All Forum Posts by: Thomas Swindell

Andy, can you message me your phone number?

Andrew K.,

It is my under sting that the Thornton Park historic board will not let you tear these houses down since they are on the historic registry. We thought about buying the lots and selling to builder prior to finding out its on the historic registry.

Andrew, this one is on James Ave.

My wife and I use Jerry Puckett for our direct mail here in Central Florida and we got a lead in a few days ago. This is a probate lead, they're ready to sell the house but have no intention to sell with a realtor on the retail market. 2 properties on a double lot located downtown Orlando in Thornton Park. Front property is a 2/1, 1100 sf. There is a garage/duplex in the back totalling about 1000 sf. They are both 1/1s on the tax appraiser, however the upstairs apartment has 2 bedrooms with one of them not having AC (which can be fixed during renovations). 

Both properties need about $150,000 combined in renovations. Old 1924 wood frame homes that have never been renovated, lots of termite damage, houses were recently tented. It's on the Thornton Park historic registry which scares me even more as there are historic architectural requirements that have to be adhered to during renovations.

I think this property would go for $400,000 ARV if renovated properly. However this isn't a good flip opportunity since they want $250,000 for it (which I think is absurd with the amount of work that needs to be done). Needless to say, sellers don't seem very motivated yet. I get interested at $150,000 purchase price.

The only play I see here is to wholesale it to someone looking for some cash flow on a rental property. 5 bedrooms in Thornton Park could generate $3k-$4k per month in rent depending on level of renovation to be done. I don't think I could come up to $250k but I would think I could find a buy and hold investor willing to pay more for this than someone like myself looking to fix and flip. 

You guys have any ideas what I should consider offering based on the amount of renovations needed and the amount of cash flow this could bring in for a buy and hold investor, and still leave a little room to make some money on the wholesale transaction?

I don't know if this is the appropriate forum or not to ask this question but I'm having problems finding a decent landscaper in Orlando. We have a couple properties that need need landscape work (sod/shrubs, maybe some irrigation) and I've spoken with a few landscapers and the prices they are giving me seem really high for a few days work. Maybe it's just high prices for the time of year? We've been lucky and have a great group of contractors (plumber, roofer, cabinet guy, granite guy, painter, etc that I would be more than happy to refer to anyone that needs good labor) but for the life of me I cannot find a good landscaper. Any local central Florida investors willing to share a landscaper contact?

Never mind, I see the photos. 

Any chance you can post a photo so we can see what the current state of the wood siding looks like? I hate how cheap vinyl siding looks. If there is anyway to save the wood and have it look good, my gut is to go with refinishing the wood.

What's the over/under on how long it will be until BP gets 500,000 members? It's only a matter of time! Congrats Josh & Brandon!!!!

Troy Sheets , What's even more ironic is my day job is in insurance, and a lot of people think insurance companies are thieves down here in Florida with the rates we charge.

Originally posted by @Rick H.:

Re-read the OP. He asks how he can protect himself.  My actions are NOT aggressive. 

This is not violating her rights!  If she uses her own money to pay her attorney, seller can sell once she obtained capacity, power and authority to sell. Since she's not doing that, she can do it my way either my money or find someone else.

Preventing the would-be seller from being able to outmaneuver you by changing her mind, leaving you stuck after paying her legal costs is not the position I want to be in.

I've had too many people take advantage of my generosity after I've done the hard work and put up the money. Nearly 2,000 probate deals later, I speak from experience. 

 Rick, 

I apologize if this is a dumb question but what does clouding the title mean?