in demand for property so there tends to be a ready supply of renters and
buyers over time.
Some neighborhoods are unique and cater to unique niches in the population, thereby insuring a steady supply of
renters and buyers and providing support for pricing
Generally, the more units in a property available, the greater discount can be negotiated as sellers (banks or
developers) are under greater pressure to liquidate al the inventory rather than just blocks of inventory. Also,
once the developer sells some units in a block at a discount, they generally set the market price for a property for
buyers in the not-to-distant future.
For buyers, the best case scenario is generally to purchase as much inventory as possible in any particular
building. In most instances, seeking buildings with more than 50% (and as close to 100% as possible) is most
effective and efficient as pricing reductions are greatest if the buyers purchases all the remaining inventory. Also,
buyers then control the market for the property and can better manage inventory and pricing
Smaller units tend to have higher rents per sq ft and are often better values in terms of leasing.
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The Real Estate Market in South FloridaPurchase Strategies
Purchase Note Directly from Lender Advantages
• Buy note and assume role of lender
• Notes normally already in default and foreclosure action may have been initiated by lender
• Ability to foreclosure liens off property at foreclosure (with exception of tax some government liens
(such as water and utility liens)
• Ability to then negotiate with borrower from a position of strength
• In most instances, this will be the most cost-effective strategy
Disadvantages
• Foreclosure may be needed thereby involving uncertainty and legal fees
• Borrower may file bankruptcy and potentially greatly slow the process of obtaining the asset
• Banks have been reluctant sellers and can take extraordinary time to make decisions
• Buyers may assume all warranty issues of developer if purchasing/assuming more than seven (7)
units
• If subcontractors remain unpaid, the may not honor standard warranties on their work
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The Real Estate Market in South FloridaPurchase Strategies
Short Sale of the Note Advantages
• Purchase property through owner (borrower) via the bank agreeing to price less than total outstanding
balance on the note
• Buyer assumes the property at closing
• Likely less costly (legal fees, opportunity costs, etc) than foreclosure
• Ability to execute sales and leasing programs immediately
Disadvantages
• Short sale does not eliminate liens from property
• Must work directly with what can be very reluctant to non-cooperative sellers
• Banks can delay the process for very long periods of time
• Buyers may assume all warranty issues of developer if purchasing/assuming more than seven (7)
units
• Price may be somewhat higher than an outright purchase of the note
• If subcontractors remain unpaid, the may not honor standard warranties on their work
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The Real Estate Market in South FloridaPurchase Strategies
Direct Purchase from Developer Advantages
• Buyer assumes property (units) at closing
• Time to purchase is generally not as long as banks are generally not involved and do not delay the
process
• Can select units to purchase rather than buying all the inventory in a specific property
• Generally, all subcontractors have been paid in full so they may honor warranties on their work
Disadvantages
• Discounts tend to be smaller than with note purchases or short sales
• Usually, a limited number of units are available as all others have generally closed
• Buyer competes with all other unit owners in terms of sales and rentals
• Buyers may assume all warranty issues of developer if purchasing/assuming more than seven (7)
units
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The Real Estate Market in South FloridaPurchase Strategies
Direct from Bank (REO)
Advantages
• Buyer assumes control of property at closing
• Liens have generally been dismissed or otherwise addressed
• Property has generally been maintained and, at times, leased
Disadvantages
• Banks can be challenging to work with on pricing and closing terms
• Competition can be strong as the banks generally entertain many suitors for properties
• Buyers may assume all warranty issues of developer if purchasing/assuming more than seven (7)
units
• Currently, many properties are sold via Note Purchases or Note Short Sales and are therefore not
being foreclosed upon by Lenders. As such, many properties are not reaching the REO stage before
being purchased by investor(s).
