All Forum Posts by: Austin M Margarida

Looks great! I like the numbers too, for this market! Came real close to pulling trigger in 07! but went for 77 instead in the end haha...I wanted to have the first one as a rental, but I think flipping just makes sense from just having to pay for materials. Hoping to get into the westside and selective areas in the northside this year. 

@James Leigh Feel free to reach out I can always try to help out!

That's a great area! There is not a lot of crime, a lot of younger families, and ideal area for military renters too. It is central to highways and you can get to the beach in like ten minutes! I love the area, if you can make the numbers work (if it is a rental) I would say go for it! I offered on a house that I really wanted and could have converted the back garage into an apartment, but they accepted another

Yessir- feel free to shoot me a message! Operating over on the eastside of river right now...once done with this project- and really once I finish building my cabinet boxes and doors I'm going to be aggressively looking for more- commercial and res.

@Kenneth Rosenthal feel free to message me some pictures of your space and idea!

Feel free to shoot me a message! I work on houses here in the troubled parts every day of the week and can shoot you the areas you want to look at and ones you don't. I'm thinking of getting more into section 8 investing as well and handle the construction myself. 

Are you investing out of state?

So a family member currently is providing the down payment funds and materials for the rehab. I will be doing everything else. They are doing a total investment around $50k with a very conservative rehab number and are asking for 7%, which is a great number. It is under their personal name for the down payment. -I am very close to finishing 2 years of construction education and I have had two time full jobs. I put school in the middle of them in the last 3-4 years. 

1. Is there a way I could end up getting this property transferred and then sold in my name? What would need to be done?
2. Can I live in this property for two years and sell for tax benefit? (would refinance to pay back loan)
3. If flipping, we should 1031?, should I prefer to keep it in their name 

     On the sale, how will they get me the funds? 

I am suggesting getting a new LLC-seperate, and for just RE, because we plan on doing more in this market afterwards (if it doesn't rip us lol) What are the benefits?? Can see all the finances easily with business accounts/cc's and all the other tax benefits for LLC's?

Basically just looking for ideas on what would be best on how to structure all of this

I like the Lake Forest area! There are pockets throughout the zip that are nice! Areas I work in a lot and would not want to invest are right off main street south of 32nd street, off myrtle in some areas, off Beaver in some areas near downtown- but that's more 06...

Some spots off Moncrief are a little tough as well...IMO, it's just an area where you really need to drive around to get a feel and see before you purchase. Just a lot of hit/miss

Looking near mayoclinic to people who are needing care for 6 months is a good play! Also have Mayport that you could maybe work something with

If you need any work done I'd love to help