Shades Holdings (SHDH) which acquired Florida’s Suncoast Real Estate Owned Holdings in September announced that in the short period of ownership the company produced a 19% return on investment from the sale of 18 homes.
This return on investment was generated from an average 40-day turnaround time, from acquisition to liquidation.
Resulting from the recent acquisition, Shades Holdings is now run by former President and CEO of Suncoast, Andy Garrett.
Garrett implements the business model of acquiring existing properties then refurbishing and upgrading these impaired single-family homes. Using this business model, Shades generated $1.2 million for the 18 Southwest Florida homes they sold.
This revenue rides on the increase of the Florida real estate market. With an increase of 2% in September, single-family home sales continue to improve, while pending sales spiked 40.1% in the same time frame.
“As we continue to produce positive results, we will seek to enter new markets with similarly attractive opportunities to drive further sales and grow shareholder value,” said Garrett.