All Forum Posts by: Alci Martinez

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $232,500
Cash invested: $45,000

Newly renovated SFR in Shore Acres, St. Petersburg, FL

What made you interested in investing in this type of deal?

The area is very desirable, great schools, restaurants, shops and major airports close by. 12 mins from downtown St. Pete and beaches.

How did you find this deal and how did you negotiate it?

I found it through my realtor. We came in all cash and waved all inspections and contingencies. Title cleared and we were closed in 8 days.

How did you finance this deal?

I used a private lender, BackFlip. They are great and very easy to work with.

How did you add value to the deal?

Complete renovation. New kitchen, bathroom, counter tops and appliances throughout the home, including new HVAC.

What was the outcome?

Great! ARV is $386,000.00

Lessons learned? Challenges?

Act quick, these type of deals are always available but to the ppl that are willing to act fast.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Mustafa Lakadawala from Clarke Realty (local to St. Pete), BackFlip (private lender) and Capital Construction (FL licensed GC)

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $232,500
Cash invested: $45,000

Beautiful fully renovated Shore Acres 2/1.
This house really stands out on the block with the new bright paint scheme! Gotta love the yellow doors!
Large driveway with covered carport. Plenty of space for several cars.
Easy access to the Shore Acres recreation center and the new middle school.
A short drive to the new Whole Foods and the 4th Street corridor.
Spacious open great room plan with all the bells and whistles!
The first thing you notice is the amount of natural light!
All of the doors and windows are new.
All new distressed grey luxury vinyl throughout with freshly painted walls and new baseboards.
Amazing updated kitchen with large island with storage. Tons of upper and lower new oak cabinets and counter space with custom granite counter tops.
New full size high end stainless appliances that include a mounted microwave and dishwasher as well as new fixtures. The designer slick grey backsplash really ties the kitchen together nicely.
Full size new LG top loader washer and LG dryer.
The floor plan is split with the full size bath in the middle of the 2 bedrooms which adds to privacy.
The spacious bedrooms are off the back of the house with views of the backyard.
The custom bath is amazing with huge over sized vanity with lots of storage.
Large stand up shower with designer tile and built in seat. All high end fixtures as well.
There are 2 covered paved areas out back to enjoy the cooler summer nights.
Fully fenced in yard with access on both sides.
This property also has a brand new AC system.
Available for an immediate move in.

What made you interested in investing in this type of deal?

The area is very desirable, great schools, restaurants, shops and major airports close by. 12 mins from downtown St. Pete and beaches.

How did you find this deal and how did you negotiate it?

I found it through my realtor. We came in all cash and waved all inspections and contingencies. Title cleared and we were closed in 8 days.

How did you finance this deal?

I used a private lender, BackFlip. They are great and very easy to work with.

How did you add value to the deal?

Complete renovation. New kitchen, bathroom, counter tops and appliances throughout the home, including new HVAC.

What was the outcome?

Great! ARV is $386,000.00

Lessons learned? Challenges?

Act quick, these type of deals are always available but to the ppl that are willing to act fast.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Mustafa Lakadawala from Clarke Realty (local to St. Pete), BackFlip (private lender) and Capital Construction (FL licensed GC)

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $225,000
Cash invested: $55,000

Fix & Flip in the beautiful St. Petersburg, FL. The current layout is a 2/1, to be converted to a 2/2.
Purchase Price: $225k
Renovations: $55k
ARV: $345k

Investment Info:

Single-family residence other investment in San Diego.

Purchase price: $65,000
Cash invested: $235,000

Construction of a single family residence (SFR).

What made you interested in investing in this type of deal?

My interest in investing in the construction of a new single-family residence (SFR) on the West Coast of Florida was driven by a combination of factors. The area's stunning natural beauty and thriving real estate market present a unique opportunity for growth and development. I have always been passionate about creating quality homes that enhance communities and provide families with exceptional living spaces. This project allows me to bring that vision to life, combining innovative design with

How did you find this deal and how did you negotiate it?

