All Forum Posts by: Foster Algier

We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

VISIT OUR WEBSITE and click on WHOLESALE PROPERTIES to see ALL of our properties. Join our email list to receive our daily property list! REALTORS PLEASE DO NOT CALL TO LIST THIS PROPERTY. THANK YOU!

N Richard Terrace, Inverness, FL 34453

INVESTMENT: $45,000

ARV: $90,000-95,000 +/-

Rehab: Medium

3 Bedroom 2 Bath with Pool

1,510 SqFt

Built: 1973

Construction: Block

HOA: $0

This is a promising 3 bedroom 2 bathroom home. Garage could be enclosed into possible 4th bedroom/office space. Screened swimming pool. Needs a medium level of fix up, but this property is priced to sell. Owner/agent. Large lot 160'x120' . Owner is willing to consider seller financing with 30% down and 8% interest, but cash talks. Let's make a deal!

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services

Starting out, too many people get stuck and quit when they hit a bump in the road that books and webinars just can't help them through. When learning a new investment strategy, you have 2 options:

1 - Go it alone, make mistakes, and learn from them.

2 - Get a coach or mentor and learn from THEIR mistakes.

The time, money, and resources saved in the long run from learning to do things right from the start is well worth the up-front investment of a coach who will hold your hand and guide you through your first few deals!

Find a coach who is experienced in your local area, with a good reputation, who is willing to be available via phone and/or email to you to answer your questions and guide you every step of the way, and you won't be sorry!

If you're in Florida, check out my apprenticeship program for wholesaling!

I've already received 2 applications from new students and have space for 10 more. Please call or email today and sign up! I'm taking students from across the whole state of Florida, and students are able to choose to participate online, in-person, or both!

Renting out property can always be a gamble, with the risk of a bad tenant who could, for example, smash a hole in the wall or bail on paying rent. In either case, the landlord is left financially liable.

But could landlord insurance help investors better protect their property investments?

“Landlord insurance is a vital add-on for anyone planning to rent some or all of a property to another party,” says James J. Whittle, assistant general counsel and chief claims counsel for the American Insurance Association.

Landlord insurance coverage varies based on location; but, in general, it will protect the house, apartment or condo being rented out against “covered perils.” Those “covered perils” usually consists of severe weather, natural disasters and vandalism. It also might cover the owner if someone is injured at the property, like if the tenant trips on the entry stairs and then tries to sue the landlord.

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We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

VISIT OUR WEBSITE and click on WHOLESALE PROPERTIES to see ALL of our properties. Join our email list to receive our daily property list! REALTORS PLEASE DO NOT CALL TO LIST THIS PROPERTY. THANK YOU!

Jewell Street, Lake Wales, FL 33802

INVESTMENT: $46,500

ARV: $55,000-60,000 +/-

Rents: $600-650/month +/-

Rental Rehab: $1,000 +/-

2 Bedroom 1 Bath

840 Sq Ft

Built: 1961

Construction: Block

HOA: $0

Come see this clean and tenant ready block home in Lake Wales. As a nice cash flow opportunity, this home is basically rent ready, needing just very minor clean up and light yard sprucing. The kitchen and bath are in good shape. This home has tile floors through out home and newer windows. Central a/c appears to be in good shape and the electrical and plumbing are up to date. The roof is a bit older, but no leaks are apparent, and it still has a few years left. The outside of the home just needs a bit of yard cleaning. This is on a nice quiet, clean street, very close to schools, shopping, and major roads. Downtown Lake Wales is only 5 min away. It is also very close to Bok Tower Gardens and Hwy 27.

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services

The survival of one of the nation's largest non-bank mortgage servicing companies was thrown into question Thursday as the company was hit with federal and state lawsuits for allegedly failing borrowers with mistakes, shortcuts and other problems that cost some people their homes.

Ocwen Financial Corporation allegedly botched basic functions such as sending accurate monthly mortgage statements, properly crediting borrowers' payments and handling taxes and insurance, according to a lawsuit filed in a Florida federal court by the Consumer Financial Protection Bureau.

The CFPB also accused the company, based in West Palm Beach of improperly foreclosing on struggling borrowers, ignoring complaints and selling servicing rights to mortgage loans without fully disclosing mistakes the company and its subsidiaries made in borrowers' records.

Read full article here...

We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

VISIT OUR WEBSITE and click on WHOLESALE PROPERTIES to see ALL of our properties. Join our email list to receive our daily property list! REALTORS PLEASE DO NOT CALL TO LIST THIS PROPERTY. THANK YOU!

