Has anyone invested in this fund? I got this email today and the fund looks like it's doing well. I'm thinking about buying a condo/apartment in Florida. I know Florida has moved a lot recently but does anyone think it's still worth investing in the U.S.?
Overnight I received the first independent restricted appraisal report pertaining to the current market value of some of our Ft Myers properties.*Here is a summary of the report's conclusions:
1. Hanson Street
Acquired:*18 March 2013
Months owned: 14
Purchase price: $625,000
Est Market Value: $875,000
Value increase: $250,000
% increase: 40%
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2. Palmetto Grove
Acquired:*15 August 2013
Months owned: 9
Purchase price: $2m
Est Market Value: $2.25m
Value increase: $250,000
% increase: 12.5%
*
3. Rams Plaza (Fowler St)
Acquired:*9 September 2013
Months owned: 8
Purchase price: $667,500
Renovations: $69,500
Est Market Value: $1.15m
Net value increase: $413,000
% increase: 56%
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4. Summary:
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Net Value Increase:$913k*
% increase: 27%
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* Note: the gain is in USD, at 94 cents it equates to AUD$971k.
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I hope you agree this is a most pleasing outcome.
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The next step is to review the report and its findings at a Board level, and to make a recommendation about adopting the report's findings so the revaluations flow through to the unit price.
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More Revaluations To Come
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I expect the revaluation report on the other properties being re-appraised to arrive on 1 June.
If you want to invest or top up before the impact of that report flows through to the unit price then please supply your application form, ID (as required) and money before 31 May (or*before 20 Mayif you would like to earn 6% pro rata interest up until your units are issued).
