DALLAS, Aug. 14, 2014 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (OTCPK:LIGA), a Company focused on residential and commercial real estate, announces it has successfully acquired several more foreclosure and short sale properties over the past six months, upgraded the homes, and have turned a profit through resale or owner financed rental. LIGA has multiple properties that are currently on the market or are nearing completion. The total purchase price of homes so far in 2014 has totaled over $1.5 million. In addition to an improving market for its residential unit, LIG Assets is making progress on the commercial side through its new relationship with GTM Hospitality. Recently it was announced that GTM and LIGA successfully purchased the Wyndham Baton Rouge Hotel for just over $5 million, and the partners plan to continue its push in the hospitality space where it sees value. LIGA has already sold its interest in the Baton Rouge Hotel to generate cash for new deals.
"LIG Assets has several advantages over most television and standard fix and flip artists. The Company and its management have been based in the Dallas / Ft. Worth market for many years. LIG Assets has established multiple long term relationships with trustworthy, seasoned contractors, construction firms, agents, and sourcing brokers. Since LIG Assets is actively fixing multiple properties simultaneously, it can take advantage of bulk pricing and utilize nearly all its sourced construction materials," said Jeff Love, CEO of Lig assets. "We have also been able to retire a portion of company debt over the last quarter, which will be reflected on our upcoming financials," he added.
LIGA reports that it has certainly helped that the Dallas-area home price is up by 10.4% in the latest residential value report by Core Logic Inc. The Dallas increase compared median home prices in April 2014 with April 2013 data. Dallas was among eight major U.S. cities that were reported to have double digit percentage price gains. "Home prices are continuing to rise as we head into the summer months," said Anand Nallathambi, president and CEO of Core Logic. "The purchase market continues to suffer from a dearth of inventory which we expect will continue to drive prices up over the year."
LIG Assets is interested in investors who might want to partner on specific fix and flip projects. The Company suggests interested parties contact Richard@ligassetsinc.net for more information
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a Company focused on residential and commercial real estate. Through its alliances with hedge funds, mortgage brokers, and hard money lenders, LIG Assets plans to expand its residential portfolio and increase commercial property transactions. LIG Assets, Inc. currently trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT: LIG Assets, Inc.1700 Pacific Ave. Suite 2600
Dallas, TX 75201
Email: Richard@ligassetsinc.net or Jeff@ligassetsinc.net
Investor Relations: IR@pricetargetmedia.com
Source: LIG Assets, Inc.