Learn how to Flip Homes and make money Flipping Houses in the Tampa Bay area
Assume, in a very nice Palm Harbor subdivision, a home in good condition would sell for $225,000 in the current market. In the height, this 4br 3ba pool home sold for $350,000. But the Bank Foreclosure happened. They have it listed for $189,000, it has not Sold. Why?… It needs a new roof, the kitchen is missing, all the fixtures have been stripped out. It is over grown and does not appeal to a retail buyer. The home can not be FHA financed in its current condition. Days on market continue to add up.
This is an Ideal Opportunity For Fliipping Homes! In this scenario we know what the home will sell for in repaired condition and the cost to repair it. Why do we know this? Your flip partner has over 19 years experience dealing with bank foreclosures, general contractor and extensive building background. We currently do 25 evaluations, BPOs, a week for Banks. The Goal is to purchase it right from the Bank to achieve a respectable double digit profit to the investor
In this scenario we know the under market list price, completely repaired is $215,000. After selling cost and commission the net sale price is $200,000 minus the cost to repair and cosmetically enhance, true net sale price would be $185,000. We want to buy from the bank at $145,000 for a gross profit of $40,000. Assume $10,000 for contingences and management, net investor profit is $30,000. The investor puts up $160,000 cash, purchase price plus $15,000 to repair. The process takes four months from the time you buy to the time you sell to the retail buyer.
Invest the same cash three times in one year, a $90,000 profit is realized, RISK?…….. Any investment has Risk. But take a close look at the facts. You, as the investor, own the property. You purchased it under market. What do you have when you put your money in a CD…… SAFETY. A $160,000 CD investment will yield about $2,000 annual return. Or, invest in the Stock Market and keep your fingers crossed. Investing in Bank owned Real Estate in this current tricky market is not for everyone. But you can realize double digit ROI.
Here’s A Recent Example Of Our Latest Success Flipping Houses. The Casa Bella Vita Project That Returned Over Six Figures Of Net Profit To Our Investors In Less Than 100 Days!
Contact us Today. I can only take on five new investors in 2014
Get Started Now….See our Hot List of Wholesale Property.
Anthony Marottoli, Broker
SEL-FAST REO Management
34931 US 19 N Palm Harbor Fl 34688
Cell: 727 642 9480
Office: 727 724 6565