- We identify physically and financially distressed properties through exhaustive online research and marketing, REI networking, broker/realtor networks, word-of-mouth and to no less extent…good old fashioned neighborhood gossip!
- Once identified, SFFP collects and reviews all property information including existing loans and liens, sales history, market value and most importantly the property’s current status (private owners, REO/bank owned, pre/foreclosure, auction etc).
- We do our own research to obtain the most recent, comparable properties sold in the neighborhood (comps). We also use BPO's (Broker's Price Opinion) as well as realtor comps and property appraiser reports to ensure accuracy in the value of the properties.
- If SFFP determines to go forward, we contact the seller or seller’s agent to determine THEIR needs to sell us their property. We'll then meet at the property with our General Contractors (GC’s) to estimate what repairs if any are needed to bring property to marketable condition.
- The After Repair Value (ARV) is determined after evaluating scope of work to be done. Properties can be in 'move-in' condition or may need major rehab, from plumbing and electrical to modernizing bathrooms and kitchens, appliances, re-plastering/drywall, painting and landscaping etc. We include this amount on our purchase offer.
- SFFP provides our Private Investors with a copy of a licensed GC’s ‘Contract for Repairs’ showing scope of work, itemized timeline and reasonable date of completion. As our policy is total transparency on every deal, our Investors are welcome and encouraged to do their own due diligence on the property that they are investing in.
- For families or individuals, we show you properties matching as close to the criteria we were given as possible. If you like a property and decide to buy then the normal paperwork is done, money for the purchase is transferred to the closing agent and you now own your Florida home!
- Each property has one clear exit strategy and two ‘fall-back’ strategies BEFORE purchasing. Strategies are on a case-by-case basis.
South Florida Family Properties, LLC
Common Sense Real Estate Options for Buyers, Sellers & Private Investors
Copyright © 2015