INVESTMENT THESIS
A significant value creation opportunity for SRER shareholders comes from SearchCore’s now completed corporate pivot from technology provider to becoming a major independent...
NBT Equities Research: Initiating Coverage on SearchCore, Inc. (SRER) with 500% Upside
SearchCore, Inc. (SRER) a manufactured housing retail center owner and operator that manages and operates its retail centers through its wholly owned subsidiary Wisdom Homes Of America, Inc. ("Wisdom Homes"), today announced that the Company has entered into an exclusive option to improve and sell 25 residential lots in Sherman, Texas. Wisdom Homes intends to improve and permanently affix manufactured homes onto the lots.
"We are continually striving to make the manufactured home buying experience easier and faster for our customers. Our goal is to help our customers by assisting them in finding and improving residential lots on which to locate their manufactured homes, or by being able to offer our customers a manufactured home that is already permanently affixed to the land, with all the improvements in place," stated Mr. Brent Nelms, President of Wisdom Homes. "One of the major benefits of being able to offer a manufactured home that is permanently affixed to the land is that the sale is considered a real property (real estate) transaction as opposed to a chattel (personal property) transaction. This important change in transaction classification allows us to utilize the more than 23,000 licensed realtors in Texas to access the listings and market our manufactured homes."
"The Sherman area is appealing for a number of reasons," said Mr. Jim Pakulis, CEO of SearchCore. "It has a robust, diversified industry base that is not dependent on oil production alone. Geographically, it is a continuing extension of our existing footprint in the north/northeast area of Texas. The Sherman area allows us to market to home buyers in both Northern Texas and Southern Oklahoma.”
Full story here http://finance.yahoo.com/news/wisdom-homes-increases-residential-lot-161247087.html
Here is our full SRER research report and .30 cent price target.
Plus our exclusive interview with the CEO of Searchcore.
Founder and Editor-in-Chief for NBTEquitiesResearch.com. Contributor and Anchor for the Fox News Channel and Fox Business Network 2000-2013. Chairman & CEO of NBT Group, Inc., a boutique private capital investment bank and investor relations organization.
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