SF Investor Looking to Network

[Joe Gettler]

Hey everyone,

I have a demanding schedule/lifestyle living in SF and am looking to buy my 1st buy and hold investment property in the next 90days. I have read quite a bit about REI and now its time to make a move. My buying criteria is: 15%+ CoC return while using a property manager to manage my properties so I can focus on my business while my RE portfolio grows with little time investment on my part after the purchase. Looking for a purchase price around $400k with 20% down.

That said, I'm looking to find an area with high enough CoC returns that I could fit a property manager into the equation while still profiting from my investment. I'm currently talking a RE agent in Tampa, FL and am researching Orlando, and Atlanta. For those living in expensive areas, how and where have you found success investing in buy and hold away from home? Are there areas in CA that could yield these returns? Would love to share ideas and connect if you have experience in this arena.

Thanks guys!

[Ryan Fitzhugh]

Joe,

I am currently working for a wholesale brokerage in Saint Petersburg, FL. We just opened up our Tampa office two weeks ago. We sell distressed single-family and multi-family residential properties to our investors. Currently averaging about 15-20 properties each month in both Tampa and Saint Petersburg. 

Your criteria seems on par for the kind of deals that we sell. Most of our properties do need some work, but some are rental ready. I also have a few contacts that I work with who own property management companies and I would be happy to get you in touch. 

My question is, what are you looking for? Multi-family units, duplexes, town homes, condos, or maybe even small apartment complexes? With a purchase price of 400k, I could get you into a few multi-family properties all with returns 15% CoC, but that depends if you want to be in more expensive areas or not. $400,000 can go along way depending on the area and rehab of the property.

I hope that I can help and feel free to message me. I am an open book and am very knowledgeable about the market in the Tampa Bay area. Thanks

-Ryan Fitzhugh