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Updated almost 8 years ago,
Looking for experienced rehabber in Broward!
Greetings to the South Florida real estate community! I look forward to working with you all.
At the moment, I am looking to team up with one other investor (or private lender) for my next rehab, and I'll tell you why.
After months and months of research, I have finally reached the jump-off-the-cliff point, and am ready to dive in.
-My GC is an incredibly professional and reputable investor-friendly contractor who has 17 years of experience working locally on rehabs.
-My REA, who is also investor-friendly and very knowledgeable about the processes, has around 16 years of local experience. She owns a brokerage here in Fort Lauderdale, alongside the president of the Fort Lauderdale Board of Realtors.
-Proof of funds letter has been obtained for a 150K HELOC, based on a purchase price of 125-150K at 80% LTV.
-50K in liquid assets
The funding program I plan on using does not take into consideration rehab costs. This means that if I find a property with great potential for $100,000 and I put up $20,000, I have $30,000 of my own funds left. Taking into consideration closing costs, holding costs, repair costs, etc. I think that is really cutting it close.
I am looking for someone that is excited and passionate about helping newcomers... That is, the ones that have done their research, crossed their t's, dotted their i's, and have a great team behind them. If you are open to extra profit and are interested in partnering up on a deal and having me do the dirty work, let's link up! My plan is with a little bit of financial help, to split profits generously with my partner until I am able to take on a project with strictly my own funding.
Also, just to specify... Not looking for a mentor that needs to educate bit by bit... I have done extensive research over the past several months in regards to housing components (sewer systems, plumbing, siding, HVAC, electrical, roofing... what is necessary and what isn't, at what year does it need replacing, hardwood vs. engineered wood flooring, circuitry, drain lines etc. etc.), how to property analyze a market within your farm area, what to look at when running comps, how to properly schedule a SOW so it stays on track (or as "on track" as reality will allow! ;) ), different methods of finding as well as placing offers for REO properties, closing/title transfer procedures etc. etc. I also greatly understand that I have much more to learn, and am ready for it!