Investment Property Directory

Description:

1 Million in Equity Now!!!

Buy 2 TN developments and get an Oceanfront lot and Beachside duplex on Amelia Island, FL! Developments Bird’s Eye View Resort A 32.15 acre PUD with paved and curbed streets, underground utilities, street lighting, and a clubhouse (clubhouse is 90% complete). The development has mountain and wooded views and is 8/10 of a mile from the Smoky Mountain Arts & Crafts Community in Gatlinburg. Covenants are in place. Phase 1 has final plat approval for 17 lots and Phase 2 has preliminary plat approval for 10 lots and possibly 12 lots before final plat approval. A recently completed and furnished luxury log cabin on lot 3 that is on a rental program with Amazing Views of the Smokies Cabin and Chalet Rentals in Gatlinburg, TN.(www.amazingviewsofthesmokies.com). The cabin is called “Mountain Bliss” & can be seen by clicking 3BR cabins on the web site. Seaton Springs A 16.84 acre PUD in the preliminary plat approval stage for 24 lots. It is approximately 2 miles from the entrance to Dollywood. A preliminary centralized sewer system approval for 24 cabins has been obtained from the state, but we have not gone through the permitting process at this time. COST TO COMPLETE Bird’s Eye View Resort VALUE Seaton Springs 1.920,000 Birds EyeView Resort 2,085,800 (based on county tax records for Phase 1) Luxury Cabin (615,000) 499,000 (reduced appraisal by 116,000 due to economy) Beachside Duplex (560,000) 400,000 (reduced appraisal by 160,000 due to economy) Oceanfront lot (800,000) 600,000 (reduced appraisal by 200,000 due to economy) Total package value 5,504,800 Proposal 1 Sales price 3,600,000 Gross equity 1,904,800 Estimated Costs to complete Seaton Springs (500,000) Birds Eye View Phase 2 (200,000) Proposal 1 Realtor commission (if applicable) (125,000) Net Equity 1,079,800 These prices are "today’s prices" Net equity 1.1 million at today’s lower prices Bird’s Eye View Resort Sevier County currently has Birds Eye View Resort appraised 1,245,800 for lots 1-17 only, exclusive of Phase 2. (County appraisals are typically lower than actual appraised value). Phase 2 was preliminarily approved for 10-12 lots so pricing them near the low end at 70,000 (based on tax records for Phase 1) adds an estimated 840,000 in value to the development. The roadwork/infrastructure costs for Phase 2 will be approximately 250,000 to complete. Seaton Springs With 24 lots preliminarily approved, that is 1,920,000 in value once it is completed. Estimated costs of completion of roadwork/infrastructure/centralized sewer system are approximately 500,000. Lots appraised at $80,000 by Smoky Mountain Real Estate Appraisals in 2006. Proposal 1 Seaton Springs, Birds Eye View Resort and the luxury cabin for 3.6 million (includes 125,000 for r/e commission for quick sale), and close by January 31, 2009, and I will include an oceanfront lot on Amelia Island, FL that appraised for 800,000 in 2006 as well as beachside duplex that appraised for 560,000 in 2006. The duplex is on a short term vacation rental program and grossed 25,000 last year in rental income even with a slow economy. When the economy gets better, so will the appraisal and rentals. It is 200 feet from the Atlantic Ocean. Proposal 2 Birds Eye View Resort "and" the luxury cabin only for 2.5 million (includes 86,000 for r/e commission) and close by January 31, 2009, and I will include a beachside duplex on Amelia Island, FL that appraised for 560,000 in 2006. The duplex is on a short term vacation rental program and grossed 25,000 last year in rental income even with a slow economy. When the economy gets better, so will the appraisal and rentals. It is 200 feet from the Atlantic Ocean.