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Wilton Manorss Real Estate

A Guide for the Conservative
Real Estate Investor

Wilton Manorss is the trendiest neighborhood in the Fort Lauderdale area. It is one of the best areas in South Florida for investment.

Wilton Manors Real Estate

Wilton Manors has been described as the "poor man's South Beach". It is getting expensive, however, and if you don't buy in now, you will have missed one of the last great real estate opportunities in South Florida

Wilton Manors is to Fort Laudedale, What South Beach is to Miami

Wilton Manors Background

Wilton Manors was a ho-hum blue color neighborhood in the eastern part of Broward County. It consisted of single family homes and apartments. To be candid, it was nothing to write home about. But like many areas of Florida it was about to change.

You have to look at the location of this "Island City" to appreciate its potential. It bounded on the north and south by two forks of the Middle River. It is about 2 short miles to the beach and a few minutes ride or long walk to downtown Fort Lauderdale. Remember, Fort Lauderdale has already undergone redevelopment and is very expensive. You can work downtown and live in affordable housing nearby. This is now a very "nice" neighborhood and becoming progressively more upscale.

Wilton Manors is the kind of place where current residents will say a few years from now "Its a good thing I already own something here because I could never afford it now."

What Has Happened In Wilton Manors

Today, just about every apartment building is either newly converted or being converted. There are also a number of new condos being built.

The new Wilton Station project is well underway. This will be luxury apartments in a park-like setting with shops and restaurants in the middle of Wilton Manors. There are one bedroom loft apartments starting at $460K.

There are canals in Wilton Manors with direct ocean access. I have a small (2250 sq ft) home in Wilton Manorss on an ocean access canal for sale at $925,000. That should give you an idea of what type of area this has become. It should also tell you that an apartment for less than $200K in an area where homes sell for over $1 million is something to look carefully at.

The interesting thing about Wilton Manors is the community - it has one. If you live in South Florida it is entirely possible to live on a block with ten homes and not know one of your neighbors. Wilton Manors has a community spirit. People are friendly, say hello, eat in outdoor cafes and go to the beautiful parks by the riverfront.

Wilton Manors Investments

We have personally bought condos in Wilton Manors. My good friends bought four of them and made about 50% over the last 12 months. The area is still cheap.

For Example:

I have a 2 bedroom, newly converted apartment in the middle of Wilton Manors, close to everything that you want to be close to. It has granite counter tops, stainless steel appliances and wood cabinets. You can pick up a unit like this for about $180,000. If you do not wait too long, I have found some units for $175,000 but they will not last long. It rents for around $1200 a month. A year or two from now you will not be able to touch an apartment like this for less than $250,000. By then Wilton Station and a few other high priced condos will be up and everyone under the sun will know about and want to live in Wilton Manors They might ruin it, but for investors, they will ruin it in a good way

How to Make Money In Wilton Manors

An apartment like the one I just mentioned can give you a positive cash flow with 10% down and an adjustable mortgage. Usually, you have to wait a number of years to make money on condo conversions. You could flip this in 24 months and make a very nice profit.

CASH FLOW POSITIVE INVESTMENT IN WILTON MANORS

Yes, you can make money with a condo (units available that are up to $40,000 below appraisal at closing for starters with a potential of $40,000 to $50,000 after 30 months)

Unit rents for $1100 a month and sells for $180,000. The maintenance is $215 and the taxes about $125 a month. Using an ARM, you can make be cash flow neutral or positive each month.

Here is a repeat of what I have on my home page in case you came directly here:

Wilton Manors - Yes, you can make money with a condo (about $25K at closing for starters and potentially $40,000 to $60,000 over 30 months)

If you want the most conservative investment option we offer this is it. Everything that should be there is present:

*	Sold below appraisal
*	Easy to rent and maintain
*	New, never been lived in with all new appliances, utilities, etc.
*	In a proven location that is becoming more and more “upscale”.
*	Superior appreciation potential
*	Free management for 12 months including help with rental
*	Very low number of rentals available in area (Over 25 rental inquiries in three weeks)
*	One mile from Downtown Fort Lauderdale and Beach
*	Rapidly growing area (the "in" place to live in Fort Lauderdale)

The Safest Real Estate Investment We Offer

I speak to people every day who ask me where can I "safely" invest in real estate. Here is an opportunity being handed to you. This is a "text-book" example of a conservative real estate investment where you immediately have equity beyond your investment. There is tremendous appreciation potential and the units can conservatively sell for $40K to $60K more in 2 to 3 years.

This area is becoming Broward County's South Beach or Coconut Grove. Most of you will be telling friends "What an idiot I was. I could have bought Wilton Manors when it was still cheap." I tell my friends "What idiot I am, I should have bought South Beach when it was still cheap", so don't feel bad, we all screw up from time to time.

This is not one of the latest condo conversions where they are trying to dump 300 apartments at a time. There are only a handful of these apartments on the market and very few for rent.

The units sell for about $189,000 (you can get them cheaper). This is a complete conversion where they gutted the building and put on a new roof, hurricane-proof windows, stainless steel appliances, tile, granite counter tops, etc. By the way, they are 2 bedroom apartments.

Most are sold or rented. You have building with 14 to 50 apartments in the neighborhood, not hundreds. The building behind it is being converted and asks $200,000 pre-constrcution for a smaller version of this apartment. They are almost sold out.

The building across the street is similar and the asking price for the 2 bedroom units is generally $220,000 to $250,000. In front of it, the building is $375,00 and up. Get the picture.

If you are new to real estate and want to not screw up your first time out, this is the right choice. Very conservative, safe, "bread and butter" real estate investment.

By the way, I will help you rent it out and manage it for your for free for the first year. Everything is new and under warranty so it is very little work. We get requests for rentals on these units all the time. The last offer was from a realtor who lived in the area and was willing to pay $1200 a month.

Call me for more information

Martin Unger
Real Estate Investments

- Pre-Construction
- Spec Homes
- Condos
- New Homes
- Land
- Relocation

954 - 255-5056 (office)
954 - 461-0319 (cell)
775-254-2881 (fax)

(an associate of London Realty Corp)

9000 Sheridan Street
Suite 90
Pembroke Pines, FL 33024

The information on this web site is provided as a guide for general informational purposes only and is not intended to be tax or legal advice. It is deemed reliable but not guaranteed. Please consult with your own attorney, tax advisor and/or accountant for specific advice. Martin Unger is a licensed sales associate in the state of Florida and works with London Realty Corp.