Where’s all my South Florida OOS Investor?!

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Where’s all my South Florida OOS Investor?!

Kevin Sabatino
Investor · Jupiter, FL · Member since 2019 · 54 posts · 20 votes

Where’s all my south Floridians out of state investors?

Hey guys! My name is Kevin and I live in Fort Lauderdale. I really think 2020 is going to be GREAT for a lot of us! I know there's power in numbers so I want to see who's looking to connect and maybe work together towards common goals and interest. My 2020 goals is simple and I want to buy 2 multi-family properties. I personally am looking for buy and hold properties that I can do BRRRR on. I'm currently looking in the Ohio, Indiana, Texas, Orlando and Jax FL market.

-Where are you guys located?

-Whats your 2020 goals?

-What strategies are you guys using?

-What areas are you looking to invest in?

I’m hoping this thread can pick up some traction and maybe out of it create meetups and work together towards common goals!

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Chace Fraser
Realtor · Portland, OR · Member since 2017 · 357 posts · 259 votes
6y

@Kevin Sabatino @Nathan Olds @Jason Etheridge it looks like there are a ton of meetups in your area: 

https://www.biggerpockets.com/forums/521-events-and-happenings?utf8=%E2%9C%93&period=&zip_code=Fort+Lauderdale%2C+FL&distance=25&commit=Search

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  • James Ross
    Investor · Fort Lauderdale · Member since 2019 · 9 posts · 1 vote
    6y

    Hey Kevin! I'm interested in purchasing a few multi-family properties as well this year. I'm planning my search in the Fort Lauderdale market to start though as I would like to house-hack and learn the business before looking elsewhere. What has been your experience in the Fort Lauderdale market? 

    0Reply
  • Jason Etheridge
    Rental Property Investor · Fort Lauderdale, FL · Member since 2019 · 23 posts · 4 votes
    6y

    @Kevin Sabatino

    And James

    I’m also in Fort Lauderdale and looking to connect with some like-minded investors.

    We should definitely get a meetup going on out here sometime soon. It would be better if this thread picks up some traction like you said but either way is cool!

    1Reply
  • Nathan OldsPro Member
    Rental Property Investor · Margate, FL · Member since 2019 · 52 posts · 21 votes
    6y

    @Kevin Sabatino I live in fort lauderdale and work in Boca. I am new to real estate investing and will be purchasing my first property in the coming months. My goal for 2020 is 1 multifamily house hack (3 or 4 units).

    I would love to create/attend a meetup group with other investors in south florida. Let's make that happen!

    0Reply
  • Chace Fraser
    Realtor · Portland, OR · Member since 2017 · 357 posts · 259 votes
    6y

    @Kevin Sabatino @Nathan Olds @Jason Etheridge it looks like there are a ton of meetups in your area: 

    https://www.biggerpockets.com/forums/521-events-and-happenings?utf8=%E2%9C%93&period=&zip_code=Fort+Lauderdale%2C+FL&distance=25&commit=Search

    1Reply
  • Jason Etheridge
    Rental Property Investor · Fort Lauderdale, FL · Member since 2019 · 23 posts · 4 votes
    6y

    @Chace Fraser

    Oh wow thanks Chace! Didn’t even notice that part of bigger pockets yet

    0Reply
  • Jason Etheridge
    Rental Property Investor · Fort Lauderdale, FL · Member since 2019 · 23 posts · 4 votes
    6y

    By the way--- I was on my phone and it was late last night when I replied... I'm also new and have been looking for a property for awhile, have made offers on a few but they haven't panned out to where I'm comfortable.

    -Whats your 2020 goals?

    Looking to get my my feet wet with one deal pretty quickly here (3-4 unit) and then work towards 1-2 more this year.

    -What strategies are you guys using?

    I'm looking for value add opportunities as well as rental increase's. Trying to find something I can purchase at about 80% of market value.

    -What areas are you looking to invest in?

    I was looking for a good deal in broward county for the past 6-7 months or so by scanning the mls and running numbers but the values are just too high right now I think.

    Ive set my sights more on northern Florida earlier this week because the property values seem to make more sense. A little nervous about getting a property a few hours north but ill figure it out.

    0Reply
  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    6y

    If anyone here in South Florida is looking to shop rates and lenders, please feel free to reach out! 🙂

    [email protected]619-456-8311
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    1Reply
  • James Ross
    Investor · Fort Lauderdale · Member since 2019 · 9 posts · 1 vote
    6y

    @Jason Etheridge

    @Nathan Olds

    Seems like we all have similar goals for 2020 of purchasing our first MF. 

    I’m looking for cash flow most importantly. I want a cash on cash return of 10%. That’s probably my most important criteria. I plan on backing into the sale price based on that and plan to offer what is reasonable. Definitely will have to make several offers. 

    I started looking up north as well, Delray looks nice. Lake Worth not so much even though the prices are lower. I plan on buying the first one in broward to learn but after the first one I may look elsewhere. 


    0Reply
  • Jon HuberPro Member
    Rental Property Investor · Boca Raton, FL · Member since 2014 · 1k+ posts · 713 votes
    6y

    @Kevin Sabatino, @James Ross, @Jason Etheridge, @Nathan Olds, Great to meet you guys! We have a long running meetup the second Saturday of every month in Delray. You can find it by searching for "Coffee with Investors in Delray". We've been meeting for over 4 years now. We get about 50 ppl each meeting. Half the room are newbies, so the environment is pretty casual, at a coffee shop.

    -Where are you guys located? Boca, but my portfolio spans both coasts and Missouri.

    -Whats your 2020 goals? 100+ units in two new markets each.

