Here is one of our latest flips in Colonialtown. This was originally a 3 bedroom and 1 bathroom home with outdoor laundry area. We changed the floor plan on this home making the living room and master larger. We also added a bath to the master and created indoor laundry area. In order to make indoor laundry we had to use part of the garage, so we built out the front of the garage. In the before and... [Read more...]
There is a hot topic amongst many in the Central Florida real estate market and that is flipping houses. This particular investment strategy involves three major steps which could be described as follows:Buy a piece of real estate (preferably somewhere in Central Florida)
Fix it up (preferably for less than you paid for it)
Turn it around (or flip it) quickly on the market at a higher priceYou... [Read more...]
The world of real estate investment can be very exciting and quite lucrative for people who know what they are doing. That being said, there are several real estate investing myths that could get newcomers pointed in the wrong direction. The investment market has turned around here in Orlando over the last year, and we’d love to see you starting off on a solid foundation.
Today, we are going... [Read more...]
A new report shows that flipping houses may be the way to go in the Orlando metropolitan area. The gross profit from the average flipped listing grew to $37,615 last year– compared to $36,518 in 2012. The report has certainly peaked the interest of many savvy real estate investors in the Southwest.
The average selling price for a home in the Orlando housing market increased by 20 percent over... [Read more...]
Here is another brand new home that will be on the market by Feb 10th. We received our permit to build on Nov 1st and started the next day. Prior to getting our permit to build we had to get a permit to demolish home. This took about 3weeks from the time we applied for permit to the time home was demolished. Our time to build is right around 100 days on this project. It wasn’t easy considering... [Read more...]
Here is the before pictures of the New Hampshire house. We demolished the front portion of the home to the right and the garage.
When complete we will have 4 bedrooms, 3 bathrooms, den, formal living and dining, huge kitchen with breakfast area and large family room.
The total heated square footage will be just over 280sf. This home should be on the market by March 7th and listed at 650k.
The... [Read more...]
Economists and real estate experts made predictions for the housing market in 2014 at a recent summit in Orlando. The current forecast is that prices will continue to increase by 4 to 6 percent– a markedly decreased rate compared to this year. It looks like 2013 could be a tough act to follow…
Frank Nothaft– Chief Economist for Freddie Mac– doesn’t expect home prices to grow... [Read more...]
The current growth in the housing market has tempted more people into taking the investment plunge. Is this the right move for you? To make the most out of a real estate investment (or even simply to avoid disaster), you’ll need to make intelligent decisions from the get-go.If it’s your first time investing in the Central Florida housing market, here are a few investment tips that you should... [Read more...]
Realtors in Florida have joined their voices with others in asking Congress to discontinue some of the reforms that have been made to the nation’s flood insurance program. If you’re not familiar with these reforms, then it is probably because you don’t own property within the lines of federal flood-zone maps. As of this month, homeowners with flood insurance will be contending with massive premium... [Read more...]
For all you optimistic investors out there, the housing market in Florida showed significant improvement during the month of August. Closed sales increased, median home prices have risen, there are more sales pending, and a nice reserve of homes available for sale. The data, which was released by Florida Realtor’s, could help build consumer confidence for 2014.
Compared to last year, closed sales... [Read more...]
Here is our latest new construction project located in the Colonial town area of Orlando. This home took under 120 days from start to finish. We were able to keep the old driveway and their was an old block building in the back with a caved in roof. We used part of that building to build guest house and garage. The main home was rebuilt from it’s original 1100 sqft to a brand new 1530 sqft... [Read more...]
Our downtown home is now moving along. Here are some pics of our progress. This home will have 5 bedrooms, 3 full bath rooms, 2 car garage and 2650 total living area. We should be done in about 45 more days. More updates to come.
Stem wall.Flooring decking.
Interior walls.Second floor framing.
Setting the... [Read more...]
Here is another downtown property rehabbed and pending in 4 days. This home was purchased at $150,000 and sold for $349,900. The rehab included turning this 2 bed room and 1 bath home into a 3 bed room, 2 1/2 bath home. This home had attic space with very low ceilings, so we tore out the drop ceiling, added spray foam insulation and raised ceiling. This gave the attic high ceilings and helped define... [Read more...]
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
Effective 9-1-2011If 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...]