Land flipping in Florida - looking for a RE attorney for some ?'s

Land flipping in Florida - looking for a RE attorney for some ?'s

Member since 2018 · 8 posts · 5 votes

Hi - 

I'm looking to get into land flipping, and I'm looking into Florida as a state to start in, partially because Florida allows closings to occur via a title company and a RE attorney isn't required at closing.

I'm looking to find a RE attorney in Florida who can help me navigate through some basic questions I have, and also eventually draw up contracts for purchasing land from motivated sellers I find, as well as contracts for when I go to sell the land to the eventual buyer. Of course I'd be willing to pay for the services rendered for said contracts. Any suggestions on where I should look to find an attorney?

Two example basic questions I have include:
- I'm looking to offer the option of seller financing to end buyers. Are there any state laws or restrictions I should be aware of for this that might cause me to reconsider right off the bat? 

- What options are available under state law that provides me with some amount of security, as the seller, once the deed is transferred to the end buyer upon signing of the contract, in the event that the buyer defaults on their payments?  I'd be looking to use a loan servicing company to handle payments and so forth.

Thanks for any help anyone can provide!

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  • Real Estate Agent · Fort Lauderdale, FL · Member since 2018 · 44 posts · 16 votes
    8y

    Where in Florida?

  • Member since 2018 · 8 posts · 5 votes
    8y

    I was thinking the Port Charlotte area, but I'm not restricting myself to any place just yet.

    Thanks!

  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    8y

    Not sure about which lending regulations Might apply to sf lot a buyer Could build their primary residence on. 

    As for defaults, you’d have a mtg and need to foreclose. Don’t know if you’d have any success offering land contracts. 

    There are a gazillion low value lots over in Lehigh Acres and further up the west coast. 

  • Member since 2018 · 8 posts · 5 votes
    8y

    Thanks for the feedback, Wayne. 


    I did find out recently that Florida is a judicial state, when it comes to foreclosures. It's not necessarily ideal for an out of state investor, but between the idea that most people are probably honest, and I'd be looking to recoup my original earnest money value via the original down payment - if someone defaults, it wouldn't be a total loss.

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