PRDL Ready to Deliver on Real Estate Acquisition
NEW YORK, NY / ACCESSWIRE / November 3, 2014 / Profitable Developments, Inc. (OTC Pink: PRDL) (PINKSHEETS: PRDL), announced today, that they have successfully negotiated a financing commitment from private investors to allow multiple property purchases. The credit line was negotiated at a rate of 8% which will allow the Company and its’ shareholders to keep the majority of the profits from each transaction without diluting shareholder equity.
Additionally, the company has put out contracts for the buyer of the second property and expects to sell the remaining three properties from our recent contract, over the next two to three weeks, at a significant gain.
"Having secured this credit line is a major milestone for the Company and will allow us to finance the down payments on up to 20 properties at a time, without diluting the share base," commented Carl Grant, President of Profitable Developments. He further said, "Each sale we made has been profitable and as our acquisitions grow larger, the scale of our operations and profits will greatly intensify. We intend to have a shareholder conference call in November for management to discuss with the shareholders our forecasts for revenues and profits from the distressed asset acquisitions and sales."
About Profitable Developments, Inc.
Profitable Developments, Inc. is a Property Development Company listed on the OTC markets. The company specializes in identifying and purchasing distressed real estate at significant discounts to market value and reselling them quickly for sizeable returns. The company sells the real estate priced below market value to help fulfill its’ mission of putting American families back into homes at affordable prices. Specializing in key locations globally in both underpriced land as well as in Property, the Company has an aggressive strategy to capitalize on the rising prices of Real Estate.
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of Profitable Developments, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Profitable Developments, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Profitable Developments’ future results. The forward-looking statements included in this press release are made only as of the date hereof. Profitable Developments cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Profitable Developments undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Profitable Developments.
CONTACT:
Profitable Developments, Inc.
Web: www.profitabledevelopments.com
SOURCE: Profitable Developments, Inc.