We recently bought over 40,000 sqft of wood flooring with The Laminate Factory. We have it priced at $2.50 per sqft, it original sold for $6.50 per sqft. I used this same wood in my Twin Oaks house that I recently sold in Oviedo and it looked amazing. I am also using in the 4 houses I am doing right now. This wood can be refinished up to 3 times and has 25 year finish warranty and lifetime structural... [Read more...]
New construction to be complete by 7/1/2013. This custom home will have 5 bedrooms, 3 full baths, 2 car garage and have 2568 sqft under air. This property was originally going to be rehabbed until it became more cost effective to rebuild. Our plans are being submitted this week and hopefully a permit will follow soon after. The price for this home is $449,900.
Stunning and completely new, this charming bungalow is in the heart of College Park. The entry doubles as a porch perfect for relaxing and enjoying the view. The formal living areas are beautifully finished with oak hardwood flooring. The stacked stone fireplace adds comfort and charm to the formal living room. The kitchen is a chefs dream with kitchen aid stainless steel appliances, exotic... [Read more...]
Here is our latest flip to close. We bought this home in Oviedo for 145k and sold in just over 90 days for 300k. We had a buyer a month before we finished rehab, another flip without needing the MLS. This home also appraised at 312k. I had a few buyers that I tried to wholesale this to tell me that 280k is the max ARV. Not only did appraise for a lot more, it was also a easy home to sell. We... [Read more...]
Here is our latest flip in the downtown Orlando historic district. This home was 900 sqft when we purchased it and we increased the size to 2350sqft. The original 2/1 is now a 4/2 and completely updated.
Here is one of our latest Orlando Florida flips. This home is located in the college park area of Orlando. When we bought this home it was a 2 bedroom, one bath home that was only 900sqft. We built an addition on the back making a 3 bedroom, 2.5 bath and increased the size to 1860sqft.
Below you can see we added a front... [Read more...]
Here is an update on one of our latest investment properties that we are flipping down town Orlando. This home is located in the historic district so it has been a slow process of getting things approved and inspected. This home was 1100sqft when we bought it and we tore an old addition off the back. The new addition is over 1200sqft bringing the new square footage to over 22oosqft. The first picture... [Read more...]
Here is our latest flip purchased on 4/12/2012 and sold on 6/13/2012. Only 61 days from start to finish and everything went smooth except the appraisal. When we bought this home we wanted to sell for 175k and instead listed it at 195k. The good news was we had buyers lined up at 195k. The bad news is the home only appraised at 184k. This flip still turned out very good in the end and we have moved... [Read more...]
Our Marcia dr flip has sold and turned out to be a solid flip. We purchased this home less than 3 months ago and had 3 full price offers within a few day’s on market. This home was purchased at $53,000 and sold at $119,000. We had right at 30k in the rehab and profitted 27k. This was another home we had wholesale for almost a month and no takers.
The Winter Springs flip on Evergreen has sold and went extremely well except for the appraisal. The home was only on the market 2 day’s and I recieved a full price offer ($99,000). We left the home on the market a couple more day’s and recieved 2 more full price back up offers, then we marked it pending. The first apprasal was for more than asking and the second came in at $95,000. I recieved... [Read more...]
For many years now, plenty of people that are wealthy have gotten that way through investing inreal estate.Real estate investments are one of the things that can bring ongoing financial profits every month. When it increases in value, your investment becomes that much more important and profitable. You can get your money’s worth when the value of your real estate investment increases. However, people... [Read more...]
It is now official, FHA has extended the Waiver of Anti-Flipping Regulations through December 31, 2012.
This extension will continue to allow borrowers to use FHA-insured financing for the purchase of properties that have been owned by the seller for less than 90-days, meeting the same conditions as previously permitted by FHA.
In cases in which the sales price of the property is 20 percent or... [Read more...]
While you see businesses come to life, peak and fall, you may be thinking if a business of real estate is worth investing in. Would if the same thing happens to this business. You wouldn’t want to invest in something that won’t be substantial. Unlike other businesses, real estate is always a good investment to make, and may be the only real mainstay market.
Even though the real estate market... [Read more...]
Here is a look at our Pinecrest flip that we just completed in downtown Orlando. This flip took over 60 days because of permitting the back garage conversion. The new apartment in the back is now on its own separate water, power and has its own address. This apartment has its own living, kitchen, bedroom and full bathroom. This space could also be used as a professional office as it is zoned. The... [Read more...]
