Mid Florida Investment Properties, LLC
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Princeton Home In College Park (Update 1)
Our 400 Princeton ave home is coming along slowly. Our permits and plans took longer than we liked but everything is approved and now things are moving along. This former 2 bedroom, one bath and 1182sqft will be transformed into a 4 bedroom, 3bath and over 2000sqft. We will do this by building out the attic space and adding a master suite with bonus room over top. Our budget for this project is $80,000... [Read more...]
Harmon House In Winter park (Update 1)
Here are some pictures of the Harmon house in Winter Park Florida. This is the 7th rehab I have started this year and I am closing in on my goal of 12 rehabs this year. This rehab we won't be changing the floor plan too much. We plan on making the kitchen bigger, the master bath bigger and updating everything. I will update this post with more pictures as more work is completed. Here... [Read more...]
Downtown Orlando Flip A Huge Success
The Orlando real estate market is still doing very well for property rehabbers. Mid Florida Investment Properties has been extremely busy rehabbing in Orange and Seminole counties. Out of the 5 rehabs in our inventory we have one closing today, two pending and closing soon, one just completed and on the market and one in the rehab process. This month we are looking for two more properties... [Read more...]
East Orlando Flip On Bryston st
Here are some before and after pictures of the Bryston home in east Orlando. Below you can see we took the garage door off and added a window to the garage conversion. The garage was already converted into an extra room and we just made it better. We also painted and changed out the front door. Front finished Below you can see what the inside of the converted room looked like. You had to enter... [Read more...]
Orlando Home Flipping Update For May
Here is our latest update on some of our recent buyer rehabs and MFIP rehabs. Nobody wanted the 3931 Bryston property so I am rehabbing it myself. I purchased 8146 Shriver in the same neighborhood as 3931 Bryston. The rehab took under 10 days and I already have it under contract after 1 week on the market. I should be out of this property under 60 days. 3931 Bryston is going to take under 10 days... [Read more...]
62 Acre Approved Subdivision
A 62-ACRE APPROVED SUBDIVISION IN NW LAKE COUNTY NEAR THE VILLAGES ASKING PRICE: $3,195,000.00 OWNER IS HIGHLY MOTIVATED AND IS OPEN TO LOOK AT ANY AND ALL OFFERS 62 ACRES PLATTED FOR EIGHTY-SEVEN (87) 1/2 TO .88 ACRE LOTS – AN APPROVED SUBDIVISION. APPROVALS, REPORTS, SURVEY, ENGINEERING ETC. COMPLETED. PRICED BELOW LAND VALUE!! -... [Read more...]
If you’re not flipping homes, what are you waiting for?
What have I learned since my last property update a couple of months ago? The same doom and gloom fills the airwaves on TV, radio and in the news paper. All the talking heads and writers are wrong again. I have learned over the last 10 years that people who are not investing in real estate should not be reporting on the real estate market. I have an alliance with 12 other wholesalers here in town and... [Read more...]
Real Estate Invsting in Central Florida
With its gorgeous year-round weather, world-famous theme park attractions, an eclectic array of restaurants and clothing boutiques, nearby beaches, and sizzling nightlife, Central Florida is one the nation's most prized residential gems. When you add award-winning grade schools and universities, booming high-tech industries, and no state income tax to the equation, investing in the Central Florida... [Read more...]
How to Make money with Fixer Uppers
Making money with a Central Florida fixer upper has become a simple and lucrative enterprise, especially with the variety of foreclosed homes and other inexpensive properties available. Since the current real estate market favors the buyer's pocketbook more than the seller's, it is a prime time for investors to buy up fixer uppers. What is a "Fixer Upper?" A fixer upper is a home... [Read more...]
Understanding Real Estate Owned (REO) Properties
Real estate owned properties (REOs) are foreclosed properties that are owned by a bank. Why are these properties owned by banks? 1) Because the homeowner was unable to pay off the mortgage. 2) Because the property failed to sell at a foreclosure auction. Central Florida REOs are attractive to for several reasons. One of the most important advantages is that all of the home’s liens (property-related... [Read more...]
How to Make Money Flipping Homes
Flipping homes in Central Florida has become a very lucrative enterprise. Real estate investors add value to a bargain property by performing a few choice home repairs. These repairs may include new bathroom tile, colorful landscaping adjustments, upgrade kitchen appliances, fresh carpet, and more. With a little time and a little capital, anyone can successfully flip a home in Central Florida. So if... [Read more...]
Guide to Buying Home Foreclosures
Whether you're a relocating family or an investor looking to make money flipping homes, Central Florida foreclosures deserve your attention…especially the homes in Downtown Orlando. Buying a foreclosed home will afford you the freedom to make lovely interior adjustments, colorful landscaping upgrades, and a variety of other property embellishments. What is a Foreclosure? A foreclosure occurs... [Read more...]
Home Flipping In Orlando Florida
Do you ever wonder what happened to some of those Mid Florida Investment Properties you passed on? Here is an update where these properties stand at the moment. I can’t share the contract price on the pending properties until they close. I will tell you that most of the offers are at asking price or more. We have a lot of rehabs almost ready to go on the market and I will keep you updated on the... [Read more...]
FHA – Flipping Rule Waiver If Value Increased More Than 20%
For property sales prices that are 20% or more above the Seller’s acquisition cost the following must be performed: Keep in mind that if the value increases by 100% or more, a second appraisal is required: Appraiser must indicate the Seller completed legitimate renovation, repair and rehabilitation work on the subject property to substantiate the increase in value. If the work was not performed,... [Read more...]
