Founding seats open Oct 15
Terrazzo

FAQ

Questions, answered.

What investors ask before they reserve: what lands on Tuesday, how the numbers are built, who else sees a target, and how seats and billing work. Didn’t find yours? Email hello@terrazzo.homes.

Getting started

Seats open October 15.

When does it start?

Founding seats open October 15. Reserve now to hold your place in line: it’s free, and there’s no card. We email you to confirm before anything is charged.

How does reserving work?

Pick an area and leave your email. It’s free, and it isn’t a purchase: it holds your place in line. No card.

The first reservation in each area holds its founding seat: $249 a month, locked while you stay subscribed. The next two line up for a Seat at $449. After that, the waitlist.

The day seats open, we email everyone in line, in order, and ask you to confirm before any charge. We hold your seat for 48 hours. If you pass, it goes to the next in line. You can drop your reservation any time, from the link in our email.

The Short List

The list and its numbers, answered.

What’s on the Short List?

Up to twenty single-family homes under $1M in your area, in order. Some weeks fewer; an empty week says so. Every target comes with a deal sheet: why it’s here, with dated reasons; the max offer and how we got there; the ARV with its comps; the rehab budget; the 50% rule check; permits; before-and-after aerials; and the owner of record with a mailing address.

It lands every Tuesday at 7am, by email and on the site.

What shape are these homes usually in?

Mostly original. The typical target is a 1950s or ’60s block home with no major remodel on record since it was built, so the kitchen, baths, plumbing and electrical are likely original or close to it. That’s the point: a flip needs work to add value.

What comes up most: a roof or A/C with no recent permit on record, older permits never closed out, and, for the many in flood zones, the 50% rule, which caps the rehab before the house has to be brought up to flood code. Each deal sheet’s “What’s been updated” strip shows what the records say, system by system, and the rehab budget prices the work.

Records can’t show everything: settlement, termites, a slow leak. Inspect before you close.

How do I reach the owner?

Each deal sheet has the owner’s name and mailing address of record. Write to them, or knock where it makes sense. There are no phone numbers or emails. We never contact owners, and we take no cut of your deal.

Do the owners want a quick close?

We don’t know, and we don’t ask: we never contact owners. Each deal sheet shows the situation the records do, every reason dated: an estate holding title, a long hold with no homestead, an owner out of state, a foreclosure filing, unpaid taxes, liens or a code case.

Those hint at timing. A foreclosure or a tax deed sale runs on a deadline. An estate may need probate before it can sell. A long-time landlord may be in no hurry at all. Your first letter finds out the rest.

What if a target is already listed?

Then deal through the listing agent. Check before you write.

How are the numbers built?

The max offer (the maximum allowable offer, or MAO) starts from the ARV: the median of what renovated homes nearby sold for, adjusted to today. From there we subtract the full Florida cost stack: selling costs and deed stamps, the rehab at investor-crew rates with contingency, buying costs, financing, holding, and a profit of 10% of the ARV (at least $30,000). Big-ticket items like a roof or A/C go in only when the permit record says they’re due.

Beside it: what the flip makes if you pay the as-is value, the same offer at licensed-contractor rates, the 70% rule for reference, and a worst-case max: the price that still makes the profit if the ARV lands at the low end of the comps, rehab runs 15% over and the sale takes twelve months. Fewer than three renovated comps nearby means no max offer at all, and a rehab that trips the flood 50% rule means no flip offer. Every figure is an estimate, not an appraisal.

How far can I trust the numbers?

They’re estimates. The ARV is the median of renovated sales nearby, the rehab carries a 10–20% contingency, and the offer holds back a 10% profit. The worst-case max shows what still works if the comps come in low and it all runs long. Check them before you offer.

How does your max offer compare with what flippers actually pay?

Our max offer is the most you can pay and still keep a 10% profit after every cost. In the Broward flips we tested, about four in five investors paid more than that, typically 20 to 25% more, and at those prices the typical flip roughly broke even.

What’s the flood 50% rule?

In a flood zone on the federal flood maps, if a rehab costs half or more of what the building (not the land) is worth, the whole house has to be brought up to today’s flood code. For most older South Florida ranches, that means elevating or rebuilding, and the flip stops working.

Every deal sheet checks it, in dollars, at the rehab’s expected cost and at the top of its range. Green means room to spare, amber means close, and red means the planned rehab goes over it, so there’s no flip offer. It’s a screen, not a determination: the city decides at permit.

Seats and billing

Seats and billing, answered.

Who else sees a target?

No more than three seats per area, and every seat in an area gets the same Short List. Targets aren’t published, sold one at a time, or shown to anyone outside those seats.

We never contact owners, and we take no cut of your deal. What you do with the Short List is yours.

Can wholesalers join?

Yes. Anyone can hold a seat. The Short List is for your own deals, so don’t forward or resell it.

Can I cancel?

Any time, online, from your account. A monthly seat runs to the end of the month you’ve paid for. Annual seats get a reminder before they renew. And the first 30 days are covered: if the Short List doesn’t earn its place, we refund the charge in full.