While so many industries are suffering because of COVID-19, Florida’s real estate market saw an increase in closed and new pending sales, higher median house prices and growing new listings in August compared with August of last year. As Florida’s housing market continues to gain momentum, a lot of people want to move to the Sunshine State. The boom in sales is also drawing new investors to the area.
With the florida real estate market on a clear uptrend, investors have turned their focus to real estate related stocks.
Last year, SBQ Holdings, LLC (SBQ), a MasterBeat Corporation (OTC: MSTO) subsidiary, a company specializing in hard, tangible asset acquisitions with an intense focus on real estate, precious metals and other tangible assets, acquired the Verano Palace real estate asset in Miramar Beach, Florida. The Verano Palace property is a 7-bedroom, 7.5-bath income generating, self-sustaining asset with significant appreciation potential, which fulfills all the parameters of the first phase of the SBQ business model. Additionally, in line with their balanced acquisition strategy, SBQ recently acquired 907 ounces of precious metals in the form of silver and gold bullion.
SBQ acquired the profitable Verano Palace property, which has generated over $130,000 in revenue over the trailing 12 months, for $1,150,000. Comparable, even near identical, properties have sold for over $1,300,000 this year. As per the SBQ vision, this initial asset is income generating, profitable and self-sustaining, and SBQ is confident the property will also deliver significant asset appreciation. The Verano Palace asset was purchased and financed via a traditional mortgage which is personally backed and guaranteed by Masterbeat’s CEO.
The 7 bedroom, 7.5 bath, 3 story Verano Palace property, located less than one block from the white sand beaches and emerald waters of Destin, Florida, features nearly 4,000 sq. ft. of exceptional living space, beach view balconies, a spacious private back yard highlighted by a 32 x 16 foot heated pool and parking for 8 cars. The 5 master king suites, all with private en suite baths, and 2 bedrooms with bunkbeds can accommodate almost 30 people. Additionally, the property has a gourmet kitchen, three living rooms (all with wet bars, mini fridges & icemakers), 9 total smart TVs and a fully outfitted game room. More details about SBQ’s Verano Palace property are available at: https://www.foreverdestinbeachrentals.com/details.aspx?pid=313584.
“We are extremely excited about our first real estate purchase, Verano Palace, and very confident about the future of SBQ Holdings, LLC., Masterbeat’s asset operations subsidiary. We have secured traditional bank financing and have an open credit facility for additional acquisitions. In line with our balanced approach, we have started to acquire precious metals (907 ounces of silver and gold bullion), and we currently have a few more real estate properties under contract and expect to close them quickly and efficiently,” stated MasterBeat’s CEO, Josh Tannariello. “We have an extremely structured but aggressive plan to purchase income generating properties that are self-sustainable that will deliver profits and asset appreciation to the company and its shareholders. I believe in our business model and have personally backed the SBQ credit facility. Our vision is to build a hard asset acquisition company, hedging against market down turns and corrections, that will deliver value, and eventually income via dividends, to our shareholders. As we continue to implement our vision and model, and we expect our growth will be swift but efficient, we will continue to regularly update shareholders.”
Josh Tannariello, CEO of MasterBeat Corporation,was in a New Audio Interview with SmallCapVoice.com, the full interview can be heard at: https://www.smallcapvoice.com/interview-masterbeat-corporation-msto/