All Forum Posts by: Neil Anthony Giscombe

Looking for wholesale deals in the Hampton Roads area of Virginia 

Experienced investor looking to partner with a gap lender, willing to lend 20-40% of purchase and rehad expense, on multiple fix and flips in Virginia Beach Virginia area.

I am a 30 year real estate agent that is looking to go full time with fix and flip in the Virginia Beach, Virginia area of Virginia. Over the years I have personally fixed and flipped homes, owned rental property and built home from the ground up, from 1500 sqft-6000sqft. I have also helped investors do the same. I currently primarily help investors find fix and flips. I also currently own a kitchen and bathroom remodeling business that I’ve operated for over 20 years.

Currently I'm at a stage where I would like to personally dive deeper into fix and flips and new construction, but on a larger scale than I've done over the years. I'm currently looking for a very specific partner that is willing to hold a 2nd lien position and who's responsibilities will include providing the down payment and funding fees requirements, between 10-40% ARV, of a 1st lien position private lender.

I in turn will:

1. As the real estate agent, I would find the right deal with market research between off market and listed properties 

2. Present the best deals available to my partner with the ARV and CMA values and profit potential.

3. We both agree on which property works for portfolio and close on the purchase.

4. I line up the repairs and contractors from start to project completion from my library of vetted contractors that I've been working with in some cases for 2 decades.

5. My partner pays the down payment and monthly interest payment directly to the 1st lien lender. 

6. We complete the renovation or construction and list the property for sale.

7. Sell the property on completion and split the profits on completion as agreed.

I am looking for a partner willing to start off with 1 deal at a time for a couple of deals, but is will to go to multiple deals monthly, if our working relationship is working well for both of us.

The projects would all be in the Hampton Roads area of Virginia, which is a fantastic area for home flipping and starter homes. This is a very transient community primarily supported by the active duty military, primarily stationed locally on 2-4 year DOD contracts, and supporting services. This community has the largest population of active duty military across the United States.

I am only looking for serious partners that are capable of funding these deals consistently, but with my years of experience and resources we can do extremely well with this partnership. Again, only looking to communicate with serious partners that can support the multiple monthly financing needs of this partnership.

Not looking for a hard money lenders. Very familiar with the hard money lending process.

Thank you Robert Ellis, appreciate the feedback.

Yes, they are big goals, but very attainable. 

Experienced investor looking to partner with lender on multiple fix and flips in Virginia Beach Virginia

I am a 30 year real estate agent that is looking to go full time with fix and flip in the Virginia Beach, Virginia area of Virginia. Over the years I have personally fixed and flipped homes, owned rental property and built home from the ground up, from 1500 sqft-6000sqft. I have also helped investors do the same. I currently primarily help investors find fix and flips. I also currently own a kitchen and bathroom remodeling business that I’ve operated for over 20 years.

Currently I’m at a stage where I would like to personally dive deeper into fix and flips and new construction, but on a larger scale than I’ve done over the years. I’m looking for a very specific partner that has the responsibility of 100% funding the purchase and rehad, even new construction projects. I in turn will:

1. As the real estate agent, I would find the right deal with market research

2. Present the best deals available to my partner with the ARV and profit potential.

3. We both agree on which property works for portfolio and close on the purchase.

4. I line up the repairs and contractors from start to project completion

5. My partner pays the contractor/suppliers directly , based on project schedule and budget, with lien waivers supported documentation.

6. We complete the renovation or construction and list the property for sale.

7. Sell the property on completion and split the profits on completion as agreed.

I am looking to partner with someone that is willing to completely finance at least 1 project per month and will to finance more monthly projects if our working relationship is working well for both of us.

The projects would all be in the Hampton Roads area of Virginia, which is a fantastic area for home flipping and starter homes. This is a very transient community primarily supported by the active duty military and supporting services. This community has the largest population of active duty military across the United States.

I am only looking for serious partners that are capable of funding these deals consistently and understand that not every deal is going to go perfectly, but with my years of experience and resources we can do extremely well with this partnership. Again, only looking to communicate with serious partners that can support the multiple monthly financing needs of this partnership.

I received an offer for 100% purchase and 100% rehad on a fix and flip from Blue Pacific Home Loans. I Google there name but not much came up, so not sure if some one has used them in the past.

These are just layoff announcements over the past month, and there are several more. The average consumer is some what aware of these layoff trends, inflation, higher interest rates, and higher home prices. We can hope for lower interest rates to alleviate some of the consumers concerns, but fear is real and creates welded pockets. Businesses are not wrong to layoff workers, but it is a double edged sword. On one side the companies appears stronger, due to labor cost cutting, so equity investors appreciate the companies improvement on the quarterly reports, which supports investors desiring to invest more in other business, which improves the economy. But on the other edge of that sword, the consumer is terrified of there own job security, and tend to tighten their own purse straps. Go figure!

It's not looking good for rate cuts.

With such low inventory, Investors are hungry for properties and this ain't looking up, unless the rates come DOWN!

It's not looking good for rate cuts.

With such low inventory, Investors are hungry for properties and this ain't looking up, unless the rates come DOWN!