Firm Plans to Revitalize $641M Price of Houses 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 at present the opening of its fifth Florida workplace, situated in Fort Myers. Over the subsequent 5 years, New Western intends to assist revitalize $641 million value of houses within the metropolis and enhance housing stock by buying value-added properties after which promoting them to buyers who will enhance them.
“We’re very happy to proceed our growth into Florida with the opening of our Fort Myers workplace,” stated 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 crew is trying ahead to bringing reasonably priced housing again to the market. The success we have skilled in our different Florida places is a testomony to the worth we convey to native actual property buyers via 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 provides important potential stock for buyers trying to rehabilitate and resell houses. On the identical time, Fort Myers is in want of extra reasonably priced housing choices: The typical Fort Myers house gross sales worth has elevated by 30% year-over-year to $410,000. New Western, nonetheless, acquires properties for lower than $250,000 on common, and buyers who rehab properties bought via New Western promote them for as much as 31% lower than the price of a newly constructed house.
“I am trying ahead to changing into part of the Fort Myers group and serving to present much-needed housing stock to native buyers,” stated Milton Bernal, normal supervisor of New Western’s Fort Myers workplace. “There’s ample alternative on this marketplace for us to make a distinction. Our market and crew is in a great place to help in facilitating extra reasonably priced housing options in Fort Myers.”
Fort Myers is the forty ninth workplace opening for the true property market providing unique alternatives to buyers trying to rehab homes. Since 2008, New Western has purchased and bought greater than $12 billion value of residential actual property by leveraging information 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 individuals. Working in most main cities, our market connects greater than 100,000 native buyers trying 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 recent begin for sellers, unique stock for buyers, and reasonably priced housing for consumers. For extra data, go to www.newwestern.com.
SOURCE New Western