Solid Ground Homes

We absolutely LOVE these before and after shots! We’ve updated EVERYTHING on this luxury home on Pensacola Beach and let me tell you… it is BEAUTIFUL! Don’t hesitate to reach out to Solid Ground Homes if you’re interested in buying or selling on the panhandle and beyond!

The Solid Ground Homes team would like to wish you and your loved ones a VERY Merry Christmas and a Happy Holiday season! We wish you all continued blessings now and into the New Year 🎄☃️🎉

Pull up a chair and come take a walk with Danny on out latest acquisition! We received the keys to this beautiful home just 5 days ago and have taken some incredible strides with cleanup and Demo! Come take a look 🏡 🛠🔨🪚🏠

Danny on TikTok Demo work is in full swing on our Pensacola beach property! Come check out how we’re doing just 5 days after we received the keys!

We did it again! Today we CLOSED on a luxury beach house on Pensacola beach!

We’ve got some AMAZING plans in place for this home and we can’t wait to share our process with you along the way! Stand by for updates from Danny and Aaron on this awesome opportunity!!

Today is merely the starting point. NOW the work begins to completely update this beauty and make it the diamond of the gulf coast!

Thanks for following us, and if you have ever thought about potentially investing in real estate, we’d love to talk about it! Reach out anytime!

🪚 🎵“Bringing down the house! ”🎵 🛠

Well, not entirely, but demo is in full swing on our latest Pensacola project. The drywall is flying. Here you can see where the termite damage was so extensive that so much of the boards had to be pulled up that you can see clear through the floor to the outside!

In the last post about this property, I announced the start of our latest rehab, our exit strategy, a couple back-up exits, and why that was so important right now in a transitioning market. What I didn’t share with you were the numbers which back up the strategies and make this property an attractive investment. So, here they are…

this property came to us through a local wholesaler in our network. She’d been developing relationships with area realtors. The agent realized that this place wasn’t quite ready for the market and went straight to their wholesaler. The wholesaler, in turn, brought the deal to us.

Purchase price: $104,000
Estimated rehab: $53,000
Estimated After Repair Value (ARV): $225,000-235,000

That makes this project a perfect 70% Rule deal out of the gates. Meaning that the total cost the purchase and renovations equal 70% of the ARV. Since, most lenders will lend a maximum of 75% LTV with a cash-out refinance mortgage, after considering holding and closing costs, we’ll be able to pull out all of the seed capital put in to repay our investors with interest or recycle into another project without leaving much or any of our own capital as equity in the house. ALL of the remaining equity was created in forced appreciation.

Even as the market begins to turn, that 25-30% of added value becomes the buffer against the changing tide. For example, let’s say we borrowed 85% of the purchase price, $88,400, and 100% of the rehab, $53,000, for a total amount of $141,400 borrowed from private investors. If in the estimated three months it takes to complete this rehab the local real estate prices drop by 15% and our ARV becomes $191,250-199,750, a bank will still refinance the property to the amount of $133,875.

Bringing it all together…
With the numbers above, Dan and I are into the project for $15,600 and would cover the $7,525 difference to investors at refi, essentially buying a newly renovated home in a great neighborhood for $23,125. …which is projected to earn $3,510 per month, a 91% annual return on cash. But that’s IF the market takes a 15% turn which I’m confident will not be the case. Our project time is short for such a an in-depth renovation and the market data for the area is showing signs of slowing in appreciation at this point. Home values are only going up slower than before.

Not a bad deal for us while also putting some money in our wholesalers’/agents’, contractors’ and investors’ pockets, bringing up the value of the neighborhood, and giving travelers a great option to stay when visiting Pensacola wouldn’t you say?

Daniel Devine

Under contract on Sunday… Closed the next Wednesday!

Danny and I are underway on our latest Pensacola project. It is plain from the beginning that this 1940s era house was going to be a heavy lift with some pretty extensive termite damage in some areas. I’ll follow up with more pics, but one could look straight out holes in the floor to the outside in a few locations after the termite remediation was complete! Nonetheless, it also has a number of great attributes that give the property lots of potential for a value-add project.

One such example is a later addition to the home that became the master living area. It’s such a large space that there is room to add another bath without diminishing the size and comfort expected in a master bedroom.

Another thing that pops out on this deal is a large shed built on slab also on the property. It must have been used as a workshop or game room of some sort because this man cave/she shed already has power and A/C run to it.

