All Forum Posts by: Darren Lenick

Thanks for the reply Nghi. Happy to see I’m not the only one to leave IT for full time flipping.

With that, I’ll sit tight until first house is sold then decide if I want to use proceeds from that or borrow to renovate the other one. I’m leaning towards borrowing so I can leverage my money and do more than one property at a time.

Take care.

I'm trying to determine how lenders will consider my experience when applying for private lending or hard money.  

Here is a bit of my history:

- I spent 28 years in the IT field but retired from that industry in March 2016 to begin a fix and flip business full time.  I've always been a weekend warrior renovator and was hands on for all 3 of my primary residences renovations.

- I have renovated 3 of my primary residences over the years each time making a significant profit, most recently last summer when I sold my Toronto are home and moved permanently to South Florida.  I had been living 60% of the time in Orlando in 2016/2017 while doing project management work for my family who fix and flip properties there but they live Internationally.

- In 2016/2017 I performed as the project manager and property manager for several properties being flipped by family members who live Internationally.  I was responsible for all budgets, contractors, design plans, property management and holding costs through the final sale. I did not have an equity stake in the properties but agreed to a fee for each.  I completed 7 homes during that time and every one of them sold for profit.

- I also own 2 of my own properties for fix and flip.  One I purchased in September 2016 and have been working on it slowly since, having several delays due to PM work for family, hurricane Irma and some personal health issues.  I own a second property I bought in December 2017 that I'm considering getting finance for to complete.  Both properties are free and clear as I bought with all cash.

My issues is, one of the questions asked is how many properties have you completed.  Do you feel it is OK for me to state I have completed 9 properties and working on 2 more even though I didn't have an equity stake in all of them?  If you're a lender, how would you consider my experience?

Thanks in advance for your input!

Darren

Hi Brian, I’ve used all the sites you’ve stated as well but also found the county Sheriff department helpful as well since many post crime statistics by area. Hope you find the info you’re looking for. Darren

Hi Ruben and welcome! I moved to WPB a year ago and love it here. I retired from IT after 28 years and went full time into fix & flip starting in Orlando back in 2016. The market got too competitive up there so I moved to West Palm Beach in August 2017 and am very happy.

Thanks John. Looking forward to completing many projects.

Thank you. 

Hi,

I'm new to investing in Central Florida but not new to the industry. I purchased my first Florida property in Apopka and I'm looking for quality contractors in the area.

Anyone have any referrals for GC, electrical, plumbing, framer and roofing?

Thanks!