1ST & 10 Properties, Corp. Announces Agreement with Financial Advisor, Signs Letters of Intent To Acquire Commercial Properties in Florida, Missouri and Resort Property in California..
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SARASOTA/BRADENTON, Florida, Nov. 9/PRNewswire-FirstCall/1st & 10 Properties, Corp.. announced today that Worldwide Financial Solutions, Inc has been retained as it's Consultant/Advisor and will assist the newly formed company in it's efforts to raise capital and file for their NASD ticker symbol.
Worldwide Financial Solutions, Inc's (WFS) President, Mr. Doug Fleck and his management staff have over 50 years of combined experience in the public market place including a successful track record in the Over The Counter Market. This provides WFS with the knowledge and the necessary experience to properly handle the many obstacles and unique needs of newer companies. With offices in South Florida and the Midwest, WFS has broad access to the diverse group of investors and businesses that look to assist and grow with companies such as 1st & 10.
"We are very pleased to have Mr. Fleck and his WFS team join our consulting team. His extensive financial and investment banking experience will be valuable in our effort to form the new entity's capital structure and to list on a public market" commented 1st & 10's Chief Executive Officer Joseph Kandel. "This is a major milestone in the development of the company's public structure. I am glad to be a part of Mr. Kandel's growing and aggressive management team" stated Mr. Fleck. Concurrently, 1st & 10 has signed three Letters of Intent to purchase a commercial 8-office building in Sarasota, Florida for $1.2 million, 8-unit apartment building in Chesterfield, Missouri for $780,000 and an ocean-view vacation property in Huntington Beach, California for $1.2 million.
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The National Real Estate market has slowed, as it has in Southwest Florida, but Sarasota is bucking the national trend. The demand for warm weather, palm trees, beaches, the casual tropical lifestyle and cultural activities will always be popular. (Please refer to the Resources page for the latest articles and statistics regarding the Sarasota market.)
Prices have dropped on the Florida Gulf coast, especially in the lower price ranges of under $300,000 creating great
Buying opportunities in the best buyers market in recent years for the smart investor. The Sarasota area lead the country in residential real estate sales during the recent boom achieving between 36-42 percent while the majority of the country averaged 16 percent. It was only natural Sarasota would lead the decline as well. It is for that reason local experts and market trackers agree, Sarasota will lead the way in recovery which has already been demonstrated as shown in the articles posted on the resources page. This market is now slowly rebounding and should continue to do at our normal rate.
Myself and my investor clients have been taking a different approach and are still making great returns on our investments. Pre-construction is still very desirable as a way to invest at the earliest pricing, but as investors from the last 2 years are dropping their prices, many times below builder pricing, investors are jumping in and buying units in large inventory groups at the below market pricing for a 3-4 year hold while covering 80-90% or more of their outgoing costs, depending on their downpayments. With higher inventory's, builders are bargaining like never before offering 30-40% price reductions and upgrade packages to move their homes. And thanks to short sales, drastically reduced resales are more plentiful offering tremendous buying opportunities. Short sales are our largest target for purchasing as lenders look to reduce their portfolio of residential real estate.
I specialize in finding the best bargains in the best neighborhoods for myself and my clients utilizing not only the MLS but my contacts with local builder's and lenders for foreclosures and short sales.
It is the objective of 1st & 10 to purchase as many bargain priced multi-family units in Sarasota within the first 12 months after public trade. By the end of the second year, to purchase or develop self-storage facilities while formulating plans to begin development of a 300 unit apartment complex in a high growth area. For those interested in seeing a company business plan and private placement memorandum, please contact me at the email address on the contact page.
*At this point please visit the
resources page on this website for updated articles and statistics.