Looking into start investing in rehabs

[TOMAS DE JESUS]

Hello to all, I am Looking to start my first and many more to come flips,  I have a good team for tear down and remodeling, but I need guidelines on where to find deals and structure them correctly plug in numbers, etc any help will be very appreciated thank you in advance BP Community!

[David Ramirez]

Hey Thomas,

Welcome to BP! I'm based out of Tampa but do deals all over the state of Florida. I've been in real estate for a little over 4 years. I started by flipping properties here in Saint Petersburg and then transitioned into other strategies. My partners and I have been running a real estate meetup for 2 years now here in Tampa. You are more than welcome to attend.

Feel free to reach out if you would like to connect!

[Jacob Sherman]

the wholesale groups on facebook are a great place to start looking for deals . Realtors also do a great job at presenting opportunities 

[TOMAS DE JESUS]

Quote from @Jacob Sherman:

the wholesale groups on facebook are a great place to start looking for deals . Realtors also do a great job at presenting opportunities 

 Thanks Jacob I will have it in mind!

[Bob Stevens]

Quote from @TOMAS DE JESUS:

Hello to all, I am Looking to start my first and many more to come flips,  I have a good team for tear down and remodeling, but I need guidelines on where to find deals and structure them correctly plug in numbers, etc any help will be very appreciated thank you in advance BP Community!

 Be VERY careful, most of FL is correcting and will continue. Look at the inventory levels across the state, big increases. I live in FL and will not touch it. 

Good luck 

[Nate Armstrong]

Quote from @TOMAS DE JESUS:

Hello to all, I am Looking to start my first and many more to come flips,  I have a good team for tear down and remodeling, but I need guidelines on where to find deals and structure them correctly plug in numbers, etc any help will be very appreciated thank you in advance BP Community!

Hello Tomas,

For your first and future flips, you can try finding deals through wholesalers or realtors. Wholesalers often have properties at below-market prices, and realtors can help you identify potential deals in your target areas. Good luck with your flipping projects!

[Connor Hibbs]

Hi Tomas,

Like a few before me had mentioned, going through a wholesaler would be a good idea for you with having a good tear down and remodeling team. They tend to find the worse for wear properties at the lowest prices, so if you're looking to do heavy rehabs that's a good starting point. speaking with other flippers in the area or real estate agents would help give you the best idea of what you may be looking at for ARV's and rents if you planned on holding any of your properties.

I'd also recommend looking up a local Real Estate Investors Association (REIA) as they'll have local investors that you can bounce ideas off with.

[Skie Lewis-Hernandez]

Hi Tomas,

Welcome to BP! As far as plugging in numbers and ensuring you're doing so correctly I recommend using the calculators on BP as a starting point. You can study them as well as play around with numbers to help determine what an appropriate buy box for you would be. 

Best of luck on your new journey!

[Amber Stout]

Hi Tomas! I have a great agent that works mainly with flippers, as well as wholesaler contacts, and a hard money lender friend who shares weekly flip deals. If you have interest in any of those resources, send me a DM. 

[Joseph Stern]

@TOMAS DE JESUS hey Tomas, my brokerage specializes in sourcing investment properties. I can speak with you on the best way to approach this.

[Jackson Sincerbeaux]

Quote from @TOMAS DE JESUS:

Hello to all, I am Looking to start my first and many more to come flips,  I have a good team for tear down and remodeling, but I need guidelines on where to find deals and structure them correctly plug in numbers, etc any help will be very appreciated thank you in advance BP Community!

 Hey boss - I'd love to have a chat with you or connect with you. I would love to help you with this and finding some deals. Please shoot me a DM whenever you get a chance with your email and contact info !

[Obed Calixte]

why not knock on the doors in the neighborhoods that you are doing tear downs and remodels on? It sounds like you already know how to market/find properties for your construction work - leverage that same skillset to find flips.

You have an advantage over most beginning investors in that you know more accurately what the rehab costs will be for a certain project. That piece is often underestimated by many.

For the other key numbers:

The structure is Maximum Allowable Offer (MAO) = ARV - Holding Costs - Rehab - Closing Costs - Profit

ARV (after repair value based on recent sales within a 1 mile radius. Go conservative )

 - Holding Costs (loan payment, utilities, insurance, etc)

 - Rehab Costs (you will have a good handle on this)

- Closing Costs (you will pay closing costs on both purchase and sale of home) 

- Profit (minimum you would want to take on the risk. This is the most "flexible" of all the items)

There are plenty of resources here to help you on your journey!

[Jackson Sincerbeaux]

Quote from @Amber Stout:

Hi Tomas! I have a great agent that works mainly with flippers, as well as wholesaler contacts, and a hard money lender friend who shares weekly flip deals. If you have interest in any of those resources, send me a DM. 

 Hi Amber, if you're open to it - I'd love to work connect with you on this as well!

[Jackson Ebersole]

Hi Tomas, 

Would love to help you find the best guidelines and deal structuring. I can have my underwriter look at some prelim terms for your investments if that would interest you as well. I also pulled some data on your market so you can compare and get some ideas flowing.

Would love to connect!