This particular property belonged to an investor who didn't want to finish the project. I was able to negotiate a package that included the land, some of the materials, and the permits to build it.

How did you finance this deal?

For the acquisition I used my own funds, and for the rest I was able to secure a construction loan with the folks at BackFlip.

How did you add value to the deal?

Mostly by securing the financing and managing the project, I was able to meet all of my deadlines.

What was the outcome?

I have multiple offers.

Lessons learned? Challenges?

Be sure to thoroughly vet your general contractor. I had to switch GCs mid-construction due to differences in work ethic. Navigating the county's bureaucracy and timing the expiration of the construction permit were crucial. Successfully transitioning to a new construction company that took over a project already underway was a challenge I managed to overcome.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with Sandra Aguilar, I local RE agent.

Investment Info:

Single-family residence other investment in San Diego.

Purchase price: $65,000
Cash invested: $235,000

We are thrilled to announce that we have secured a construction loan from BackFlip to complete our project: the construction of a single-family residence (SFR) on the beautiful West Coast of Florida! 🏡🌴.

This achievement wouldn't have been possible without the incredible support and partnership of Capital Construction and BackFlip. A huge thank you to both teams for their dedication and hard work in making this project a reality.

We are excited to see this project come to life and contribute to the growth and development of the community. Stay tuned for more updates!

What made you interested in investing in this type of deal?

My interest in investing in the construction of a new single-family residence (SFR) on the West Coast of Florida was driven by a combination of factors. The area's stunning natural beauty and thriving real estate market present a unique opportunity for growth and development. I have always been passionate about creating quality homes that enhance communities and provide families with exceptional living spaces. This project allows me to bring that vision to life, combining innovative design with

How did you find this deal and how did you negotiate it?

This particular property belonged to an investor who didn't want to finish the project. I was able to negotiate a package that included the land, some of the materials, and the permits to build it.

How did you finance this deal?

For the acquisition I used my own funds, and for the rest I was able to secure a construction loan with the folks at BackFlip.

How did you add value to the deal?

Mostly by securing the financing and managing the project, I was able to meet all of my deadlines.

What was the outcome?

I have multiple offers.

Lessons learned? Challenges?

Be sure to thoroughly vet your general contractor. I had to switch GCs mid-construction due to differences in work ethic. Navigating the county's bureaucracy and timing the expiration of the construction permit were crucial. Successfully transitioning to a new construction company that took over a project already underway was a challenge I managed to overcome.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with Sandra Aguilar, I local RE agent.

Hello Liam, 

Thank you for posting this! where can I get the same info for St. Petersburg, FL? 

Investment Info:

Single-family residence fix & flip investment in Lehigh Acres.

Cash invested: $265,000

Closed! Lot & Land in Lehigh Acres, FL. Size 0.285 acres, convenient location on a corner lot. Close to mayor highways and airport. Vacant residential, SFR 3/2 with a Den, approximately 1,625 sqft coming in 2023!

What made you interested in investing in this type of deal?

Looking to diversify my portfolio.

How did you find this deal and how did you negotiate it?

Found the land off market. Went straight to the broker and made an offer.

How did you finance this deal?

Line of credit.

How did you add value to the deal?

My experience with project management.

What was the outcome?

Home was finished in June 2023. I closed on the sale on December 2023

Lessons learned? Challenges?

Performing due diligence in this type of project, particularly for an out-of-town investor, is crucial. Managing dealings with a new county and permit office can present challenges. My advice for approaching this project is to meticulously oversee your budget and ensure strict adherence to deadlines.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Sandra Aguilar form EXP Realty

@chris 

@Chris Seveney Thanks for your reply. I am first lien. 

Mohammed, thanks for your reply. Yes this is my next step, I've already reached out to a couple of banks. 

Hello everyone, I was contacted by Deed street Capital since I’m doing sellers financing in one of my properties. They offered me to buy my note at $0.82 on the dollar. Has anyone worked with this company before? What do you think?