Help! Getting beat out by cash offers - Need advice!

[Trace J.]

I'm sure I'm not the only one who has been getting beat out by cash offers on SFH's that need rehab. I don't have a PML in my pocket and have been using hard money. Even with hard money it has been taking 30-45 days to close due appraisals. What has anyone done to overcome or be able to find PML's to fund the cash purchase? Needing tips and advice as I'm getting frustrated after several losing offers, even at full price. The market I am in is very hot which doesn't help for purchasing but does for selling in Florida. Basically you have to have cash, close quick and no contingencies. I do not have the 250-350k cash quite yet to do that. Help!

[Michael Plante]

Originally posted by @Trace J.:

@Michael Plante the area I have been working in has just exploded in the last year plus in SWFL. I am not finding anything below 100k anywhere near me or even within two hours (Tampa area) although I just started looking there. The ones I have found so far are around 165k-200k+ but I don't know the areas yet so I am still studying those. I don't want to make a mistake that will cost me my life savings so far if you know what I mean. As Taylor L said above I may just start doing JV deals if I can find the right partner. I appreciate the input.

 I know the area very well.  It’s within a stones throw of my farm area 

There are opportunities there exactly in the amount I said I look for above mobile homes 

I laid it out for you above basically how I do it.   Sorry but that is as much info as I am going to reveal 

I Will say I am on course to Net before taxes 1/2 mil this year flipping.   Just me working part time and one part time handyman