BUFORD, GA/ACCESSWIRE/July 12, 2022/ Masterbeat Corporation (OTC PINK:MSTO), a firm specializing in tangible and tangible asset acquisitions with a particular focus on real estate, collectible classic automobiles and other tangible assets, is pleased to announce that it has completed the sale of 183 Rolling Dunes, Santa Beach property in Rosa Beach, Florida for $4.25 million ($4,250,000). The land acquisition and construction costs for this property were $1.85 million ($1,850,000), resulting in a gross profit of $2.4 million ($2,400,000).
In February 2021, SBQ announced the acquisition and purchase of a parcel of land (183 Rolling Dunes) in an upscale neighborhood located in the sunny beach town of Santa Rosa Beach, Florida. The Rolling Dunes lot was purchased for $400,000, with an estimated construction cost of $1,450,000, for an “all-in” cost of $1,850,000. At the time, comparable properties in the immediate area were selling for between $2.5 million and $3.2 million and generating annual rental income of about $300,000 per year.
In July 2021, SBQ announced that SBQ had cleared the way and would begin construction of the 183 Rolling Dunes asset. In August 2021, they announced that the land had been cleared and construction had begun. In October 2021, the 183 Rolling Dunes property was listed on the Multiple Listing Service (MLS) with an asking price of $4.25 million.
In December 2021, SBQ received an all-cash offer and agreed to sell the property for the asking price of $4.25 million. Funds are locked in until completion of construction which is still expected to be completed in April 2022. The 183 Rolling Dunes property will gross $2.4 million ($2,400,000) and, after commission of the real estate agent 4% ($170,000). ), a net profit of $2.23 million ($2,230,000).
SBQ’s 183 Rolling Dunes property in Santa Rosa is the first of several 5,000 square foot custom vacation-style homes that SBQ will build in the Florida Panhandle. SBQ recently announced the acquisition of three additional properties in the area which will be built throughout 2022. SBQ will implement an aggressive land acquisition strategy throughout the year.
SBQ vacation style homes are 5,000 square foot custom vacation style homes that feature 8-9 bedrooms, 8-9 bathrooms, 3-4 stories with ocean views, rooftop terraces, short walks to the beach, lifts, 16-person hot tubs, fire pits, professional putting greens and can accommodate up to 32 people per house.
Rented Inc., recently ranked the Florida Panhandle as the best place for investors to purchase vacation rental homes. Florida’s Northwest Gulf Coast ranked #1 in the new “100 Best Places to Buy Vacation Rentals.” The report was compiled by Rented Research and Weiss Analytics by ranking destinations based on cost of ownership, short-term earning potential, cost of acquisition, annual appreciation and projected changes in asset values. . The new 2020 report has determined that Florida’s Panhandle offers the best returns on vacation home investments compared to “Every Other Market” in the United States and has an index of 98.7 out of 100. The Florida Panhandle has become the big winner of the best holidays. – home investment area in the United States. See more at www.inman.com/2020/07/20/florida-is-the-no-1-state-to-purchase-a-vacation-rental/
About MasterBeat Corp.
MasterBeat Corporation (OTC:MSTO), incorporated under the laws of Delaware, is a publicly traded company specializing in acquisitions of tangible and tangible assets with a particular focus on real estate, precious metals and other tangible assets . The company believes that its incremental approach to an old-school model, particularly in this market based on fragile earnings multiples and uncertainty, to acquiring material, tangible assets will not only deliver long-term capital appreciation , but also income, profit and self-sufficiency.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based on current expectations or beliefs, as well as on a number of assumptions regarding future events. Although we believe that the expectations and assumptions on which they are based are reasonable, we cannot guarantee that these expectations and assumptions will prove to be correct. Some of these uncertainties include, but are not limited to, the Company’s ability to perform on existing contracts or obtain future contracts. The reader is cautioned not to place undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including, without limitation, the successful implementation of our business strategy and competition, each of which may cause actual results to differ materially. from those described in the declarations. We undertake no obligation and do not intend to update, revise or publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events. Although we believe that our expectations are based on reasonable assumptions, we cannot guarantee that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
THE SOURCE: MasterBeat Corporation
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