NEW YORK, NY, United States, via ETELIGIS INC., 10/31/2014 – – Profitable Developments, Inc. (OTC Pink: PRDL) (PINKSHEETS: PRDL), announced today, that they have successfully completed the sale of the first of four residential properties they recently entered into contract to purchase. The property was sold for a gain of approximately 46% greater than the contract price. The property received many offers shortly after it was listed and closed very quickly, as we expected.
Profitable Developments considers each sale a double success. First we realize significant returns on our investments for our shareholders. Second, each sale represents a success in our mission of putting American families back into homes at affordable prices. While the increased pricing in the real estate market and bank foreclosures have left many American families without homes, we aim to help Americans get back into homes by offering the distressed properties we purchase at a steep discount, direct to consumers priced well below market rates.
We intend to sell the remaining residential and commercial properties in our portfolio in an expeditious manner so that we can continue to acquire larger portfolios of distressed real estate and turn them over quickly to avoid having a large inventory at any given time.
“These are exciting times for management and our shareholders as we begin to enter into contract for larger amounts of properties and successfully sell those properties for significant gains in a relatively short period of time,” commented Carl Grant, President of Profitable Developments. Grant further said, "We are really excited to be very close to signing a line of credit from private investors which would allow us to buy greater numbers of properties at one time. Our intention to have a shareholder conference call in November after the financing agreement is signed.”
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.
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.