Remodeled in its current configuration, this house will make a great long-term or short-term rental in a terrific neighborhood of West Pensacola. we’re still awaiting some more estimates, but the ability to add a bath to the main structure and possibly create another bed and bath with an ADU in the back skyrockets the property’s overall value and income potential.

Imagine, instead of a single 3/1 house listed on Airbnb, there could be a total of THREE Airbnb listings, the house, the ADU separately, and both together as a third listing.

Even without the conversion of the shed to a living unit, adding second full bath to the home will be greatly appreciated by travelers and tenants alike which pays off in dividends over time through greater market rents and nightly rates.

While there’s no doubt the additions will add value over time, what’s uncertain is whether they make sense in the short-term. As we face rising interest rates and cost of materials, it may be a sound plan to complete the primary remodel and hold off on the additions for a time after the house has been refinanced and is established as an income producer. On the other hand, it may be wise to make all the possible appreciable improvements immediately while interest rates are as low as they’re going to be for what I’m guessing is going to be some time to come.

Much more to come as this rehab unfolds. I’ll be sure to post frequent updates including all the numbers and how this one makes so much sense to us in this uncertain market. …I just didn’t want to make this post any longer than it already is! Haha! If you’re interested in learning more about this project or others, and want to get involved, reach out! There’s still room to invest in this project.

Daniel Devine

We SERIOUSLY make it this easy!

No matter the struggle, we will find a solution! All you have to do is reach out!

We are in the business of solving problems! We’re currently helping folks all over the Florida Panhandle and we can help you too!

Reach out today and let Solid Ground Home Buyers be the solution to any problem you may have when it comes to a property you own, no matter the struggle!

We hope you are enjoying this BEAUTIFUL Sunday on the Gulf Coast!

I know we have! We’ve been using the wonderful opportunity that this weather has forwarded us to scope out properties and talk to homeowners that are facing adversity about solving any problems they may have! From the first handshake to the closing table!

If you’re struggling with a property for any reason, or know of anyone that may be, please know that we are here to help turn those struggles into financial freedom! Oh, and we do it FAST!

Don’t hesitate to reach out! We truly hope you have a wonderful rest of your weekend!

~Danny

FLORIDA PANHANDLE

distressed properties are being sold at a record rate of speed and we are in the business of making that happen!

If you’re in a situation that you may think is “impossible”… we are here to help!

Daniel and Aaron are actively working to put cash in the hands of distressed homeowners FAST! Let us take the work out of selling your home!

Reach out today! Let us take the “stress” out of your distressed property!

☎️ 850-332-2080
📧 [email protected]

What an incredible week! We’ve been all over America while our co-founder Aaron spoke as the Key-Note speaker at three different events which included an event hosted by the outstanding Folds of Honor organization!

Folds of Honor is an amazing organization that gifts educational scholarships to the spouses and children of Service Members that paid the ultimate sacrifice. They also gift scholarships to family members of severely wounded Service Members. What an honor to be a part of what they do!

As of right now, we are back home and back to work, finding the best deals in the Gulf Coast!

Do you know someone needing to sell a home that is costing them more than they’d like? Do you know someone that could use money NOW? Contact Daniel so that we can help build YOUR future on Solid Ground!

Have a great week everyone!

Friday nights are great for cranking up some music, loading up our systems and conducting our due diligence so that we can locate property owners that may be in distress.

We’re adding to our lists daily, and working hard to find YOU a great deal here in the Florida panhandle!

If you or anyone you know could use a means to escape from what they think is an impossible situation, give us a call. We are here to help.

If we close on a home that YOU refer to us, we will give you $500 just to say “thank you” for helping us impact the life of another.

Have a great, safe weekend.

We are looking to invest in properties anywhere in the Pensacola area!

And get this!! ANYONE can help! If you know of anyone looking to sell their home FAST, once we close the deal, we’ll send you $500 as a finders bonus!!!

INTERESTED IN INVESTING WITH US ON FUTURE DEALS?!

contact us today so I can add you to our prestigious “Solid Ground Investors Club” so that you have exclusive access to any property we get on contract!

Thank you for checking out Solid Ground Homes! We are a Veteran owned business that specializes in the purchasing and sales of off-market homes in the Florida Panhandle!

We will be using this page to not only market the homes we invest in weekly, but we will also be using this platform to help educate the general public on HOW and WHY we do what we do!

Thanks again for checking us out! We look forward to serving you, and we look forward to bringing the core values of stewardship, integrity and loyalty to each person we come in contact with!

We look forward to helping you build YOUR future on Solid Ground! 🏠