Contractor/investor new to BP

[Michael Schueler]

Hello, My name is Michael Schueler, I'm a general contractor that's done 29 flips and rental rehabs for a investor all over the Tampa, pasco, and pinellas county area, now it's time to make the money for my self. I know how to make houses sell quickly, keep prices down on rentals but still look amazing, the only issue is, I've never found any properties for myself beside the house I live in, I have a good idea how to, but the investor kind of kept that part a secret to me. I only have about 15-20k I can use to invest, so I need to figure out how to get creative financing, the construction rehab part isn't a issue cause my construction company will do all work like we already do. I want to do a few flips to build funds then start buying and holding for 3-5 years then sell after re copping my money on the properties if it's smart to do at the time. Im not opposed to partners or other investors, I just want to get going before the market tanks again like 2006. If anyone can help me find the best way to locate great properties under market value so my ARV still leaves money for me to make money after the rehab I would really appreciate it. I was thinking auctions, foreclosure websites(but I can't find them)I put "we buy houses" signs out to test the waters and got whole sales calling, which could work, but I just want great deals and help with financing. Any help is appreciated. Thanks Michael Schueler

[Toula McGinley]

Welcome to BP Michael,

I am also a new investor and live in the area. I have bought a property through HUBZU (auction). There are a lot of foreclosure websites that you can google (i.e. foreclosure fortunes.com) most of their inventory is already sold. I joined a local REIA and I receive a lot of wholesale emails but I haven't found the right deal so far. Just a lot of people trying to take advantage and charge me for their knowledge.

Most people have advised me to do marketing with letters, online, etc. I am just getting going on that so I cannot offer advice on whether it works or not. If it is a good deal and its on the MLS it does not last long and you have to have cash to compete.

There is a REIA meeting in Clearwater that meets on Thursday mornings and one that meets on Monday at 7pm at Hibachi restaurant on 49th street in Pinellas Park (7 pm). I attend the one in PP.

Best of luck to you. Pm me of you are interested in connecting. 

Stephen and Toula M.