We BUY Houses
We work with a large investor group that spans across the country. We buy single family homes, multi-family properties, condos, and some commercial property and land. The diversity of our investor group allows us to offer fair prices and close quickly regardless of market conditions. We buy properties in good condition but prefer those that may need some work. When we purchase properties we always buy them at a significant discount, we are NOT retail buyers and do not pay market price.
RentalsWe offer freshly remodeled houses and apartments in Lake Worth Florida. You get the benefits of renting from a private owner; the convience of talking directly with the owner, and custom lease agreements, etc. Plus you get the benefits of living in a managed community; 24 hour response to maintenance requests, the peace of mind knowing that your neighbors have undergone through background checks, etc. For a list of current properties click below. Availability....
We SELL Houses
We are not real estate agents. We always have a list of houses available for purchases. These homes are either homes that we have under contract and will assign that contract, homes we have remodeled and are selling to a retail buyer, or they are homes that we have taken back from investors that defaulted on loans to us. The majority of the properties will be the first type. They will be houses that are being sold for 40-70% of the final retail price. We have these houses under contract but we simply have more houses under contract than we can work on at once. We sell the contract on these houses to other investors for a small assignment fee. To see a list of available houses follow the link below. For Sale...
The Investment Process
The process from which a distressed property goes from a "fixer upper" to a finished house requires several steps. Some investors choose to focus on a single step and create value and profit in that step only. Some investors choose to complete the whole process themselves. They buy the house from someone who is behind on their mortgage, a tired landlord, etc. They then fix the house and sell it to the retail buyer. For those of you who are new to real estate investing the following tabs will provide you with a basic understanding of each step in the process. This will help you decide how you best want to invest in real estate.
Many investors choose to wholesale real estate. This is the easiest way to start and allows you to "get in" without any money down. How can this work you ask? Well this is actually the most difficult part of the whole process. You must find the "good deals." You will find the motivated sellers, they will sell their house at a substantial discount to a cash buyer that can close quickly. There are many ways to find them, you can mail letters, you can attract them through web marketing, they are involved in probate or divorce, or you can simply drive around looking for "ugly" houses. Once you find these properties and negotiate a price that is 40-50% of the market value, you will secure them with an assingable contract. Your deposit will be minimal, usually $10, and you must make sure that the contract is assignable. Then you find a investor/buyer and assign them the contract for a fee. You are never liable for more than your deposit and your fee is paid at closing. When you find these properties go to the sellers area of this website and we can assign them to one of our investors and you can make your profit.
The most labor intensive of the process, this is where you take the ugly house and turn it into the nicest home on the block. You generally make the most profit during this process, but also you have the most risk. You can easily run over budget, over schedule, or find major repairs that you didn't expect. Due to these factors you need to build a large cushion into your figures to make sure the project makes sense. If everything goes according to plan your profit will be hefty, but if things don't you will still make money. This is NOT something you want to do if you have a 9-5 job. You can't do this on the weekends, or meet contractors on your lunch break. If your day job is flexible and you can make your own schedule you can make it work. When the house has been completed you can sell it to a retail buyer through a real estate agent, or at a slight discount to an investor looking to buy and hold.
Buy and Hold
Buy and Hold can either be your exit strategy for the rehab process or it can be your entry investment. The most important thing to to a successful and stressfree buy and hold is CASH FLOW! The big payout comes from the appreciation of the property, but the cash flow pays the bills. The biggest mistake new investors make is to base their cash flow on their mortgage payment. Even when taxes and insurance are included there are many other expenses that must be added to determine if the investment makes sense. You must include a vacancy and bad debt expense or one bad tenant or long vacancy period could wipe out your cash flow for months and make your property a liability instead of an assest. Maintenance is another expense that must be budgeted for, and this includes preventative maintenance and upgrades. If you don't keep your property in top notch condition your final appreciation as well as your cash flow will suffer. Many investors use management companies, if you don't have experience as a a property manager I would recommend this, at least at first.