All Forum Posts by: Eduardo Ramirez

We have developed a system producing over 250 motivated seller leads who reach out to us for a cash offer in the Central Florida, Orlando area. These leads have already been prescreened and sorted through, they are just literally waiting on a cash offer. All leads come with multiple photos, detailed property info, seller comments on updates or repairs needed, and reason for selling (level of motivation).

My investment company in Orlando does not have the systems in place to handle more than 5-10 properties per month. We are looking to exchange/barter quality, prescreened off market leads for access to working capital to increase out acquisitions. 

We are trying to create a Win-Win situation with an investor who needs access to consistent flows of inventory that's completely off market (no mls leads).

We are open to terms and willing to pay interest on the extension of credit to our company on top of providing multiple leads per month. We can provide leads or assign existing contracts we have on hand to guarantee you have a real buying opportunity ready to be executed. These properties are being acquired on average at 75. on the dollar.

The average wholesale fee when buying through the investment community in Orlando is about $3,000. So that's about what you'd be saving per contract/lead by creating a deal with us. If you're buying several per month, it adds up.

Please reach out for more details... we're only looking for a few serious partners to structure this with.

Experienced wholesaler/investor looking to build a portfolio of rentals seeking 100% financing based on ARV (not contract price) on distressed properties sourced primarily off-market and some mls, in hot and active Central Florida & Orlando market. Willing to pay higher rates with plans to refinance into longer term conventional loans. Must be asset based. We have between 5 to 10 properties coming in weekly with excellent margins that we would like to "cherry pick" from to hold and get cash flowing. Rents in Central Florida & Orlando area are very attractive. Reliable rehab crews and property management company are already in place, but we need funding-- preferably private money at 100% of ARV. We are spending a lot of our cash reserves on aggressive marketing efforts to generate higher quality, off market deals, hence the request for 100% financing. Fantastic opportunity for an investor who wants exposure to a low risk market without having to deal with all the headaches. Also great for private money lenders who are seeking to minimize their risk by working with experienced individuals!

Please message to discuss the opportunity in more detail. Thank you!

Thanks for sharing! Valuable information for newer investors 👍🏼

Good for you on getting your real estate license. It will serve you tremendously and add credibility to your operation. So, the short answer is, yes-- you need a real estate license if you plan on wholesaling properties in Florida. You should also INTEND to close every property you get under contract and have funds ready to prove you had the means to close (your own cash or financing) even if you just wanted to assign the contract. You can't broker properties without a license, period. And that's essentially what you're doing as a wholesaler-- matching buyers to homes. You also can't assign contracts you never intended on making good on (funding). If FREC discovers you never had the means to fund your deals, you will have a legal issue on your hands. Those are the two basic arguments against wholesaling in Florida.

Loved the story! Very well written, detailed, and full of no-nonsense flipping tips. I'm inspired!

Who the Heck Am I:

I have over 10 years of real estate experience in the Central Florida area-- everything from shortsales to property management to flipping/wholesaling... I've done it. I bring a lot to the table in terms of investment analysis, expertise, contacts, local market knowledge, and optimistic/energetic/go-getter attitude (I'm "wheelin & dealin" 24/7, 365!). My company also co-hosts a real estate radio program every Monday on a major radio station in Orlando. The station sits right next to a mom & pop cuban coffee spot that's largely responsible for our success. I don't know where we would be without that damn coffee!! 

So What's the Opportunity:

Frustrated by the significant amount of good deals I am having to pass up due to lack of funding, I have finally decided to reach out for help. I am seeking an accredited investor ($1m minimum net worth not including personal residence) with access to liquid cash in the range of $500k-$1m interested in exploring cashflow strategies in the Central Florida area. The market is well positioned to take advantage of the demand for good rentals in the single family home space and I have access to plenty of inventory we could acquire to rent out (both off market and listed deals). 

These rental portfolios can be held for long term cashflow and equity, or they can be resold. We can also implement Lease/Option strategies into the mix, amongst many others. The opportunities are endless. I am very familiar with creative/advanced real estate techniques that could sky rocket our growth (ie., leveraging seller financing, syndicating real estate, leveraging crowdfunding opportunities, refinancing through portfolio loans, etc etc). 