Here is one of our latest flips in the conway area located in Orlando Florida. We purchased this bank owned foreclosure for $70,600 and sold for $149,900. This flip was only on the market one day and closed on time. We updated everything inside, doubled the size of the master bath, cleaned up the pool and replaced the A/C system. Both conway homes we rehabbed in the last couple months sold really... [Read more...]
Here is the before and after video of our latest flip in Oviedo Florida. This home was an estate sale purchase that we bought from another local wholesaler. This flip took about 1 month to complete and $30,000 to complete. Check out the video to see the tranformation.
NEW APPRAISAL STANDARDS
If you have been in the real estate industry over the last few years the one constants in our business is change. Below are the current appraisal changes that are now in effect.
Will they make deals easier or harder to close?
Probably both, but either way you should be aware of these changes and how... [Read more...]
The Milford Estate flip is all finished and on the market. Bruce from Canada did an amazing job on this house and created 800 sqft of living space. This is a very unique home sitting on 1 acre in a country like setting. Bruce changed the exterior look of the property by adding a front porch and 2 car garage. Check out the before and after video to see for yourself.
Here is the complete rehab video from start to finish on our latest flip in Winter Park Florida. This home is now on the market at $114,500 and the repairs were just under 25k. Most of our properties are Bank owned, short sales or pre foreclosure. This home was purchased through an estate sale and the closing went smooth.Check back soon to see our property on Jan dr that will be complete this week... [Read more...]
Check out our Mt Vernon flip video. This video shows the transformation from start to finish. This flip was purchased at $80,000, $45,000 in repairs and now under contract at $183,000. Only 2 days on the market!
Here is the Dawley rehab we just completed. MFIP purchased this home for $67,500 and total rehab cost was just under $25,000. The home is currently on the market at $144,000 and we have received 5 showing requests in the first 2 days. We have 2 more properties almost complete and a major project just started on Pinecrest. Very busy summer for flipping.
Take a look at this flip using the view with PicLens link in the left hand corner above the photo's. In the photo's I explain the changes made to the property.
Check out our latest flip downtown on Mount Vernon St. We purchased this 2/2 for $80,000 and turned it into a 3/2. The total rehab cost $45,000 and we now have it on the market at $189,900. This home is located in the historic... [Read more...]
Cautious and market-aware investors turn to real estate. The growing interest in investment properties has been partly attributed to the recent economic ups and downs on Wall Street. While Wall Street has seen rapid changes, the gradual change that is typical of real estate market trends has become the sensible and reliable alternative for risk-wise investors. This is because the... [Read more...]
EFFECTIVE APRIL 18th, 2011 (This coming Monday)
FHA recently raised there monthly MIP which goes in effect on April 18th. You would be surprised how many mortgage people do not know this. That means if you are working with a borrower that is negotiating a house right now that is doing an FHA loan, the payment they were quoted will be lower that what they will actually get. ... [Read more...]
When was the last time you were in Orlando? If you’ve been before, you already know what a wonderful place it is, with a little bit of something for everyone. With a thriving Downtown, the academia surroundings of the University of Central Florida, the more cultural side of Winter Park and the luxury of Isleworth and Windermere areas, there is bound to be something to connect... [Read more...]
Estimating rehab costs
There are a couple of different ways to estimate repairs when looking at investment properties. If you have control of the property and inspection period any of the options below work. If you're buying from a wholesaler then option two and three are your best choice. Experience will play a big role in what method you chose and finding an experienced investor to mentor you... [Read more...]
As of February 1, 2010, the FHA will be waiving their 90-Day Rule for flipping houses. The waiver is planned for 1 year, This is good news for many investors. Actually it is great news for the entire market. One of the most robust parts of the markets has been investors buying these home cash and then regular home buyers purchasing these houses with FHA financing. I think this is a great move by FHA... [Read more...]
There are a number of ways wholesalers of real estate investment properties may find the deals that keep them going. Ideally, a good investment will be one where an investor can mark-up a property slightly and pass it on to another investor. One simple way to find these kinds of deals is by salvaging previous deals.
When a wholesaler’s property is under a contract, the “inspection... [Read more...]
The Orlando area is mainly known for it’s theme parks, world-class resorts, and beautiful weather. Not many people know, however, that Orlando is also home to several working television and movie studios, a thriving music scene, and a passion for sports. Orlando Florida is a virtual Hollywood of the southeast, teeming with celebrities from every entertainment field.
Movies and Television
With... [Read more...]
There are many different reasons why someone initially moves to Florida and settles into a new community. Whatever the reason, there are many factors to take into consideration when deciding what neighborhood to move into. When relocating, it is important to keep in mind that you are not only buying a home, but also buying into a neighborhood. That is why it is important to consider... [Read more...]