All Forum Posts by: Jazmine S.

Hello everyone!

I recently closed on a 5/2 single-family in Tampa, FL, and am seeking 30k for 30% equity on this great flip!

The property address is 1727 Windsor Way, Tampa, FL 33619.

PP: 109k

ARV: 170k

Rehab: 30k

Estimated Total Profit: 15k

Return Timeframe: 6 months to be conservative, however much more likely to be 3-4 months

I of course have a Profit and Loss Statement and a Term Sheet if requested.

As for comps, this property is larger than most in the area, so the below homes are to be used as a guide for what this property will be sold for. In addition to the below listed comps, multiple lenders, sales associates, and brokers have concluded that 170k is a realistic ARV.

If you're looking for ways to make money on the side that won't take up any of your time, this is it! Looking forward to discussing this opportunity with you.

Hello all!

I would love to inquire within the BP community about a builder's risk policy for a FL SFH rehab. I have received a couple of quotes from external sources already and will be locking down my choice very soon!

If you search 'Arkansas "rehab only" loan' online, you will see a couple of companies that state they lend money on just the rehab costs alone. This is also called gap funding and difficult to find but it's out there. Make sure you keep "rehab only" in quotes or you'll just find a ton of HMLs.

The very last line of the right column states "paid from your loan amount", and estimated cash to close is about 79k. For reference, the loan is 109 and the LTV is 80%. To me the paid from loan amount line sounds like the funds I am borrowing from my lender will cover the closing costs, and I will be paying it back to them with interest, but but then it states estimated cash to close provided to borrower as much less than 80% of the PP. I want to make sure I understand before I move forward. Will the 7k be paid from me out of pocket at closing?

Thank you very much!

I am looking at an appealing listing and it states that the buyer must close open permits. I see at least 6 that are not closed yet, but am curious as to what the negative impact of keeping them open would be. I understand the need to take care of a code violation immediately etc., but I always thought of a permit as being a permission granted to the homeowner for something specific they requested. Is there truly a need to close these out? 

@Brent Blum From what I've gathered you can only send a message after the user has accepted your connect request.

@Patrick L. Sellers are motivated and have asked how much lower I need (offer has already been canceled at the original contract price at 10k less than list). My question is realistically how much you might ballpark this type of deduction? 20k? The home is located in Tampa - 33617.

"Purchaser further agrees that it will not enter into any contract for deed or lease with option to purchase agreements regarding the Property, unless Purchaser is a non-profit organization or has obtained Fannie Mae’s prior written consent."

I assume this is saying that the buyer is not able to sell the property to anyone other than a non-profit, and the "option to purchase agreements" part is referring to going under contract correct?