Mangus Properties is currenty offering property investors the opportunity to purchase "Turn Key" investment homes at significant discounts in today's market.
Investment Details
Today’s real estate market offers an investor the opportunity to purchase rental property that provides cash flow that is partially sheltered from taxes, eventual appreciation, and a cash on cash return over 12%. Mangus Properties LLC investor program is a 12 step process that allows the investor to enjoy the benefits of real estate ownership without the associated work. One of our investors lives in California and other than signing the closing papers and receiving monthly checks does not have to be involved in the property.
Here is how it works:
1. Mangus Properties locates a foreclosed or distressed property and negotiates the purchase.
2. Once the home is purchased by Mangus Properties the company advises the potential investor what we think it will appraise for after renovation and what we expect to obtain in rental income.
3. If interested the investor then enters into a purchase agreement for a price that is 10% below the expected appraisal amount. The purchase price may be adjusted up or down depending on the actual appraisal after renovation of the property.
4. The investor may elect to alter the renovation plan to upgrade or downgrade depending on their opinion for future resale of the property.
5. Mangus Properties then renovates the property at its expense. Prior to completion of the renovation the home is advertised for rent and an acceptable tenant is identified.
6. Upon completion of the renovation the property is appraised by a 3rd party appraiser.
7. Based upon the appraisal the purchase agreement may be altered to reflect the present market value.
8. During the renovation the investor will initiate financing with a closing date to coincide with completion of the renovation. Mangus Properties will assist in this process if requested.
9. At closing the property title is passed to the investor.
10. Mangus Properties coordinates the move in of the tenant, monthly collection of rents, and all other management duties outlined on our services page. Our monthly management fee is $60.00.
11. The investor can now sit back and let Mangus Properties manage the property on their behalf and receive the monthly rent check.
Example
The most recent home we sold appraised for $120,000.00. We sold it to our client for $108,000.00. It rents for $1,250.00 per month. The client invested 20% down or $21,600.00, so their mortgage payment on $86,400.00 is approximately $795.00 a month. This payment includes principal, interest, taxes and insurance. Mangus Properties charges $60.00 a month to manage the property so our client cash flows approximatley $395.00 per month or $4,140.00 annually. On a $21,600 investment the investor receives $4,140.00 per year which is 19% cash on cash return. The first year or two will most likely not have any maintenance or repairs since the property was renovated. We do recommend the investor be prepared to have to spend some of the income for eventual maintenance and repairs which will reduce his overall return to something less than 19%. Eventually when the home is sold the investor will receive his equity including any appreciation plus the 10% discount provided by Mangus Properties when the initial investment was made. They also own a home with an approximate equity value of $39,000.00. In today's economy you will be hard pressed to find a better investment. As a licensed real estate agent, Mangus Properties LLC can also assist in selling your investment property.
Investment Details
Today’s real estate market offers an investor the opportunity to purchase rental property that provides cash flow that is partially sheltered from taxes, eventual appreciation, and a cash on cash return over 12%. Mangus Properties LLC investor program is a 12 step process that allows the investor to enjoy the benefits of real estate ownership without the associated work. One of our investors lives in California and other than signing the closing papers and receiving monthly checks does not have to be involved in the property.
Here is how it works:
1. Mangus Properties locates a foreclosed or distressed property and negotiates the purchase.
2. Once the home is purchased by Mangus Properties the company advises the potential investor what we think it will appraise for after renovation and what we expect to obtain in rental income.
3. If interested the investor then enters into a purchase agreement for a price that is 10% below the expected appraisal amount. The purchase price may be adjusted up or down depending on the actual appraisal after renovation of the property.
4. The investor may elect to alter the renovation plan to upgrade or downgrade depending on their opinion for future resale of the property.
5. Mangus Properties then renovates the property at its expense. Prior to completion of the renovation the home is advertised for rent and an acceptable tenant is identified.
6. Upon completion of the renovation the property is appraised by a 3rd party appraiser.
7. Based upon the appraisal the purchase agreement may be altered to reflect the present market value.
8. During the renovation the investor will initiate financing with a closing date to coincide with completion of the renovation. Mangus Properties will assist in this process if requested.
9. At closing the property title is passed to the investor.
10. Mangus Properties coordinates the move in of the tenant, monthly collection of rents, and all other management duties outlined on our services page. Our monthly management fee is $60.00.
11. The investor can now sit back and let Mangus Properties manage the property on their behalf and receive the monthly rent check.
Example
The most recent home we sold appraised for $120,000.00. We sold it to our client for $108,000.00. It rents for $1,250.00 per month. The client invested 20% down or $21,600.00, so their mortgage payment on $86,400.00 is approximately $795.00 a month. This payment includes principal, interest, taxes and insurance. Mangus Properties charges $60.00 a month to manage the property so our client cash flows approximatley $395.00 per month or $4,140.00 annually. On a $21,600 investment the investor receives $4,140.00 per year which is 19% cash on cash return. The first year or two will most likely not have any maintenance or repairs since the property was renovated. We do recommend the investor be prepared to have to spend some of the income for eventual maintenance and repairs which will reduce his overall return to something less than 19%. Eventually when the home is sold the investor will receive his equity including any appreciation plus the 10% discount provided by Mangus Properties when the initial investment was made. They also own a home with an approximate equity value of $39,000.00. In today's economy you will be hard pressed to find a better investment. As a licensed real estate agent, Mangus Properties LLC can also assist in selling your investment property.