Investors, wholesalers, and Realtors often contact us asking “what are you looking to buy?” or “what is your investing criteria?“
So this page is to assist in answering those questions. We want your extra deals that you need to unload quickly. We have plenty of cash, credit lines, and access to private lenders, so money to close is not an issue. We typically can close in 3-4 weeks, subject to inspection, for deals under $100,000. If you are a new investor and need advice, assistance, tutoring, we can help you. We do not have a formal training program but want to help new people succeed. Additionally, we recommend that you join a local real estate investor association/club like Central Florida Realty Investors.
If you are a Realtor or real estate broker, we understand. Our principals are also licensed. We will make sure that you get paid and protect your full commission. If you have a listed property, we will let you take both sides of the commission for a win-win transaction.
Below is our buying criteria. However, these criteria is an “ideal” property. We will look at anything and if it will not work, we will tell you what number will work.
- 3 bedroom (or bigger) concrete block single-family homes.
- 2 bedroom (or bigger) condos and townhouses.
- Duplexes, triplexes, and fourplexes.
- Platted vacant lots in urban/suburban residential neighborhoods on paved streets.
- We will also look at smaller homes and condos, frame homes, larger land tracts, mobile homes on owned land, commercial, and multi-family but the price / terms need to be pretty fantastic.Locations:
- Anywhere in Florida – in fact anywhere in the United States. The further from our Orlando Florida headquarters, though, the better the price / terms need to be. We work in metro Orlando, Tampa, St Pete, Sarasota, Fort Myers, Ocala, Gainesville, Fort Lauderdale, Miami, Port St Lucie, Daytona Beach, Jacksonville, and Tallahassee to name a few places.
- We love working class neighborhoods.
- We love middle-class neighborhoods.
- Properties that are in war zones, high crime, busy roads, next to commercial, next to eyesores, rural with non-paved roads, or otherwise not family friendly are not completely out of the question, but the price / terms again need to be fantastic.
- High-end homes and mansions are fine but need to be incredible deals for us to pay cash. Otherwise, they need to have some sort of creative financing or longer-term option available to minimize our risk.Condition:
- Obviously, cosmetic rehabs are the most desired but often harder to get better deals on.
- Heavy rehabs including sinkhole, fire, and storm damage are fine. Just need to be priced accordingly.
- We have dealt with about every repair issue you can think of, so bring us whatever you can find.Price:
- Rule of thumb – 60% of after-repaired value (ARV) minus repairs for most houses.
- Price range – We prefer to pay under $100,000 for homes. We love homes under $50,000. We certainly will pay more money for high-end homes, 2 to 4 family, multi-family, and commercial deals if the numbers make sense.
- We always prefer a good price on good terms. Good terms mean things like lease option, option contract, seller financing, subject to existing mortgage, split funding, and similar creative financing deals.