All Forum Posts by: Charles A Munk

@Tarquinina Ford, I'm interested in homes in Western Volusia County.  Please add me to your list at [email protected]

Thanks @Stephanie P.  I'm working on my 3rd flip in the last 5 months.   Just want to make sure I'm getting the best deal until I can work with some private lenders.  Do you have anyone you could recommend?

Great question, looking for this answer as well.

@Jason Malabute I live and invest in Deltona!

@Nick Macklin I used MoFin Lending for my last deal.  20% down of purchase, they finance rehab.  They charge 2 points and I got 10.25% Interest only payments.

Hey Donald, There are a few rentals in our area, actually even one on the street I live on in Deltona.  I believe most vacationers either want Disney area and may do 1 day at the beach or the other way around.  Western Volusia county is in the center but I-4 travel to Disney from here is really difficult with all the I-4 Ultimate construction.  Good luck in meeting your investment goals!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $99,900
Sale price: $162,500

Purchased this property from a wholesaler. Rehab took 55 days. Listed the property and had full cash offer in 17 days. Just closed. Great first flip!

What made you interested in investing in this type of deal?

It was a good deal and I saw the potential.

How did you find this deal and how did you negotiate it?

Wholesaler, not much negotiation, more like take it or leave it.

How did you finance this deal?

Hard money lender, 10.25% interest only loan plus 2 points and stupid fees.

How did you add value to the deal?

Rehab entire home.

What was the outcome?

House came out better than expected. Sold for above AVR.

Lessons learned? Challenges?

Lessons

1. Don't back into the garage door unless you want to replace it. (I did accidentally)
2. Rehab always takes longer than you expect.
3. Lending fees suck

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Actually, the first step I took to get involved in Real Estate investing is to be come an agent. Between the quality of the data available as an agent and unlimited access to every property on the MLS made it a no brainer for me. So, I was the selling agent. I do recommend Westside Title in Orange City.

@Donald Timmons  I live in the area you are describing.  It has great potential as a rental market especially with Lake Mary becoming an employment hub.  The challenge is finding the deals, yet they are out there.

@Darren DeSilva Currently targeting SFH's for flip or BRRR. I like Deland as well but there are areas in Deland that have high crime and I will stay away from.

@Darren DeSilva @Robert Kirkley I live in the western Volusia county area and just began flipping houses here (close on my first flip in a week).  I believe the Deltona, Debary, Orange City area is a great place to invest especially with Lake Mary becoming the new Maitland.  There are lots of people commuting to Lake Mark and Maitland to work.  Also, we are building a new hospital and a new Towne Center is planned for Deltona.  Would love to connect!