Winter Park Home Flip Video Part 4
Here is part 4 of 4. The last video on my flip in Winter Park Florida. This video shows the rehab on two bathrooms. The hall bath we gutted and replaced a lot of rotted wood. It was just like most the bathrooms we rehab. I like to gut bathrooms and start over unless the tub and tile look updated. In the master bathroom we pushed the shower back a little over two feet into one of the master bedroom... [Read more...]
Winter Park Flip Part 3 of 4
Here is part 3 of the Winter Park flip. In this video I show the kitchen transformation and bedroom upgrades. The kitchen was gutted and replaced with new custom cabinets with nice hardware, granite counters, stainless steel appliances and a tile backsplash. Kitchens are very important rooms when flipping homes and the area I give the most attention. I always make sure there is plenty of cabinet space... [Read more...]
VIDEO: Winter Park Flip Part 2 of 4
Here is part 2 of the Winter Park Florida home I just finished rehabbing. In this video I show how I take a porch and turn it into a den and indoor laundry room. Before the washer was in one closet in the kitchen, the water heater was in the other and the dryer hook up was outside in the utility shed. I turned the 2 closets in the kitchen into pantries and moved the water heater, washer and dryer... [Read more...]
Winter Park Flip Part 1 – Video
Here is the exterior of the Willow property I just rehabbed. This is my first time making a video of a rehab from start to finish. I learned a lot after the fact in regards to filming. The next house I will do a better job now that I have a tripod and figured out how to film the before and after shots from the same view points. If you want to flip a home like this property check out our website at... [Read more...]
HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS
The HUD Secretary announced Friday afternoon a temporary lift on the 90 day FHA seasoning rule. This is HUGE!!! In an effort to speed sales of distressed properties and homes that have been rehabbed by investors buying and selling for a profit, FHA will no longer require that the property be owned by the seller for 90 days! This rule waiver is scheduled for one year and designed to “stabilize home... [Read more...]
Orlando ranked 3rd best Real Estate Market’s by CNN Money
Here is some interesting data put out by the folks at CNN Money. It’s interesting to see that homes have risen 132% since the boom started, and have only come down 40% since the peak. Something to keep an eye on, is that they predict the bottom out to occur in Q2 of 2011! The Central Florida Real Estate Market has held up pretty well compared to most of the country, I anticipate that trend to... [Read more...]
Orlando Home Flipping Updates
The 2013 Lake Dr home I purchased for $114,000 back on June 12 2009 has sold! This was a fun rehab that took just over 30 days to complete. We just sold it on 11/12/2009 for $212,500, exactly 5 months. Huge profit!! Here is the 31 Areca home in Azalea Park. MFIP sold this home to another investor back on 6/22/2009 for $52,000. This home recently sold on 11/13/2009 for $122,900. The investor made a... [Read more...]
New Investment Property In East Orlando
Check out this great rental or flip in East Orlando. This home has 4 bedrooms, 2 bathrooms and over 1400 sqft. It would take under $5,000 to get this home rental ready and under $20,000 to flip it. COMPARABLES - 959 Park Manor dr, 4/2, 1338sqft, sold $140,000 on 10/26/2009 - 10598 Jane eyre dr, 4/2,1619sqft, sold $140,000 11/13/2009 - 900 Wages way, 3/2, 1304sqft, sold $143,000 on 7/10/2009 - 755... [Read more...]
Homebuyer Tax Credit Extended
Homebuyer Tax Credit Extended… Plus, New Tax Credit for Existing Home Owners! Homebuyer Tax Credit Update! TAX CREDIT OVERVIEW Who Gets What? First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit... [Read more...]
5110 Old Cheney Highway Video
Investor’s Confidence Growing
Inventory is down and bidding wars are increasing on the hot properties. I am putting in twice as many offers to get the same amount of properties as last year. Investors including myself are finding it a lot easier to move properties than the last few years. This is creating a buzz that is getting investors excited again. Just in the past couple of months I have received calls from several of my buyers... [Read more...]
The Maitland Flip
The Maitland house is now finished and it turned out better than I ever imagined. Randy, the owner of this flip used his custom home building skills to turn this dated home into a beautiful master piece. This home had a lot of quirky areas that Randy had to get creative with. This Maitland home was purchased from Mid Florida Investment Properties for $130,000 and is now currently on the market at $259,900. Here... [Read more...]
Miguel’s Azalea Park Flip (part 2)
Miguel has completed his flip that he purchased from Mid Florida Investment Properties about 3 month’s ago. Miguel listed his property with my broker Sand Dollar Realty Group and we have a full price offer after 2 day’s on the market. I actually had 3 offers on this listing in 2 days and Miguel will be earning a nice payday at closing. Miguel will net a profit in the $45,000 range... [Read more...]
Why Buy From Wholesalers?
Wholesaling is finding properties, getting them under contract and selling them to other investors or buyers. I wholesale because I find several homes and can only fix up so many at a time. This is another reason I actively search for cash investors to partner up with. You can check out our Real Estate Consulting Services for more info on working with me. Retailing is what you see on TV shows like... [Read more...]
Understanding REO Properties
Real estate owned properties (REOs) are foreclosed properties that are owned by a bank. Why are these properties owned by banks? 1) Because the homeowner was unable to pay off the mortgage. 2) Because the property failed to sell at a foreclosure auction. Central Florida REOs are attractive to for several reasons. One of the most important advantages is that all of the home’s liens (property-related... [Read more...]
Orlando housing market nears a balance between buyers and sellers
(July 10, 2009 – Orlando, FL) A steady increase in the pace of Orlando home sales activity is creating conditions that are within striking distance of a balanced market. Inventory level reflects an 8.37-month supply at the current pace of sales; a market with six months of supply is considered by housing economists to be balanced between buyers and sellers. Members of the Orlando Regional REALTOR®... [Read more...]
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