All Forum Posts by: Nigel Dixon

Hi!  I'm an investor in the Orlando Area.  I'm now looking to purchase single family homes in the Jacksonville Fl Area.  I'm looking for any wholesalers in the Jacksonville FL area that i connect with.  Also i would like to connect with any other investors in the Jacksonville area also.  Thanks!!!!

I'm sorry i might not have been clear...no I'm not doing a traditional refi.  I'm using my PERSONAL money to buy the property.  Then using the private money to REFi the house at 60% value to pull all the money I've invested into out.  

Hope that more clear thanks

I have been recently using some private money with the terms as following:

5 Year Interest Only with ballon payment due at end of loan

No prepayment Penalties

Will Loan up to 70% of the appraised value of the home

No Credit Score Needed

12% intrest Rate 

Flat 3,000 Brokerage Fee no matter how much the loan

`1,500 Attorney fee

Heres one of the deals I'm doing right now using this loan

Purchased Property for 50,000

Repair cost 10,000

ARV 110,000

Refi at 60% of 110,000

property rents for 1,100 a month

mortgage payment taxes insurance 825 monthly

275 profit monthly

Any feedback would be awesome!

Hello i wanted to know are there any investors who buy in daytona beach fl?  If so how have your properties performed in that area?  Im looking to start investing in Daytona so i was just curious thanks!

This Happens ALL the TIME in my area. There's a million shady things that can go on with a short sale. Ive put in higher offers all cash no contingencies and still did not get the contract on the home. Ive ran across realtors that list the Property for shortsale but say theres NO SHOWINGS till 3 days have passed...and guess what on the first day of the three days the house ALL OF A SUDDEN HAS A PENDING CONTRACT. That's just the way the market is being played right now and its all up to the sellers anyway to decide so its out of your hands just keep it moving to the next short sale :)

I always try to keep my appliances in my rentals matching in color. I do own a rental that i had a black range and dishwasher but i had a white fridge. That unit still rented quickly so i guess as long as your unit is clean and everything is in working order then that's what matter most. Also be careful with SS appliances in rentals there hard to keep clean the SS marks if not cleaned correctly I prefer to use black or white appliances.

Inventory is very tight here in Orlando and even though there's a feeding frenzy the REO properties that are coming out on the market still are very high quality properties and are worth going after as long as the numbers work of course. There's still a ton of deals out there so need to go crazy and overpay in this current market but also no need to sit on the sidelines either and miss out on these once in a lifetime prices on these properties. You just have play harder and think smarter :)

Bad Idea to many liability issues.....some one falls in and drowns or slip and hurt themselves then you will be held liable. And pools are costly they break down if not taken care of which means more money out of your pocket. I tend to shy away from pool homes just one of my pet peeves.

Yep the hedge funds are snapping up homes here in orlando also super major activity. My partner talked to one of the reps from this fund (i cant remember the funds name) and he said last month alone the fund spent 10 million dollars on properties and they have another 80 million to spend. Time to put your hard hat on.

Hi BP world today I found a bank owned 1 BR 1 Bath 700sqft in excellent condition with a Low hoa of 30 dollars monthly and at awesome price i'm a cash buyer investor and would like to add this to my portfolio but i heard i should stay away from 1 bedrooms. Any one have any thoughts or past experiences with 1 bedroom 1 bath condos? Thanks