Orlando's Businessman diving into the Buy & Hold concept

[Edward Salazar]

My name is Edward, I live in Orlando, FL and would like to meet local investors that purchase Multifamily Units to buy and hold and/or Flips. My idea is to network and exchange ideas, where I can enrich my knowledge and also give my feedback in possible lacking areas.

I have an active RE licence since 2004 and practiced Successfully for 3 years, While still practicing RE, I started a concrete equipment sales company in the year 2006, which is very successful today and led me to open 2 additional companies in the related industry, one of them in the USA and another one in Colombia (My home country). Today my companies are more manageable by employees thanks to the systems implemented by me, but I want to return to RE. I have been listening to as many BP podcasts as I can, and loved the idea of having additional Income from renting Multifamily units. Based on what I know from business, and what I have been researching I created my own analysis tool that allows me to quickly know if a deal makes since for me. I recently reactivated my MLS and have been searching for deals (Not having much luck), Spoke to a couple of banks that know me and my companies, and I have been approved to purchase anything with 20-25% down, and refinance the same deal @75% within 3 months to get most of the cash out. One of the banks offered me to repeat this operation up to 7 times. Spoke to some contractors I know in my industry and found good people that is ready to start renovating these properties for me, whether is a flip (to get feet wet) or my actual goal " Buy and Hold". Along with this, my attorney is always ready to research a property for liens at any given moment.

Whoever is reading this must be thinking, "well you have all your ducks in the row" but I have 2 problems. 

One: I have not been able to find any GOOD properties in the MLS, which is understandable for the current market conditions, I even placed security deposit at the court house's auction, trying to purchase foreclosures, but they get sold for too much

Two: I NEED TO FIND HOLES OR POKE THEM IN MY " PERFECTLY STRUCTURED " MODEL, I feel that i need someones experience in the same business model, that would ground my mind. 

I don't just expect things for free, I am willing to also provide my experience in owning several different successful and Horribly unsuccessful businesses for your own feedback, Have been involved in wonderful partnerships and THE WORST KIND TOO, I have good contacts in the construction industry and own many pieces of concrete pumping equipment and real estate, along with a sharp mind for numbers and willingness to exchange information and network.