House flipping in FL

[Account Closed]

Hi there - newbie here just reading up on all the great resources here on BP and researching all the different REI options. Interested in the Florida markets for flipping and/or BRRR in Broward, Charlotte, Sarasota counties.

• -Are there any fulltime flippers here that work specifically in FL (i.e. your sole job)? 
• -How long have you been flipping?
• -What is your role (business side; construction side)?
• -Do you partner with other flippers on the construction side? Or have employees or vendors that you specifically hire/work with?
• -How do you fund your flips? Do you partner with other flippers for funding? 
• -What is your average turnaround on a flip (initial purchase through construction and then sold)?
• -How many flips are you managing/working on at the one time?
• -What is your success rate (i.e. given expected profit, did you meet your expectations of profit? Percentage success rate)?
• -What has been the hardest issue to resolve in flipping (eg contractors/vendor issues; finding properties; tight margins etc)
• -What changes have you made along the way that have made you more successful in flipping?

Cheers!

Steven.

[John Thedford]

Personally I don't flip but I know some very successful ones. Deals are tough so they are settling for smaller margins on most of them but hit a home run every now and then. They use their own money plus sources such as myself. Keep in mind flipping is a JOB--and when you quit the income stops. Same thing with being an agent. Stop listing/selling and no more income. My friends that I referred to above are probably doing maybe 50 a year. I know they do VERY well. Personally, I have gone the buy and hold road. I get monthly income and don't have to hustle as hard. As far as their turn times, I have loaned them money and been paid off in as little as 30 days but the average time frame seems to be about 3-4 months.