Note: I am not looking for more hard or private money lenders ( I have access to plenty here in Orlando). My goal is to develop a LONG TERM relationship with a partner who would like to assume a more passive role (capital partner) in the investment process while we build these rental portfolios. I will put in the sweat equity and be the boots-on-the-ground guy leading a team of competent service providers to build impressive, well managed real estate rental portfolios. The power team is in place and ready to go. Are you in? 

Please feel free to direct message me for more details or call/text my cell 407-949-1732. My personal email is [email protected]. Check out my profile for a linkedin link to my experience and recommendations. 

I sincerely appreciate your time and consideration! BP rocks!

-Eduardo

P.S.- I have more opportunities available in South Florida and Puerto Rico, so there's plenty of room for growth and expansion for those looking to do something more serious down the line. Especially in Puerto Rico, where banks are unloading homes for $30k with ARV's north of $125k. But you gotta know the language and have contacts there on the ground-- I speak fluent spanish and have plenty of contacts there. After all, that's where I'm from and I fly there frequently. 

While your marketing kicks in and starts to generate leads, I would also consider collaborating with other wholesalers in town to see if you can help move their inventory. This will help build a buyers list you can send your own deals to once you have some of your own. You can also post general ads on social media that are not property specific, i.e. "Get a List of Local Bank Owned Properties!" or "Get a Free Report on Cashflow Properties," or something to that effect. You can create a landing page to collect emails and contact info while you work on getting inventory. Mentoring under someone so you can see all the theory being put into practice is very helpful, too. Like coordinating closings, setting up financing, and dealing with title issues, etc etc. Nothing beats being out on the street in the middle of all the action. It's tough sometimes to grasp the potential in this stuff when you're behind a computer all day :-/ Good luck!

I make sure all my buyers bring at least 25% to the table. Ive heard of 100% financing but haven't looked into it. Not sure how that would work on rentals since it would probably eat up any positive cashflow you generate. Thanks for all the feedback, guys. I'll continue to look for folks offering 8%-10%. Just a matter of finding them, like Irving said :-)

Some are, fees are still too high though, even at 12% (lowest I could find), the pts and junk fees are not feasible. 8%-10% would be ideal. Appreciate the feedback, John! Will continue to talk to other lenders. 

Hello BP friends! I've been involved in the Central Florida real estate market for almost 10 years now with a heavy focus on sourcing and selling wholesale properties, amongst other exit strategies. Recently I've had a significant amount of interest from investors interested in acquiring rental properties and I'm looking for a partner to help me fund deals (more about this in a sec). I think a lot of folks are noticing the economic environment is changing and they're looking to get out of traditional investments that are no longer performing (stocks, mutual funds, etc) and are exploring other alternatives, such as cashflow strategies in residential real estate.

I have exclusive access to wholesale inventory these investors wouldn't otherwise know about, so the opportunity in structuring and lending on these deals lies in two parts: 1) Providing transactional funding on the wholesale inventory, and/or 2) Providing short term fix/rehab funding to get the inventory rent ready. Then we would refinance these loans into a 30 year rental loan program I am an approved broker for (more about this later).

So... why not just reach out to local lenders currently providing these investment loans? 

I have. 

The interest rates plus origination points plus junk fees are astronomical and scare off my clients. It's also very challenging to justify the investment when you're dealing with high loan costs. 

There's gotta be a better way.

Ideally, I would like to work with local investors looking to get involved in the real estate market via a more passive role who wouldn't mind making a good rate of return on their capital while helping buyers obtain loans at reasonable rates.

I'm shooting to create a Win-Win situation for everyone while stimulating the local economy and helping the Florida investment community. I am NOT trying to make a living off of loan fees! The objective is to provide lending in a way that's responsible and makes sense for the buyer looking to rent property. If we can offer reasonable rates, these people would become repeat buyers and will inevitably refer more buyers.

The 30 year rental program we would be refinancing these private money loans into starts at 6.5%, 75% Loan to Value for 30 years (minimum credit of 630), and is available for portfolios, too (purchase and refi).

But we need to get these buyers a loan to acquire/rehab the properties with first... that's where we come in.

I have access to the inventory. Plenty of it. I can run the numbers and perform the analysis and assist with the remodeling process. We also have a few good property management companies we work with. 

But... we need help funding these transactions.

If this is of any interest to you, please feel free to comment below or reach out to me personally. 

I sincerely appreciate your time...