All Forum Posts by: Devon Garbus

Knock on the door, make an offer. Make D.D. as long as you need it to be.

Repeat until you have as many as you need to make it work

Hey guys,

As title says, anywhere in greater tampa bay with a preference for southern hillsborough county. Preferably permitted otherwise we'd file permits during due diligence period.

Bring me your dirt!

Interest rate and origination fee?

What is your relationship with the properties?

Hi Jordan,

Send me what you have. Teardowns particularly but any rehab that fits the 70% rule works in the bay area.

Also multiplexes and apartments. Parcels of land...

Hi THere,

Let's set up a phone interview.

Is buying at almost 90/door to sell at under 300/door really a thing in chicago?

In Tampa if you are selling at 300/door you are buying at 50 max.

Heck I have a 44 unit deal selling at 300/door with a purchase price of 55/door.

Other markets are weird.

Edit- I may not ahve understood. Some units are allready built?

Are there two people on hjere advertising the same property?

Hello bp!

Seller of property is 2 months from entitlement on the project and is looking to build it out himself if possible with a JV investment.

The project consists of 44 1,650 sq foot townhomes off of interbay with a target sale price of $300,000.

Breakdown per unit:

$300,000 - Sale Price

$25,000- Closing Costs

$130,000- Construction Costs

$25,000- Site development

$55,000- Land value (appraised)

$65,000 Total Profit (before holding costs)

Expected absorption rate is about 2/month. Comps and site plans are available.

That isn't enuogh of a drop to purchase before entitlement IMO.