First time home flipper! Looking for some guidance

[Joe Mastracchio]

Hello everyone! My name is Joe. I live in beautiful/high end Jupiter, FL. I have been a landscape/hardscape designer/contractor for the past 6 years (only 29 y.o.). I am currently transitioning into real estate with getting my FL Real Estate license when things open back up. I have a pretty good amount of construction experience as I was in charge of running a 2000sq addition on our house bc the GC we hired never showed (whole nother story there lol). I have a team of subs I can use that we got friendly with.

I have always loved house flipping and real estate and am ready to make the plunge into that world. If anyone knows anything about the Palm Beach market, it’s very expensive but there are some deals out there to be had.

From anyone's experience, what is the best way to go about finding the money to finance the project and finding the right deal. I have used MLS and ran comps on certain houses but my big question is the financing. How much do you need to put down if any and what goes into that. Does anyone pull owner builder permits and need to get plans? Palm Beach is super strict to where if you change an outlet your technically supposed to pull a permit. I can do everything on the outside myself which is good, purchase my own material and I have a great tile, drywall, cabinet guy pretty much everything I need.

Would love to hear thoughts, stories and ideas from anyone! Thank you all BP people!

Joe

[Nicholas Smith]

@Joe Mastracchio Congrats on taking the plunge into real estate investing.  I can't really speak on owner builder permits as every area has different rules when it comes to that.  But regards to financing, hard money lenders are definitely an option.  And expect to put up 10% to 20% of the acquisition cost at minimum.  But you definitely need to call around.  You can also use private lenders.  It does take time to build those relationships with private individuals.  However, real estate is a contact sport and you have to network with as many people as possible.  You never know who has some capital that needs to be invested.  Wish you all the best!!