$98,997.21 "Pre-hab Flip" in Miami,Fl in 38 days

$98,997.21 "Pre-hab Flip" in Miami,Fl in 38 days

Miami, FL · Member since 2015 · 48 posts · 16 votes

Purchased a property in Miami Fl, cleaned it out and got it ready for a rehabber to purchase. Purchase Price 87k, fix up 4k (clean out and put tarp on and repair stairs for safety)- then put on the MLS for 179k. Got over 100 calls and 39 showing with over 18 offers, the highest offer is currently at 195k all cash and close in 1 week. We will have the final highest and best on friday 2.27.2016!

100k Profit on a Wholesale "Prehab" Deal- Prehab is where you purchase the property and clean and out and get it ready for a professional rehabber to come in and purchase and rennovate the property.

The deals are out there.  We got this one by doing direct mail.  You just need to do more direct and move fast when you get something.

We just doubled down on the direct mail for the month of March and I will keep the BP team on the loop.  So far this has been a great deal and my team and I are super stoked about it.

Lastly, I am here to help anyone I can in any way.  I am looking for a way to contribute back, I don't need this for the money, thank god this business has given me and my family the opportunity to be financially free and a Multi-Millionaire.

Wow, thats the first time I write that in Public..

Thats the house below.  Keep Persevering and Keep hustling.

Hoping this and I may serve as an inspiration for you!

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  • Glen Cove, NY · Member since 2015 · 110 posts · 18 votes
    10y

    Wow.... incredibly well done

  • Residential Real Estate Agent · Miami, FL · Member since 2013 · 195 posts · 138 votes
    10y
    Originally posted by @Ramon Gonzalez:

    Purchased a property in Miami Fl, cleaned it out and got it ready for a rehabber to purchase. Purchase Price 87k, fix up 4k (clean out and put tarp on and repair stairs for safety)- then put on the MLS for 179k.

    Nice work, congrats.

    I see a quick property search reveals it as a 2/1 yet it is listed everywhere as a 4/4.  Are you taking any steps to legalize it?  Or was the work done with permits and proper documentation?  Just curious because I run into this type of stuff all the time.

    87k was quite the buy.  Hell, the land value has to be about that, if not a bit more.  Congrats again. 

  • Miami, FL · Member since 2015 · 99 posts · 32 votes
    10y

    Congrats man! Happy for you.

  • Miami Beach, FL · Member since 2015 · 12 posts · 7 votes
    10y

    Congrats @Ramon GonzalezThis is definitely inspiring. 

    Curious to know, what was the seller's situation? 

  • Property Manager · Livonia, MI · Member since 2011 · 4k+ posts · 1k+ votes
    10y

    200k with bars on the windows? wow

    i see 4k in just exterior work. post some pics of the "after" to see what you did.

  • Hollywood, FL · Member since 2016 · 31 posts · 9 votes
    10y

    Great job Ramon. Im currently doing my direct mailing campaign. Im just waiting on the calls to come in. Im excited

  • Durham, NC · Member since 2016 · 8 posts · 1 vote
    10y

    What site did you use for direct mailing

  • Miami, FL · Member since 2015 · 48 posts · 16 votes
    10y

    @Karina S.Situation- seller rented house to family and they trashed it

    @George P.Location my man. when I say work we just did a few dump runs and repaired the stais- it still needs a full rehab- just presentable.

    @James CharlesExcited for you, be aggressive, let me know how I can help 

  • Miami, FL · Member since 2015 · 48 posts · 16 votes
    10y
  • Miami, FL · Member since 2015 · 48 posts · 16 votes
    10y

    @Robert G.It is legal- zoning is T3L it is updated in the city of Miami NOT in Miami Dade Public Records.  We have contacted the county on this to get them to update it and sent them the info that city of Miami Has.  We got lucky and we worked hard as well.  The harder we work, the luckier we get. Just blessed buddy.  Happy Wife, Brand new newborn, no sleep, but happy!

  • Miami, FL · Member since 2015 · 48 posts · 16 votes
    10y

    @James Ritter@Jose R.Thanks, Our team appreciates it, let us know if we can do something together in the future.

  • Miami, FL · Member since 2015 · 48 posts · 16 votes
    10y

    @Kenyon MooreI use the data from the tax assessor to do direct mail

  • Miami, FL · Member since 2015 · 48 posts · 16 votes
    10y

    @Robert G.How did you find the address? ?

  • Durham, NC · Member since 2016 · 8 posts · 1 vote
    10y

    @Ramon Gonzalez  Thanks for the information. 

  • Residential Real Estate Agent · Miami, FL · Member since 2013 · 195 posts · 138 votes
    10y
    Originally posted by @Ramon Gonzalez:

    @Robert G.How did you find the address? ?

    The 4 digit house number is visible in the photo you posted.

    And I know the city well enough to be able to guess (based on the characteristics of the house) what area it was in.  Took about 10 seconds on google to find.

  • Miami, FL · Member since 2015 · 48 posts · 16 votes
    10y

    @Robert G.impressed...great work

  • Miami, FL · Member since 2015 · 48 posts · 16 votes
    10y

    The deal may turn out to NET more profit,I will be asking all Buyers for the Highest and Best and this will be do Tomorrow!!! Got My fingers crossed, I heard it could go WAY above asking price, it already is above asking, but it could go WAY beyond what I thought!  The profit may be more, much more, got my fingers crossed we will see. 

    WE need that capital to reinvest into the marketing and the sales as the deals are getting harder and hard to come by.  WE just sent out 10,000 mailers, lets see what we can bring in!  Taking my Team and myself to go see Tony RObbins, very excited! I am also looking for Joint Venture if anyone has a deal they would like to work with me on in MIAMI or FORT LAUDERDALE.

  • Miami, FL · Member since 2015 · 48 posts · 16 votes
    10y

    My final post for a little while on BP, I appreciate all your support and guidance.  I will be focused on building and scaling the wholesale business and focused on selling the rentals to start to buy 100+ unit apartment buildings.  If anyone, has a deal or would like to partner, you can reach me at ramon.gonzalez At summithb.com

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