lagoon
are u seeing any desperation in the preconstruction condo market in Panama City or surrounding areas??
Im also looking for a rehab project in either Pcola or along the beach areas close to mobile and gulfshores
There are lots of wholesalers in Florida. Zero in on a region or city. The daily newspapers have a few listings and many advertisers have a portfolio of properties they will email or fax upon request.
We wholesaled over 20 homes last year... fresh from foreclosure to the rehabber. The key word is fresh and the properties have only passed thru one set of hands before the rehabber buys.
Wholesalers here sell with reasonable prices, but rather brutal terms. Net to seller pricing. You pay all closing costs. You need to do your due diligence before you offer to purchase. No contingency offers accepted. If you fail to perform, you lose your $1k to $5k deposit.
It seems as though a homebound person would be at an extreme disadvantage rehabbing, since a thorough inspection of the premises determines whether a home needs $10k or $35k worth of work, and the rehab crew needs on-site supervision to keep costs in line.
Specially in hot, humid Florida where wood rot is public enemy No. 1. You could focus on masonry homes built on a slab, though.
>>It seems as though a homebound person would be at an extreme disadvantage rehabbing<<
She is homebound but we are contractors and have field supervisors so that it not an issue if it is local or if she needs to send someone to do the checkups.
LagoonCondo to start we are interested in Palm Beach, Martin and St Lucie County. Also in Lake and Alachua Counties. I do not understand you referene to the percentages so I will discuss that with her for clarification.
As for rehabbing in Florida. I do not agree that wood homes are excessively subject to woodrot. If the wood was properly treated and the builder/homeowner had good drainage from the roofs nand near door and window jams there is not much woodrot. We have done a lot of remodeling and additions and the only times we have seen wood rot has been when folks had the pation slab with no covering. Water beat on the slab and backbeat to the wood thus creating a problem.
I agree that a lease option/rent to own or CFD is going to attract more potential buyers, but you have to carry the paper or discount it to somebody else to cash out. If you can carry it, then cool, but if you just want to cash out and move on, you need to do something to make the property more attractive...hence the "corvette" comment.
1) look into 1031 exchanges
2) better marketing including showing the return one can make off the rental and posting profiles on the many online sites.
or
3) better realtor company to list with
4) more pictures and info for potential buyers including flyers with listing info and pics.
5) do owner finance
lagoon
are u seeing any desperation in the preconstruction condo market in Panama City or surrounding areas??
Im also looking for a rehab project in either Pcola or along the beach areas close to mobile and gulfshores
There are lots of wholesalers in Florida. Zero in on a region or city. The daily newspapers have a few listings and many advertisers have a portfolio of properties they will email or fax upon request.
We wholesaled over 20 homes last year... fresh from foreclosure to the rehabber. The key word is fresh and the properties have only passed thru one set of hands before the rehabber buys.
Wholesalers here sell with reasonable prices, but rather brutal terms. Net to seller pricing. You pay all closing costs. You need to do your due diligence before you offer to purchase. No contingency offers accepted. If you fail to perform, you lose your $1k to $5k deposit.
It seems as though a homebound person would be at an extreme disadvantage rehabbing, since a thorough inspection of the premises determines whether a home needs $10k or $35k worth of work, and the rehab crew needs on-site supervision to keep costs in line.
Specially in hot, humid Florida where wood rot is public enemy No. 1. You could focus on masonry homes built on a slab, though.
Best of luck to you and your sister.
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>>It seems as though a homebound person would be at an extreme disadvantage rehabbing<<
She is homebound but we are contractors and have field supervisors so that it not an issue if it is local or if she needs to send someone to do the checkups.
LagoonCondo to start we are interested in Palm Beach, Martin and St Lucie County. Also in Lake and Alachua Counties. I do not understand you referene to the percentages so I will discuss that with her for clarification.
As for rehabbing in Florida. I do not agree that wood homes are excessively subject to woodrot. If the wood was properly treated and the builder/homeowner had good drainage from the roofs nand near door and window jams there is not much woodrot. We have done a lot of remodeling and additions and the only times we have seen wood rot has been when folks had the pation slab with no covering. Water beat on the slab and backbeat to the wood thus creating a problem.
How about selling it on a Lease Option or Contract For Deed? Then you could offer "No Qualifying" or "Rent to Own" or something along those lines.
Just a thought.
throw in a "corvette".
I agree that a lease option/rent to own or CFD is going to attract more potential buyers, but you have to carry the paper or discount it to somebody else to cash out. If you can carry it, then cool, but if you just want to cash out and move on, you need to do something to make the property more attractive...hence the "corvette" comment.
Scott
1) look into 1031 exchanges
2) better marketing including showing the return one can make off the rental and posting profiles on the many online sites.
or
3) better realtor company to list with
4) more pictures and info for potential buyers including flyers with listing info and pics.
5) do owner finance
First the garage conversion doesn’t add the same per square foot value as the rest of the house....
And if it was done without a permit than their isn’t value at all, in fact you may have created some functional obsolescence...
Your realtor’s commits seem to be off as there are 3 things that cause a house to sell...
Price Location and Condition.. You only have control of 2 of those items...
If you would like Real Honest information I would be glad to help you through this situation but I need more info from you...
The idea of a Lease Option is only one method available to you...
There are several ways to skin this cat but most of them may cause financial hardship of one sort or another...
Let me know if you need help...
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