Firm Plans to Revitalize $641M Value of Properties Over 5 Years
FORT MYERS, Fla., Aug. 15, 2022 /PRNewswire/ — New Western, the biggest nationwide non-public supply of fix-and-flip residential funding properties, introduced in the present day the opening of its fifth Florida workplace, positioned in Fort Myers. Over the following 5 years, New Western intends to assist revitalize $641 million price of properties within the metropolis and improve housing stock by buying value-added properties after which promoting them to buyers who will enhance them.
“We’re very happy to proceed our enlargement into Florida with the opening of our Fort Myers workplace,” mentioned Kurt Carlton, co-founder and president of New Western. “The residential actual property market in Fort Myers has been rising expeditiously as of late, and our staff is trying ahead to bringing inexpensive housing again to the market. The success we have skilled in our different Florida areas is a testomony to the worth we convey to native actual property buyers by our market and experience.”
With almost 580,000 aged properties within the Fort Myers metropolitan space alone, together with 61% constructed earlier than 2002, the world affords important potential stock for buyers seeking to rehabilitate and resell properties. On the identical time, Fort Myers is in want of extra inexpensive housing choices: The typical Fort Myers residence gross sales worth has elevated by 30% year-over-year to $410,000. New Western, nevertheless, acquires properties for lower than $250,000 on common, and buyers who rehab properties bought by New Western promote them for as much as 31% lower than the price of a newly constructed residence.
“I am trying ahead to turning into part of the Fort Myers neighborhood and serving to present much-needed housing stock to native buyers,” mentioned Milton Bernal, basic supervisor of New Western’s Fort Myers workplace. “There’s ample alternative on this marketplace for us to make a distinction. Our market and staff is in an excellent place to help in facilitating extra inexpensive housing options in Fort Myers.”
Fort Myers is the forty ninth workplace opening for the actual property market providing unique alternatives to buyers seeking to rehab homes. Since 2008, New Western has purchased and offered greater than $12 billion price of residential actual property by leveraging knowledge and native market perception to inventory its market with unique funding properties. On common, New Western buys a property each 13 minutes, and sells a property inside 90 minutes of buy.
About New Western
New Western makes actual property investing extra accessible for extra folks. Working in most main cities, our market connects greater than 100,000 native buyers seeking to rehab homes with sellers. As the biggest non-public supply of funding properties within the nation, we purchase a house each 13 minutes. New Western delivers new alternative for all—a contemporary begin for sellers, unique stock for buyers, and inexpensive housing for patrons. For extra data, go to www.newwestern.com.
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SOURCE New Western