Stella Avenue, Lakeland, FL 33805

INVESTMENT: $69,900

ARV: $150,000-160,000 +/-

Rental Income: $1,900 +/- month

ARV Rehab: $15,000-40,000 +/-

4 Bedroom 4 Bath

2,236 SqFt

Built: 1951

Construction: Shingle

HOA: $0

This is one of those super rare opportunities that work whether you are looking to flip or cash flow the home. You have 2 homes on a quarter acre corner lot. The main home is set up as a 3/2 on one side and a 1/1 on the other side. Both parts of the home have their own porch and separate entrances. The second building is a large 1/1.

Both homes are pretty dated and, depending on if you are looking to flip or cash flow, will need some degree of work. To cash flow, you really just need a few cosmetic updates to rent. The area does not require top notch amenities in order to get market rent. It appears as if you can get 800/mo for the 3/2 and at least 500/mo for each of the 1/1's, if not more. That will put you near the 20% ROI range. Not easy to find those these days.

To flip, you will need to add a/c in parts of the property. You can probably get away with a mitsubishi portable unit in the guest home. Again, you do not need to go overboard with your rehab to get a reasonable return. If you listed the home for 160k, you would be towards the lowest pp/sf that has sold within a half mile still. The neighborhood adjoining is where the majority of the comps are but your best comps is directly behind this home on N Lake. It sold for 133k, was rehabbed, and was nearly 1,000 sf smaller. Either way you look at this one, it is an opportunity not to be missed.

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services

This is my personal favorite. The great thing about wholesaling real estate is that you don't take ownership of that property. Once you have the property under contract, you assign the contract to another buyer who will close on the property in your place. There is no risk, and you can do it with little or no money down!

Some investors call it "wholesaling real estate." Others refer to it as "flipping houses." Regardless of the term you use, the bottom line is the same: You can make big bucks from property you don't own! Let's look at how easy wholesaling real estate is:

Continue reading here...

We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

VISIT OUR WEBSITE and click on WHOLESALE PROPERTIES to see ALL of our properties. Join our email list to receive our daily property list! REALTORS PLEASE DO NOT CALL TO LIST THIS PROPERTY. THANK YOU!

Providence Blvd., Deltona, FL 32725

INVESTMENT: $97,000

ARV: $165,000 +/-

Rental Income: $1,000-1,295 +/- month

ARV Rehab: $25,000-35,000 +/-

3 Bedroom 1 Bath (4 bed/2 bath finished rehab)

1,596 SqFt

Built: 1970

Construction: Block

HOA: $0

Good opportunity for a lakefront flip in a very hot market. Homes in Deltona under $100K are getting harder and harder to find. The square footage on record does not include the addition of almost 500 SqFt from enclosing the carport and back porch. The records show a 3/1 with 1,104 SqFt but it is actually a 4/1 with 1,596 SqFt of living area under central air. The master bedroom and 2nd bath were started but not completed. Finish this addition to make this a 4/2 and this one could be a home run. It already has a new roof over the the entire 1,596 SqFt and is located in front of Twin Oak Lake, providing peaceful views from the living area. Also includes a large utility shed for extra storage.

The home is conveniently located near I-4 for easy access to shopping, restaurants, theme parks and beaches. Whether you rent it or flip it, the addition needs to be completed. You can choose not to add the second bathroom to save money and rent it as a 4/1 but to get the most out of a flip the 2nd bathroom is strongly suggested. There are plenty of comps showing over $100/SqFt so $160-170K is not out of the question with a nice rehab. There have been several rehabs completed in the area (with no garage) that were done nicely and sold for top dollar. All comps shown are within a 1 mile radius, most are within 1/2 mile.

Needs: Kitchen and bathroom updates for a flip, addition of 2nd bath, flooring throughout, repair the wood on exterior of the addition, ceiling repair, interior/exterior paint, appliances, landscaping.

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services

We all want to make money in real estate - that's the reason we're here after all!

Starting out, too many people get stuck and quit when they hit a bump in the road that books and webinars just can't help them through. When learning a new investment strategy, you have 2 options:

1 - Go it alone, make mistakes, and learn from them.

2 - Get a coach or mentor and learn from THEIR mistakes.

The time, money, and resources saved in the long run from learning to do things right from the start is well worth the up-front investment of a coach who will hold your hand and guide you through your first few deals!

Find a coach who is experienced in your local area, with a good reputation, who is willing to be available via phone and/or email to you to answer your questions and guide you every step of the way, and you won't be sorry!

If you're in Florida, check out my apprenticeship program for wholesaling!