Welcome to Florida
It is our goal to provide quality investment properties that actually produce the positive cash flow that many investments claim to provide but don't actually produce. Our investors are earning true cash on cash returns from 8 to 12 percent.
RESIDENTIAL PROPERTY DIVISION
Property Acquisition: We have developed, refined and proven our acquisition model in the Jacksonville markets. We invested millions of dollars of our personal equity into the residential housing markets to prove our process before offering investment services to others. We have developed a network of relationships with Realtors, other investors and banks and we have tested every method of purchase from the court house steps to the internet bidding sites in order to get the absolute best purchase price. We have purchased many properties to hold for rental income, flip to other investors, to rehab and sell as turnkey investment properties or to sell to residential home owners. Each process is different and requires an in depth knowledge of the neighborhoods, recent market prices and trends and the typical needs of the target buyer. We continue to oversee our own personal portfolios as well as portfolios held in partnerships we developed with individual individual high-networth investors. We are also actively acquiring and managing properties for investment groups representing high net worth investors and institutional investors.
Property Rehabilitation: Rehab is key to the success of the property investment. All necessary work must be identified and estimated properly to bring the project in on budget and hitting the targeted returns. The rehab must be completed timely to get a tennant in the property as quickly as possible and avoid idle or non-performing investment. Finally, superior quality rehab is key to minimizing post move-in maintenance cost, securing a quick rental with a quality tennant and minimizing future turnover. We have partnered with SunCoast Property Renovations and have developed proprietary processes to manage the large volume of restoration work done as a result of our agressive acquisition program.
Property Management: SunCoast Property Management LLC is a company we formed with other property investors and our Building contractor. Our goal was to create something different from the typical transaction based Realty Company property manager because our owners are investors and as such, our focus is on return on investment for our investors. Because of our investor focus and our own acquisition program, the company has continued to grow and gain experience and expertise. This growing presence and brand awareness has expanded our ability to attract good tennants for our properties greatly reducing vacant time on market. The company is under the direction of a licensed broker and staffed with experienced property maangement personnel.
Property Sales: Our exit strategy begins at the time of purchase. Some market areas yield higher investment income while others offer a more active resale market. Some partners want to focus on tageted investments based on their expectation of what markets are most likely to recover quicker in the future.
Turnkey Investment Properties: We offer a large selection of turnkey investment opportunities, everything from one single family residential to packages of 100 or more homes. On a more limited basis we also offer multifamily rentals. Whether you are looking to buy one investment property or a package of 100 our process is the same. Each property you buy will come with the following:
- The property will have been fully renovated to meet the requirements of HUD and the Jacksonville Housing Authority.
- The property will be rented with a quality tenant who has been credit and background checked
- The property is under management with a licensed property manager
Joint Venture Portfolio Development: Due to the requirements of existing investment partners, we are not currently seeking new joint venture investment partners. In the past we have often created a jointly owned company with potential partners to target a specific investment strategy. Those partnerships have proven to be quite successful and generated vary attractive returns. If you are interested in learning more about the Joint Venture Portfolio Development program please send us your contact information. Someone will contact you and ask a short series of questions to determine if you would be eligible for one of our Joint Ventures and advise you when those programs will resume.
COMMERCIAL PROPERTY DIVISION
Southeast Premier Properties LLC was formed through a partnership with Bradley Construction to acquire, develop, lease and/or sell commercial properties to commercial tennants with a focus on top quality, credit worthy national chains. Southeast Premier Properties owns or controls many attractive building sites and works with quality tennants and credit worthy national chains. These negotiations can take on many forms depending on the needs of the client. The most common of our transactions include the following:
- Outright sale of the land
- Ground lease
- Build to suit then lease
- Build to suit then sell
In the instances where there is an ongoing ground lease or property lease, Southeast Premier Properties is offering the property for sale at market based CAP rates. In all instances, properties offered will have the following characteristics.
- 10 to 15 year triple net leases
- Well-built structures made to last with limited maintenance
- Strong credit worthy tenants
To learn more about our Commercial Division partner, Bradley Construction, visit their website at: www.bradleyconstruction.com
Carter began his career with 30 years in the energy industry holding various executive positions with Consolidated Natural Gas,
headquartered in Pittsburgh, PA. While with CNG Mr. Funk headed several subsidiary companies including an Ohio distribution
company, an energy marketing company and an international company with electric and gas holdings in Australia and Argentina. Mr. Funk served on the Board of Directors of companies in the United States, Canada, Australia and Argentina. After CNG was acquired by Dominion Resources, Mr. Funk moved to Ohio to become President of Belden Energy Services Company
(BESCO) where he expanded the company then led the sale of BESCO to First Energy Corporation. He then provided
Energy Consulting services to First Energy and other major energy companies including Shell Oil, Hydro Quebec, ComEd (Exelon), Amerada Hess and Equitable Resources before deciding to move to Florida and expand the dry cleaning business he had just formed with his son, Chris.
By blending sophisticated management systems with Mom & Pop service levels, the dry cleaning operation quickly grew to the largest in NE Florida surviving the economic downturn through economies of scale and strategic diversification into Restoration dry cleaning.
Recognizing the unprecedented returns in real estate investing, the father son team began accumulating residential rental properties. After developing a proven acquisition, rehab and rental process with their own equity, they were able to attract investors seeking high yields and diversity from stock markets. Recent partnerships with well funded investment firms has accelerated the expansion of the real estate business.
Mr. Funk has an engineering degree from Case Western Reserve University and a MBA from West Virginia University. Mr. Funk’s wife, Peggy, has been active in the dry cleaning business on an “as needed” basis and is currently very active as a Realtor assisting in the real estate business.
Chris Funk is a driven business executive with a commitment to excellence in everything he does. These traits surfaced early when Mr. Funk achieved the number 1 National Ranking and won the North American championships in Three Day Equestrian Eventing while still in high school. Mr. Funk came to Florida in 1999 to attend Flagler College. While in college, he started a laundry and dry cleaning business that has grown to be the premier dry cleaner in North East Florida. Mr. Funk’s vision and drive toward business development and growth led the company into diverse markets such as fire restoration and government contracting. Those markets were less affected by the economy and helped the company continue its growth during the economic recession.
Mr. Funk was quick to recognise the opportunities in real estate markets. He managed the companies initial investments into rental real estate and recognized the opportunity to bring in outside investors. He then developed the marketing plan and located outside investors and led the formation of multiple real estate partnerships. Driven by the need to provide superior service to investor clients, he was the founding Member of SunCoast Property Management LLC.
Mr. Funk then recognized opportunities in commercial real estate and developed a plan to enter that market segment. The business plan attracted the attention of a major Florida Commercial Real Estate developer and led to the formation of Southeast Premier Properties LLC. Mr. Funk continues to direct each of the real estate partnerships with a total commitment to excellence and the best possible returns for investors.
Mr. Funk has a management degree from Flagler College. Mr. Funk’s wife, Marcea, remains active in the equestrian arena as one of the country’s premier riders and trainer of horses and riders.