All Forum Posts by: Omar Gutierrez

i have plans at the city that are 2-3 weeks from approval. i'm a licensed GC and the house is going to be a 3/2 1100 sqft with comps in the 260's. for a construction id only need 100-110k, but the more i call banks the more im finding out that even 100-110k is "too small" of a loan. It just starting to feel like its impossible to get less than 100k in lending no matter how secure the deal is

does anyone know of a credit union, or private lender who does cash out refinance on lots of land?? or any kind of product that will help me tap into the equity of my lot. I currently own a lot of land in Miami florida and its worth around 50k. im looking to pull out 15-20k in equity but cant seem to find anyone that loans on land assets. let me know BP fam

Alexandra Reynolds I'm looking for whole sale deals for fix n flip in Miami. Got any in your listings?

sounds good. i'll PM you!Thomas Franklin, Jason Brown

@Marty True Where does one start looking? 

What we want is profits profits profits. anything with a large profit margin. We have the luxury of being able to keep rehab costs very very low (often times 50% of estimated) and we can add rooms bathrooms and square footage to homes. Ideally Ideally it would be a warzone property that other investors over look because they think its too much work. I'm willing to go as far north as Miami shores, and as far south as the keys. We're looking to spend less than half a million.

@Raffaello Cervera do you know of any brokers in particular that I should be contacting for REO's. i've heard great things about REO's but (from what i think i know) they work as auctions, and I don't know anyone who has access to the auctions.

@Account Closed the listings are very very verrrry fishy. We're actually now working with one of the realtors who is in charge of acquiring properties for our investor, but I'm starting to get the impression that he has too much work. New clients always welcome. estimates always free. Good luck finding that deal!

How are people finding deals in the south Florida markets?!

My name is omar, and this is my nightmare. I was born and raised in the Miami/South Florida area. I'm a general contractor, and owner of Fikon Construction. I work exclusively with investors (mostly foreign) remodeling and fixing their fix n flips. Just recently I was presented with the opportunity to work with a family member of mine to do a fix and flip... and so the journey began. 

after going through all the google pages searches for "wholesale miami" or "miami wholesale deals" I now get 5 to 7 emails a day where wholesalers list their "deals"... whats wrong with these people? 

the listings are basically 7 to 8 "deals" with 100k spreads that are waaaay too good to be true. They use sales comps that are sometimes 1.5-1.8x the sq ft of the house their trying to sell. just plain misleading, and makes me feel queasy about doing business with any of them. 

so i get down to the question. How does someone, with money, with tons of remodeling/rehabbing experience, the best construction company in south florida, find. deals?! how? is it possible? where are the wholesalers with legitimate sales comps? how does one get into bidding on foreclosures? 

look into Ygrene funding. its a government funded program with interest rates around 6-7%. payment goes into property taxes, and its paid once a year. feel free to reach out to me for remodels. good luck!

feel free to reach out to me. I'm an investor friendly GC in the south Florida area. 7862811828