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The Real Estate Market in South FloridaExit Strategies
Buy & Hold Strategy• Rental of Units for Period of Time
• Cash Flow and Capitalization Rate will be determining factors
• Strategy can be applied to intact buildings (no closed units) or to condo buildings that have closed units
• Intact properties can be reconverted from condos to apartments to decrease operating costs, including taxes,
insurance and management
• Building can be reconverted and sold as individual condos or sold in its entirety as a multi-family property
Advantages
• Consistent cash flow performance over time
• Maximize expense savings when intact buildings converted from condo to apartment building
• Ability to sell individual units or entire building when market improves
Disadvantages
• Purchase prices tend to be low for lenders as many investors tend to under value the discount between
wholesale and retail pricing
• Overall returns may be affected if the rental market remains soft for a longer period of time than anticipated
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The Real Estate Market in South FloridaExit Strategies
Buy, Flip & Finance Purchase of units at wholesale pricing and immediately placing them back on the market at retail price
Upon sale of a unit, the investor provides financing for a certain percentage of the sale price (50% to 80% LTV)
Investor holds debt for a period of time (2 to 5 years expected) in anticipation of normal credit market operations in
the next 12 to 24 months
Some units that are more challenging to sell may be held back and leased for long-term sale
Advantages
Opportunity to exploit price differential between wholesale and retail pricing structures
Investor is able to gain back portion of investment quickly and use funds for alternative investments
Any units that do not sell and are rented will have a lower cost basis and higher overall rental ROI because of the
profits from unit sales will reduce the overall investment basis for these remaining units.
Disadvantages
Sales made within 12 months of purchase will be taxed at higher rate than longer term capital gains
Units may be challenging to sell in the present market, even with financing provided
The overall return may be somewhat negatively affected by the amount and length of time paper is held by the
investor
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The Real Estate Market in South FloridaExit Strategies
Hybrid Model Rental of certain units and sale of other units
Often, this is the most effective exit strategy for many Miami condo projects with current availability
Many buildings have units that will not necessarily be appropriate to rent such as penthouses and particularly
large floor plans that can often be sold for considerable profit above the wholesale price of the unit. Those same
properties likely have many units in desirable locations that could be leased profitably
Advantages
If larger, more profitable units are sold quickly, profits can be taken our and exposure reduced to the overall
property
Remaining cost basis for units would thereby be reduced and the rental model would work much more effectively
Disadvantages
Some properties in marginal neighborhoods would not fit this model
Financing by investor may be needed to liquidate some units which may restrain overall return over time
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The Real Estate Market in South FloridaSolutions RE Services
Initial Consultation / Target ID,
Purchase & Exit Strategy Formation Identify Types of Properties that fit investor
profile
Review current opportunities and look toward
future targets
Evaluate Risk / Reward Scenarios
Evaluate Investor Risk Tolerance
Evaluate Purchase Strategies
Evaluated Exit Strategies
Financial Modeling, Comparable
Reports, End User Profiles Evaluate Properties based upon performance
in financial models
Review Comparable Reports
Evaluated End Users and how they may
effect Purchase and Exit Strategies
Review Inventory for Neighborhood and time
frame for divestment
Determine appropriate price level for
purchase
Preparation of Letter of Intent / Purchase
Contract
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The Real Estate Market in South FloridaSolutions RE Services
Design Build Features Review Exit Strategy to determine appropriate
material for flooring, closets, window treatments
and other items to ensure / enhance long-term
value
Retain Licensed Contractor to complete work
including necessary government permits
Manage work to insure quality and efficiency in
delivery of unit(s)
Monitor that all payments are made to vendors in
order to insure no liens are placed on units
Leasing Plan and initiate marketing plan to promote
and drive traffic to property
Promote property to cobrokers via sales
meetings, open houses and other events to
showcase the property
Provide agents (onsite if need be) to show
units
Prepare and review Lease contracts
Collect required deposits and rents
Perform background and credit checks
Obtain Condominium Association approval for
rents (if necessary)
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The Real Estate Market in South FloridaSolutions RE Services
Lease-to-Own Programs Expand pool of available buyers by tapping
into renters in property as well as those
renting in other area propeties
Encourage renters to consider purchasing the
units within a defined period of time
Provide down payment support via carve-out
from rental payments
Work to get property FHA approved
Lock in prices for period of time for renters to
encourage conversion to sales
Property Management Partnership with Advenir, with more than
5,000 units under management
Full Service Management for all units held
Assist with condominium association
management (if requested)
Provide onsite personnel to manage day-to-
day operations of the property
Annual Budgets with month reports on
Occupancy, operating income and balance
sheet
Full Service Accounting, including property
tax filing, for property
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The Real Estate Market in South FloridaSolutions RE Services
Sales Complete a sales plan for the property at time of purchase (Exit Strategy)
Direct design of sales showcase and sales model/s
Provide a dedicated team to work specifically on sales and leasing for the property
Provide or direct marketing plan to promote leasing and sales both in short and long-term
scenarios for national and international clientele
Sales plan will be tailored to take advantage of optimal sales times and will be adjusted to
the changing economic environment
Sales may be commercial or residential depending on the particular property characteristics
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Thank You
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