All Forum Posts by: Annie Seurer

Hi Annie,

Not just the Ft. Lauderdale area, but all three tri-counties. I'm sorry, but I'm not too familiar with the Treasure Coast.  Let's chat when you have a few minutes.

Hello Everyone,

I have a few questions for all the fix/flip investors.  I did 2 fix flips last year.  One, I made a profit; other one, I kinda even out.  I learned a lot from both projects and hope to learn more.  I wanted to know what are your thoughts on the 70% rule.  Do you guys still apply that rule?  For all the deals here in South Florida, I'm not able to do 70%, and it seems like the profit margin is really small.  What dollar amount or percentage do you guys usually look for in fix/flip properties? 

My 70 % rule...

ARVx70% - rehab cost = purchase price.  

2nd question.... I know with a hard money lender, you lost good amount of profit.  Do you guys use hard money lender for a rehab or use your own cash?  

 It will ,,   We are aiming for the 24th of OCT

@Annie Seurer Just added you. We are meeting on the 15th this month at Ross Felty in Jupiter from 8-10am.  I will be speaking at about 9am about the last 2 deals, 16 units total, that I closed the past few months.  Going over all aspects of finding, funding, operating and future plans for the property.

Your upgrades look very attractive.

For rental though, I would have not spent a nickel changing either of those kitchens.

White cabinets are going to show a lot more grime at turn time then the brown ones will.

I would simply have left a welcome kit for each renter that included some shelf paper, toilet paper, and a new milky white shower curtain, plus a small bag of Purina if they have a pet.

The shower curtain because sometimes renters don't have one when they move in and they want to take a shower after moving their stuff in and flood the floor until they get a shower curtain. A couple of dollars at the dollar store for a cheapy milky white curtain prevents this.

Back to the kitchens, I especially like the  (before) galley kitchen with the tile floor, and if there was a door opening at both ends at ADA specified widths that would be a nice feature too.

Good Luck!