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Updated over 6 years ago on .

User Stats

19
Posts
1
Votes
Andre Mccollough
  • Real Estate Broker
  • San Diego, CA
1
Votes |
19
Posts

Large waterfront Townhome flip in Delray Beach - Need advice.

Andre Mccollough
  • Real Estate Broker
  • San Diego, CA
Posted

Hi Everyone , I wonder if I could get some ideas. 

The nuts and bolts of this is :

I am an experianced flipper that does mainly average type homes(over 100 flipped) in multiple areas.  We found a high end project in Delray Beach.I have bought a 3400 sq ft condo/townhome on the ICW that needed to be gutted and modernized. 

Bought for low 800's. ARV will be in excess of 1.7 mm. Just received the awesome permit ready plans and are ready to start(place is already demoed) We have a 90 % ltv loan with a lender at 10% that includes about half of the rehab money needed(135k of 250k).

Holding costs are about 10k a month. 

Looking for a source of about 150-200k to finish the project. 

Would be interested in partnerships/loans/crowd funding etc.

Any ideas and similar experiences would be greatly appreciated. 

thank you