Business Type: Real Estate Portfolio
Location: Midwest Region, US
Business Description: The company generates revenues from two different business lines: real estate sales (approx. 61%) and rentals (approx. 39%). It has a portfolio of 100+ properties including single family homes and duplexes with rental rates ranging from $400 – $1,100 per month. The also enter into land contracts with tenants/customers who are interested in purchasing the homes they are living in. The buildings include properties ranging from 500 sf. to 2,200 sf.
Real Estate: Office is rented ….. other real estate included.
Facility Description: Office is 1,700 sq. ft and rented from owner of the company. The facility is shared with a sister company that they also have for sale.
Asking Price: TBD
Gross Income: $1,513,000 Projected 2020: $1,850,000
EBITDA: $677,000 Projected 2020: $761,000
Assets inc. Real Estate: Approx. $4,786,000
Employees: 5 full, 2 part-time
Competition: Disclosed in CIM
Growth & Expansion: Buyer could expand territory into large population and other counties. Also, buy more properties in foreclosure and auctions along with property that has been on market for long periods of time.
Owner Involvement: i.e. Actively involved, hands off, hours per week on site etc.
Support & Training: Two of the people involved in partial ownership are willing to stay involved/working in the company. They are managing the operation.
Reason for Selling: Retirement of majority owner who is not involved in day to day operations of the business.
Seller Financing Available: TBD
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