NEW YORK, NY, United States, via ETELIGIS INC., 10/30/2014 – – Profitable Developments, Inc. (OTC Pink: PRDL) (PINKSHEETS: PRDL), announced today, that they have entered into contract to purchase four additional properties in Pennsylvania. The properties are distressed assets and the contract price represents a steep discount to market value.
From the properties acquired in the initial phase, the company has successfully sold two-thirds of the properties, at a profit of between 43% and 100% of the purchase price. These new properties were identified and chosen because they represent similar opportunities for profit.
“These additional four properties represent an opportunity for significant upside,” said Carl Grant, President of Profitable Developments. “We have been working closely with an advisor to identify and purchase these distressed properties. Our initial acquisitions proved successful with gains of between 43% and 100% of the purchase price. We intend to continue with our strategy and increase the number of properties purchased in each transaction.”
“We are actively working to identify the best distressed assets that we can purchase for a fraction of their value and sell for a significant ROI, this is a very exciting time for all involved."
“We are extremely pleased with the outstanding returns on our first round of purchases of distressed real estate. We expect to keep increasing the amount of properties we acquire each month. The recent return of over 2 Billion shares, means this will have an even greater impact on our shareholder value,” commented Carl Grant, President of Profitable Developments, and further said, "We are really excited to begin working with investors who are committed to funding our real estate investments.” Mr. Grant also noted, "This first step is a long awaited and crucial step in increasing shareholder value through acquisitions of distressed properties at a steep discount and selling them for large percentage gains. We are already negotiating to buy larger groups of properties.”
About Profitable Developments, Inc.:
Profitable Developments, Inc. is a Property Development Company listed on the OTC markets as a Current Information Company. Specializing in key locations globally in both under-priced land as well as in Property, the Company has an aggressive strategy to capitalize on the rising prices of Real Estate.
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.
Profitable Developments, Inc.
SOURCE: Profitable Developments, Inc.