STHC Big News - SouthCorp Capital Announces Corpor
Post# of 72749
Posted On: 08/07/2014 9:07:53 AM
STHC Big News - SouthCorp Capital Announces Corporate Plan Business Wire "Press Releases - English"
SANTA MONICA, Calif. --(BUSINESS WIRE)-- SouthCorp Capital, Inc. (OTCQB: STHC) announced its plan of operations and expansion plan. The Companys corporate plan is to initially acquire houses to renovate and flip. The Company wants to use the cash generated from the sale of these houses to acquire properties such as apartment complexes, senior living facilitates and/or mobile home parks. The goal is that these properties will provide a steady and predicable income that can be distributed to our shareholders. Our goal is to be able to increase our dividends to $150,000 - $200,000 per month without any major change to our current share structure. Then we want to begin to increase that from the income generated from the apartment complexes, senior living facilitates and/or mobile home parks.
The Company plans on flipping one house a month to build up our cash position. Then we want to increase it to 2-3 houses a month within the next 90 days. We expect the average profit per house to be between $35,000 and $70,000 .
The Company recently sold its property located at 602 Wagner Street in Fort Wayne, Indiana for $35,000 . The Companys costs related to the property were approximately $10,000 . This equates to a 250% ROI. The Company does not expect its ROI to continue to be that high, but we look at properties where we can obtain an ROI of 40-60%. The Company decided to begin in Indiana for a few of reasons: (1) we believe we can achieve the targeted ROI, (2) our officers have previously bought and sold properties in Indiana , and (3) the capital outlay is lower than other areas.
Flip Model : It has been reported that the average flip generates a profit of approximately $100,000 and typically have an average purchase price of around $210,000 . But those numbers never reflect renovation costs and are based on the purchase price of house and the sales price. As a result, the actual profit is usually much less. The Company expects its total expenses per flip to be between $35,000 and $70,000 with expected profits of $30,000 to $45,000 . So with the $210,000 to purchase one house, the Company can purchase and renovate between 4-6 houses and have expected profits of $150,000 - $200,000 . This, in managements opinion, provides a better model and is expected to provide higher dividends to our shareholders.
The Company expects to provide updates on its properties on Wednesdays via press releases. The Company will also provide updates in 8-Ks in accordance with the requirements of Form 8-K.
About SouthCorp Capital . The Company focus is on the acquisition and renovation of single-family and mutli-family properties in the U.S. with the intent of reselling the property after renovations have occurred. Our real estate investments are expected to focus properties undervalued and/orin need of some repairs.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Contacts: SouthCorp Capital, Inc. Joseph Wade 661-418-7842 info@southcorpcapital.com www.southcorpcapital.com
SouthCorp Capital, Inc. Joseph Wade , 661-418-7842 info@southcorpcapital.com www.southcorpcapital.com
Source: SouthCorp Capital, Inc.
SANTA MONICA, Calif. --(BUSINESS WIRE)-- SouthCorp Capital, Inc. (OTCQB: STHC) announced its plan of operations and expansion plan. The Companys corporate plan is to initially acquire houses to renovate and flip. The Company wants to use the cash generated from the sale of these houses to acquire properties such as apartment complexes, senior living facilitates and/or mobile home parks. The goal is that these properties will provide a steady and predicable income that can be distributed to our shareholders. Our goal is to be able to increase our dividends to $150,000 - $200,000 per month without any major change to our current share structure. Then we want to begin to increase that from the income generated from the apartment complexes, senior living facilitates and/or mobile home parks.
The Company plans on flipping one house a month to build up our cash position. Then we want to increase it to 2-3 houses a month within the next 90 days. We expect the average profit per house to be between $35,000 and $70,000 .
The Company recently sold its property located at 602 Wagner Street in Fort Wayne, Indiana for $35,000 . The Companys costs related to the property were approximately $10,000 . This equates to a 250% ROI. The Company does not expect its ROI to continue to be that high, but we look at properties where we can obtain an ROI of 40-60%. The Company decided to begin in Indiana for a few of reasons: (1) we believe we can achieve the targeted ROI, (2) our officers have previously bought and sold properties in Indiana , and (3) the capital outlay is lower than other areas.
Flip Model : It has been reported that the average flip generates a profit of approximately $100,000 and typically have an average purchase price of around $210,000 . But those numbers never reflect renovation costs and are based on the purchase price of house and the sales price. As a result, the actual profit is usually much less. The Company expects its total expenses per flip to be between $35,000 and $70,000 with expected profits of $30,000 to $45,000 . So with the $210,000 to purchase one house, the Company can purchase and renovate between 4-6 houses and have expected profits of $150,000 - $200,000 . This, in managements opinion, provides a better model and is expected to provide higher dividends to our shareholders.
The Company expects to provide updates on its properties on Wednesdays via press releases. The Company will also provide updates in 8-Ks in accordance with the requirements of Form 8-K.
About SouthCorp Capital . The Company focus is on the acquisition and renovation of single-family and mutli-family properties in the U.S. with the intent of reselling the property after renovations have occurred. Our real estate investments are expected to focus properties undervalued and/orin need of some repairs.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Contacts: SouthCorp Capital, Inc. Joseph Wade 661-418-7842 info@southcorpcapital.com www.southcorpcapital.com
SouthCorp Capital, Inc. Joseph Wade , 661-418-7842 info@southcorpcapital.com www.southcorpcapital.com
Source: SouthCorp Capital, Inc.
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