Fresh Renovation Leads to Nearly 70% Returns for this Investment Property in West Palm Beach, FL

August 15, 2016

Located in West Palm Beach, Florida, this week’s feature highlights the full-scale rehab of a 3-bed, 2-bath American-Ranch style home. The modern and fresh renovations were completed by Ausmerica LLC, a real estate investment company that supplements its primary long-term rental strategy with a fix-and-flip strategy. Ausmerica LLC’s owners also own a property management business, Kanga Property Management, which focuses on acquisition, rehab, leasing, management, and disposition of investment assets in the South Florida market.

Built in 1959, this particular property had recently been abandoned, and was in dire need of some modern, strategic touches. The team at Ausmerica LLC focused on creating curb appeal by meticulously landscaping the property, painting the outside of the property, and resurfacing the pool and deck. On the interior, the team completed a makeover of the kitchen which now features stainless steel appliances, marble countertop, and brand new porcelain-white cabinets. Furthermore, the flooring was replaced with an overlay pattern pine wood flooring in the family rooms and brand new carpeting in the bedrooms, and tiles were replaced in the kitchen and bathrooms. The property was purchased for $85,000. Ausmerica LLC provided about $30,000 in renovations. This paid off as they recently sold the property for $194,000. Overall, this transformation shows the true potential of rehabbing and illustrates a successful fix-and-flip project.

CoreVest works with borrowers like Ausmerica LLC, to finance real estate investment portfolios of various quantities and property types. Are you a real estate investor looking to expand your real estate investment portfolio?

CoreVest is a leading provider of financing solutions to residential real estate investors. We provide attractive long-term debt products for stabilized rental portfolios as well as credit lines for new acquisitions. For more information about how CoreVest can help grow your rental and rehab business, please call 844.223.2231 or submit our contact form.