All Forum Posts by: Emily Reynolds

I am reading that REO's in the Tampa Florida area are going for list price. How can this be accurate as that leave NO meat of the bone to rehab, sell & make a profit. ANY insight & advice for the Tampa Area would be much appreciated. I am trying to determine what % off list price is considered a good offer that the bank will consider.

Thank you Rocky. I appreciate that info. Wish you were in Florida so we could use you as a GC!

Amber we are using our own capital. I have found that most companies only fund 70-90% as well. You can always look into getting private investors. We are connecting with private investors now & looking into this as well.

That is a great option Michael. I appreciate the input!

Thank you guys. This makes MUCH more sense and confirmed what I was thinking. Thank you :)

Thank you very much James Masotti. I appreciate that insight. Would you happen to know what is the norm for when the Investor provides 100% and I were to just manage the project/flip? 

When using a Hard Money Lender I understand that there is a loan origination fee but what I am confused with is this: What are the monthly payments on a HML assuming that it is 15% interest on a $100K loan. What would the monthly payments be. The math would be $15K but I am finding it hard to believe that this is accurate. Thank you for clarification :)

We are looking for experienced, reliable, hard working & honest General & Sub Contractors in the Tampa Florida area to work on our house flips.

We have Investors from out of state that are funding our flip 100%; home purchase & rehab costs. We are managing the project 100% since they are out of state. What is the typical % of profit split in this type of scenario?

Lastly what would the typical % of profit split be in a 50/50 investor equity split on a flip?

I will be relocating to St Pete in 4 weeks in order to work on flips. Looking forward to connecting with other Investors in the area!