Three Additional Properties in This Development Phase Are Expected to Begin Construction This Year
MIRAMAR BEACH, FL / ACCESSWIRE / July 15, 2021 / Masterbeat Corporation (OTC PINK:MSTO), a company specializing in hard, tangible asset acquisitions with an intense focus on real estate, precious metals, collectible classic automobiles, and other tangible assets, announces it has broken ground, started construction, on its first of multiple Florida Panhandle (four parcels of land acquired to date in this development phase) properties in Santa Rosa Beach, Florida. The Company has so far acquired four land parcels in this development phase (three in Santa Rosa and one in Lavarre, Florida) to build exclusive, custom vacation style homes.
This first of multiple custom 5,000 sq. ft. vacation style home constructions in Santa Rosa, Florida will feature 9 bedrooms, 9 bathrooms, 4 stories with ocean views, a rooftop deck, a short walk to the beach, an elevator, a 16-person hot tub, fire pit, professional putting green and will sleep up to 32 people. The land parcel for this luxury beach vacation home is a 110 feet x 200 feet, which is an exceptionally large lot for the area. All four of SBQ's recent land acquisitions and the accompanying construction expenses have been secured by utilizing on-hand cash positions and traditional financing.
The land parcel was purchased for $400,000 and the expected construction cost of the 5,000 sq. ft custom home is in the range of $1,200,000 to 1,400,000 for a total expenditure of $1.6 to $1.8 million. Comparable properties in the immediate area are selling quickly between $2.5 million and $3.2 million and are generating annual rental revenues of approximately $300,000 per year. Local real estate sale prices in this area have increased more than 10% year over year and are projected to continue to do so for the foreseeable future.
Rented Inc., recently listed the Florida Panhandle as the best location for investors to purchase vacation homes. Florida's northwest Gulf Coast ranked #1 on the new "100 Best Places to Buy Vacation Rentals." The report was compiled by Rented Research and Weiss Analytics ranking destinations by the cost of ownership, short-term revenue potential, acquisition cost, annual appreciation, and projected changes in asset value.
The new 2020 report determined that Florida's Panhandle offers the best returns on vacation home investments over "Every Other Market" in the United States and has an index score of 98.7 out of 100. The Florida Panhandle has emerged as the clear winner as the top vacation-home investment area in the United States.
"Breaking ground on this property is especially momentous and exciting. We patiently, but diligently, executed the pilot phase of our Real Estate business model with superb results, both operationally and financially. Utilizing traditional financing, we are now scaling up our proven real estate model and expect to achieve similar or better results on this property and its three sister properties in Santa Rosa and Lavarre, Florida (four total in this phase)," stated Josh Tannariello CEO of Masterbeat Corp. "According to rental management platform, Rented Inc., the Florida Panhandle is the best location for investors to purchase vacation homes and Florida is the number one state to purchase a vacation rental property. We are now, officially, scaling up our proven model, and we are confident that it will generate significant revenue, profits and asset appreciation to deliver substantial dividend-like returns to our shareholders."
About MasterBeat Corp.
MasterBeat Corporation (OTC PINK:MSTO), incorporated under the laws of Delaware, is a publicly traded company specializing in hard, tangible asset acquisitions with an intense focus on real estate, precious metals, and other tangible assets. The company believes its progressive approach to an old school model, especially in this market based on fragile earnings multiples and uncertainty, to acquire hard, tangible assets will not only offer long term capital appreciation but also deliver revenues, profits, and self-sustainability.
www.masterbeatcorp.com
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Safe Harbor Statement
This 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 upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
Contact:
Josh Tannariello
561-570-7050
[email protected]
SOURCE: Masterbeat Corporation