Biloxi Development
Lender owned properties - selling out at foreclosure prices! 84 units
for sale just opposite the white sandy beaches in Biloxi.
75% FINANCING IS AVAILABLE!! | A great opportunity!
A Beachfront property for sale under market value and with a tenant in place. All apartments are sold without furniture, but with appliances.
Here is the chance to own a beachfront property in the popular location of Biloxi - well known for the famous Mardi Gras and just a few minutes away from Hard Rock Casino, Beau Rivage. Next door and a top MGM hotel... Close to Gulfport Airport with daily flight connections from Atlanta, Dallas and Houston and three times a week from Tampa with connections from Canada and the UK.
| Attractions in the area and on site include : 26 miles of white sandy beach, water sports, Shopping, Swimming, Deep Sea Fishing, Historic Area Nearby, Jet ski Rentals Nearby, Casino Nearby, Game Room On site, Gym On site, Fishing Nearby, Amusement Park Nearby, Games/Toys for Kids, Golf Nearby. Boating, Skateland, movie theaters, horse riding, motor sports, waterpark, dragway and speedway, bowling, museums, Gator Ranch & Airboat Swamp Tours, Paintball Park and NASA Space Center - StenniSphere.
You'll find eight first-class casino resorts in Biloxi, with most offering championship golf courses, fine dining and buffets, top-name entertainment and an array of other visitor amenities.
| | | Amenities/Features
Oak Kitchen Cabinets
Granite Counter tops
Oak Master Bath Vanities
Cultured Marble Bath
Vanity Counter tops (bathroom)
Ceramic Tile and Lush Carpeting
Designer Lighting Fixtures Throughout
Private Patios and Courtyards
Ample Parking Spaces
Secure Gated Entry
Two Pools
Kitchen
Energy Efficient GE
Refrigerator
Dishwasher
Microwave
Smooth Top Electric Range | TYPICAL RENTAL INCOME
Studios Monthly $950
1 Bed Monthly $1250
2 Beds Monthly $1575
Payment Schedule $9,230 - $30,000 (depending on which property is purchased) DEPOSIT THE REST AT COMPLETION - completion is performed by lawyer and all deposits are held in escrow and company client accounts. All documentation is sent via courier and email and all deposits and completion money is to be sent by wire transfer to company bank accounts. | | |
Time of Completion 60 DAYS. Annual Maintenance Fee STUDIO: $1,500 - 1 BED $2,700 - 2 BED $4,260 maintenance fee includes Building insurance,Outside maintenance of buildings and grounds and facilities, fire safety inspections, landscaping - 24hr maintenance, refuse collection - water and sewage and pool maintenance. Property taxes - Studios - $1109.80 - 1 beds $1943.70 - 2 beds $3122.92
| THE INVESTMENTS
Purchase a studio ground floor, for $61,630+ 4% making the closing costs $64,095. Total profit after one year would be $8,580 ALMOST 13.5% return. Rental income of $11,400. Maintenance cost Figure is $1500 and Property Tax is $1109.80
To Purchase a studio top floor would cost $68,300 + 4% closing costs making the purchase a total of $71,032. Total profits after one year is expected to be $8,580, almost 12.2% return. Rental income equal $11,400. Maintenance figure is $1500 and the property tax $1109.80
| | | | The rental income is $15,000.00, Maintenance figure amounts to $2700 and property tax is $1943.70. Purchase a 1 bed apartment, top floor, for $97,500 + 4% closing cost making total purchase cost, $101,400. Expected profits after one year would amount to $10,356, almost 10.5% return. Rental income is $15,000, maintenance fee is $2700.00. and the property tax is $1943.70.
To Purchase a 2 bed townhouse, can cost $ 159,800 +4% closing costs, bringing purchase cost to $166,192. Total profit after one year would be 11,517, almost 7% return. Rental income $18,900, maintenance figure is $4260 and property tax $3122.92.
| One can purchase a 2 bed townhouse pool view/closest to beach for $163,600 +4% closing costs, making total purchase cost $170,144. Total profit after one year is $11,517, almost 6.8% return, rental income is $18,900. Maintenance fee is $426o and property tax is $3122.92.
| Access to the Biloxi area has been expanded recently, and the Biloxi-Ocean Springs Bridge is already complete. At the Gulfport-Biloxi International Airport, traffic is up 20 percent since 2005, and a new $51 million expansion promises to increase terminal space by 8 percent. Two new airlines will be given access with the enhanced square footage. All these steps promise to unleash Biloxi’s economic potential, leading to a huge appreciation in real estate values here.
Casino companies have purchased huge chunks of land in the city, totaling 175 acres, and the industry is expected to employ more than 30,000 casino staff in the coming months. All this competition is proving healthy for the casinos that are already operating in Biloxi – record revenues have been reported over the last 11 months.
| Another factor that is bound to drive Biloxi’s real estate boom further is the current lack of housing for the city’s casino workers.
There is an immediate need for high quality housing for these people, and current demand far exceeds supply. More than 60 percent of casino workers live in rented properties.
There is also a hotel room shortage (need 17,000 have 10,000) and an expansion of the nearby convention center. This will yield a higher nightly rate / corporate rate as a secondary market. The one thing that’s for certain in the real estate is what when supply runs low and demand shoots up, rental prices can go nowhere, but up.
That’s what is happening in Biloxi today!!! |
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