A real estate investor I have been working with purchased this bank owned property – REO condo property at a fantastic price of $386,199 in February. My client quickly fixed up the condo unit in Somerset Ocean Front Condo to make it more appealing to potential buyers. We then listed the condo for sale at an asking price of $489,000. The condo was under contract in 32 days and closed near the end of May for $476,800. Even with real estate fees and taxes my client made over a 9% return on investment.
There are plenty of great deals out there right now, but they are selling quick. Inventory in Brevard County is at an all time low. Call me if you have any questions regarding the great opportunities in Brevard or leave a comment.
On to another deal!!!