"All the things I could do"

"If I had a little money" Money money money ABBA

Picture is of the complex behind Florida Seafood that we talked about a couple of posts ago. This is the complex that was built as condos and didn't sell, they then marketed them as shared ownership and still didn't sell. They were then put on the market as unfinished units at very distressed prices. A block of units were bought and are being finished and are already back on the market. I knew this was going to happen since there is a lot of room to walk away with a lot of profit.

They are not skimping on finishing the units with Italian marble throughout, Kraftmaid cabinets and stainless steel. The complex features pool, exercise room and boat dock.

To give you an idea of what has happened, unit 306 was purchased for $170,000. The unit has 3 bedrooms 2 baths and 2084 square feet. It is now on the market for $295,000. After getting a discount with multiple units being finished at the same time, I would think $100,000 profit is on the table. Not too shabby! The penthouse is on the market for $629,000, the unit has 4 bedrooms 4 baths and 4299 square feet.

Good move by someone, you may say I am a dreamer!

Jim Bagwell