Business Type: Real Estate Portfolio
Location: Midwest Region, US
Business Description: The company generates revenues from two different business lines: Real Estate Sales (approximately 61%) and Rentals (approximately 39%). It has a portfolio of 100+ properties including single family homes and duplexes with rates ranging from $400 to $1,100 per month.
They 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 square feet to 2,200 square feet.
Real Estate: Office is rented but other real estate is included.
Facility Description: Office is 1,700 square feet and rented from owner of the company. The facility is shared with a sister company that they have for sale also.
Asking Price: TBD
Assets Including Real Estate: Approximately, $4,786,000
Employees: 5 Full-Time and 2 Part-Time
Competition: Disclosed in Confidential Information Memorandum (CIM)
Growth & Expansion:
Buyer could expand territory into larger population and other counties.
Also, buyers could purchase more properties in foreclosure and auctions along with that has been on the market for long periods of time.
Owner Involvement: Ask Broker for update
Support & Training: Two of the people involved in partial ownership are willing to stay involved and/or working with the company. They are currently managing the corporation.
Reason for Selling: Retirement of majority owner who is not involved in day to day operations.
Seller Financing Available: TBD