Investor · Tampa · Member since 2019 · 14 posts · 3 votes
Hey Everyone,
My name is Matt Brazis, I'm 31 years old and currently work in medical device sales. I'm looking at getting my real estate investing career off the ground and specifically looking into the Brrrr method for SF properties in the greater Tampa Bay area, with a special interest in Polk county. I like the central location between Orlando / Tampa and its more so in my price bracket. I currently have 55k saved (with a healthy personal reserve) and to build up my knowledge and make connections, I want to offer it as a hard money loan at a favorable rate in order to learn the ropes hands on.
Feel free to shoot me a message and would enjoy discussing in more detail.
Realtor · Central Florida-Orlando · Member since 2014 · 1k+ posts · 892 votes
5y
Hi @Matt Brazis. Money is easier to come by these days and no offense, but with 55k, you will likely be lending on a flip and only for the rehab portion. This means that you will probably be in Second position and won't have much protection. Just a thought
Real Estate Agent · Tampa, FL · Member since 2018 · 68 posts · 21 votes
5y
@Matt Brazis hey Matt my name is Jonathan and I’m a investor agent here in the Tampa area. Congrats on wanting to get started in the investing game. Would love to connect and see how we can help each other. Send me a message
Realtor · Central Florida-Orlando · Member since 2014 · 1k+ posts · 892 votes
5y
Hi @Matt Brazis. Money is easier to come by these days and no offense, but with 55k, you will likely be lending on a flip and only for the rehab portion. This means that you will probably be in Second position and won't have much protection. Just a thought
Real Estate Agent · Member since 2018 · 2 posts · 0 votes
5y
There is many things you can do, with around 55K you can as Shawn points out lend money for a rehab, but you can protect your self in many ways. You can ask to be a partial owner until the the loan is paid, making sure the money you loan still is within the ARV including any other outstanding liens. Positions in the liens is determined when it is recorded. Sometimes a lesser loan is in first position because it was recorded earlier. The reason I point this out, is that the property is bought with funds that is not recorded by the local county. Due diligence! If you loan money for a rehab you can charge a lot more than you are getting from you bank 1% a month is not unheard of for short term loans. That is what you can charge easily. The whole point make your money work for you! Always look for the WORST case situation, even if you break even, you learn from experience. No matter what, What stops most people is paralysis analysis.
JV Contractor Syndicate Piscataway, NJ · Member since 2015 · 283 posts · 24 votes
5y
Hi,
If you are interested in NJ, I have a property under contract. We have done several rehabs and consistently returned over 20%+. I syndicate as little as $15K