    -What strategies are you guys using? Off Market Mailers, Raise Private money, Buy & Hold, refi out private money

    -What areas are you looking to invest in? Currently in CA, FL, and MO... expanding to OH, TX, NC, and other areas in FL.

    Let me know if you guys would like more info on the meetup in Delray!

    Welcome to the community.

    1Reply
  • James Ross
    Investor · Fort Lauderdale · Member since 2019 · 9 posts · 1 vote
    6y

    @Jon Huber

    Thank you for the invite! I’ll be there for the next meeting in Delray! Looking forward to it.

    0Reply
  • Nathan OldsPro Member
    Rental Property Investor · Margate, FL · Member since 2019 · 52 posts · 21 votes
    6y

    @Jon Huber That coffee meetup sounds great. I plan to attend the next one, Feb 8. Is this event on BP or another media? I didn't see any future events in the BP event forums. 

    0Reply
  • Kevin Sabatino
    OP
    Investor · Jupiter, FL · Member since 2019 · 54 posts · 20 votes
    6y
    Originally posted by @James Ross:

    Hey Kevin! I'm interested in purchasing a few multi-family properties as well this year. I'm planning my search in the Fort Lauderdale market to start though as I would like to house-hack and learn the business before looking elsewhere. What has been your experience in the Fort Lauderdale market? 

    Hey James,

    Well I actually live in Fort Lauderdale. My personal house has tremulously grown in value just in 4 years since I bought, which is how I'm able to take a line of equity in my primary residence to use it for investment purposes. I'm also looking to house hack but i'm heading more north where it's slightly more affordable and bigger houses and lots for my money. Best Regards!!

    0Reply
  • Kevin Sabatino
    OP
    Investor · Jupiter, FL · Member since 2019 · 54 posts · 20 votes
    6y
    Originally posted by @Nathan Olds:

    @Kevin Sabatino I live in fort lauderdale and work in Boca. I am new to real estate investing and will be purchasing my first property in the coming months. My goal for 2020 is 1 multifamily house hack (3 or 4 units).

    I would love to create/attend a meetup group with other investors in south florida. Let's make that happen!

    Hey Nathan! It was nice meeting you tonight didn't realize it was you until now. We're in the same boat I'm looking to house hack as well but like we discussed tonight you have a much bigger advantage to do so! Let me know if there's anything I can help you with!

    I have to ask...What kind of properties you buying in Cali? I always hear how expensive that market is which creates a lot of people who live there to invest out in other markets.

    0Reply
  • Kevin Sabatino
    OP
    Investor · Jupiter, FL · Member since 2019 · 54 posts · 20 votes
    6y
    Originally posted by @Jason Etheridge:

    By the way--- I was on my phone and it was late last night when I replied... I'm also new and have been looking for a property for awhile, have made offers on a few but they haven't panned out to where I'm comfortable.

    -Whats your 2020 goals?

    Looking to get my my feet wet with one deal pretty quickly here (3-4 unit) and then work towards 1-2 more this year.

    -What strategies are you guys using?

    I'm looking for value add opportunities as well as rental increase's. Trying to find something I can purchase at about 80% of market value.

    -What areas are you looking to invest in?

    I was looking for a good deal in broward county for the past 6-7 months or so by scanning the mls and running numbers but the values are just too high right now I think.

    Ive set my sights more on northern Florida earlier this week because the property values seem to make more sense. A little nervous about getting a property a few hours north but ill figure it out.

    Welcome to the club my friend! Investing in South Florida for newbies like myself is not easy, which is why I'm resorting to northern florida and OOS.

    Best Regards

    0Reply
  • Kevin Sabatino
    OP
    Investor · Jupiter, FL · Member since 2019 · 54 posts · 20 votes
    6y
    Originally posted by @Jon Huber:

    @Kevin Sabatino, @James Ross, @Jason Etheridge, @Nathan Olds, Great to meet you guys! We have a long running meetup the second Saturday of every month in Delray. You can find it by searching for "Coffee with Investors in Delray". We've been meeting for over 4 years now. We get about 50 ppl each meeting. Half the room are newbies, so the environment is pretty casual, at a coffee shop.

    -Where are you guys located? Boca, but my portfolio spans both coasts and Missouri.

    -Whats your 2020 goals? 100+ units in two new markets each.

    -What strategies are you guys using? Off Market Mailers, Raise Private money, Buy & Hold, refi out private money

    -What areas are you looking to invest in? Currently in CA, FL, and MO... expanding to OH, TX, NC, and other areas in FL.

    Let me know if you guys would like more info on the meetup in Delray!

    Welcome to the community.

    Hey Jon!

    I was looking forward attend the last meet-up you guys had but I was on shift. The next one I should definitely be able to make it. Looking forward to it! Thanks for sharing!

    0Reply
  • Jason Etheridge
    Rental Property Investor · Fort Lauderdale, FL · Member since 2019 · 23 posts · 4 votes
    6y

    @Jon Huber

    Awesome Jon! I’ll definitely try to make it out there if I can on Saturday’s. I sell cars and that’s our busiest day of the week but I’m sure I can manage to take off from time to time. I like the goals! Keep grinding, I’m working my way to getting like you!

    0Reply
  • Jason Etheridge
    Rental Property Investor · Fort Lauderdale, FL · Member since 2019 · 23 posts · 4 votes
    6y

    @Kevin Sabatino

    Thanks man! We should all get together one of these days that makes sense for everyone

    0Reply
  • Jason Etheridge
    Rental Property Investor · Fort Lauderdale, FL · Member since 2019 · 23 posts · 4 votes
    6y

    @James Ross

    10% CoC return is where I'm trying to start out as well and build up from there yearly with rental increases/cutting expenses. Let's get this empire started 🏢

    We should all get together one of these says! I’m on my phone so not easy to tag everyone right now lol

    0Reply
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