Immediate Need: Preliminary Financing:
Step 1. Raise temporary funds to purchase 2 properties March 1, 2021
Parcel # 2 : 11215 Davis Road : Price $300,000
3 bedroom, 2 bath home on 2.11 Acres. Immediately adjacent to UUCT and Frazer properties. Concrete block. 2000 sf. Central Heat and Air. Handicapped accessible. + 2 car carport. + covered patio on back + Gazebo, Storage Shed, Nicely landscaped. Zoned RSC-4 (4 houses per acre). Septic Tank. City of Temple Terrace Water and Garbage. Built 1965. One non-functioning well on property.
Parcel 4: 11201 Davis Rd: Price $270,000
3 bedroom, 2 1/2 bath home on 1.45 acres. Adjacent to 11215 Davis Rd. Concrete block. 1551 sf. Central Heat and Air. Handicapped accessible. + patio on back + 1441 sf Metal Utility Building, Nicely landscaped. Zoned RSC-4 (4 houses per acre). Septic Tank. City of Temple Terrace Water and Garbage. Built 1973. One well on property.
$650,000 needed (purchase cost + legal fees, development fees, holding costs)
offer 4% interest on investment for 1 year. = $26,000 / yr = 2, 166 / month
We’ve changed the interest to 6% for the year: = $39000/yr = $3250/mo
Rent out larger house: estimated rent $ 2000 might possibly rent for $2500
Rent out smaller house: Marla rent $1500
Total monthly income = $3500 / mo = $250/mo positive cash flow / month after interest payments. Will be used for taxes (estimated $4000 each) , repairs, as needed.
This gives one year time to develop plans to develop a plan and proceed ahead or sell the property and recoup investment.
For Example: We need 26 people to invest 25,000 with a return of $1000
OR 6 people to invest $108.300 with a return of $4,332yr or $361 month
OR lots of people in between these two examples.
Legal and Ownership Structure:
For this phase, Title would be held in a Florida Land Trust. All investments would be secured by promissory notes and a mortgage on the property.