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Home Buying in Gillespie Park : Real Estate Advice

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  • Home Buying2
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Mon Feb 11, 2013
David B. Leventhal answered:
there are some good deals in this area, and with downtown only moving in that direction in the future , it is a good time
call me if you want more info on the area and we can discuss your options and what is it you are looking to achieve
is it rental return on your money,? or are you looking to build? or multifamily?
alot of other questions I need to know in order for me to properly assist you
David
The Leventhal Team
www.theleventhalteam.com
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Sat Jan 5, 2013
Lynn Brock answered:
Jwilliamsonlaw, To locate properties in the Gillespie Park area which is a specific neighborhood that are for sale, will be challenging. A tax search reveals four properties in Gillespie Park that are multifamily. Three are owned by the same investor and the fourth is owned by another investor. Both long time Sarasota residents, they have been strong advocates in favor of the development of this area.

Over time, they have been steadily acquiring more properties in the area.

Your desired purchase price of $30,000 per unit is extremely low for this area and current market conditions.

Potential for appreciation is part of an investor's due diligence. That is part of the investment game and risk taking to purchase in an area that will show appreciation. The market was particularly soft up until the beginning of 2011. That is not the case at this time.

There are other areas along the Gulf coast of Florida, but, each would have to be carefully evaluated against a litmus test based upon your purchasing criteria.

Best regards,
Lynn Brock
Brock Realty Inc.
941.313.1234
www.brockrealty-inc.com

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