All Forum Posts by: Devon Garbus

Single Family or large lots in Tampa area send to me

Hi,

Where did you get these (i.e. what is your 'control' of the situation), and what suburbs of Tampa are your tampa area ones?

Thanks.

How do I edit the post? I made an obvious error. 100-32=68.

This land is currently vacant and located in the blooming Port of Tampa area.

Seller wants to get 100k out of each lot and is willing to take joint venture terms to get it.

This is a great opportunity for a cash shy GC to get into spec building. You'd only need to make payments on your construction loan.

Pro Forma:

Sale Price: $400,000

Construction Cost: $190,000 (2500 sq ft at $75/ft).

Land: $100,000

Closing Costs: 32,000

Profit (before holding costs) $78,000

Hi JoshMessage sent

What states do you lend in?

Hello BP!

For those of you who don't read the general marketplace I have some great TH projects in one of the hottest markets of Tampa Bay.

These projects are all OFF MARKET. They range from 3 units up to 12 and I have several that will be ready over the course of the next 9 months. 

One 12 unit project in the luxurious Hyde Park area will be ready in 45 days!

My company is handling rezoning, you will not close until property has finished (hence the timeframe above).

We will consider JV terms can be considered from any RE investment group or local builder.

Small world- I went to SCAD. Didn't realize anyone else knew of it.

Good luck.

Thank you for talking to me about this today @Armando Payano

Hi BP!

My clients are having trouble securing Spec construction funding, and the ones that have received it want more...

I'd love to speak with investment groups or banks with good construction funding (and possibly some references/success stories) in Tampa.
Many of you have probably seen the projects I post for sale under Marketplace, I'd love to have a 'funding' advertisement to take to the builders I speak with. If you can reliably fund those types of projects I can get you builders who will take that loan.
Currently we are getting the run around and empty promises from relatively unknown companies, and we'd prefer to take JV or construction interest rates rather than hard money.

Cash access lines would be a plus, but normal funding on draws during construction is great.