Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago, 11/28/2018

User Stats

18
Posts
0
Votes
Andre Mccollough
  • San Diego, CA
0
Votes |
18
Posts

Large waterfront Townhome flip in Delray Beach - Need advice.

Andre Mccollough
  • 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