All Forum Posts by: Bradley De comarmond

Hey @Daniel Kim

Good for you! I live in LA as well because the lifestyle is so much better than FL but invest in central Florida for the prices and returns and work with other LA locals do the same. Tampa and Orlando is where I focus but Jacksonville has been very hot too.

If I can help in anyway, let me know. Have a good one!

-Brad

@Ramon Wilson I live in LA most of the year but won't touch the real estate. Not because I don't believe in LA, but because positive cash flow is my goal. 

LA is extremely desirable across the globe making property prices outrageous. Even with a market correction, LA real estate will continue to climb in the long run (unless there is a natural disaster.)

The downside is the negative cashflow you have to endure until the day you sell. If you're fine with that and in a position where you could lose your job and still pay your property's bills, it's a solid strategy.

For me, I like desirability, stability, and cashflow. That's why Tampa/Orlando makes sense for my risk tolerance and goals. 

We'll see what happens in the next 5-7 years, but history has a tendency to repeat itself. 

On August 15th, we will be gathering for our initial mixer from 530-730 to meet and discuss openly about the different ways and markets we invest in (or want to invest in) outside of NYC.

The venue is TBD but will most likely be around the West Village. *Suggestions and connections are welcome.

THERE IS ABSOLUTELY NO SELLING. 

New and seasoned investors welcome! 

Feel free to invite other interested friends and investors. 

To RSVP, visit the Meetup page: https://www.meetup.com/Out-of-State-Real-Estate-Investors-of-NYC/events/242222668/

*SPONSORSHIP OPPORTUNITIES AVAILABLE AS WELL

Hey New Yorkers! 

My name is Brad and I am an investor and Realtor in Florida. Much of the year I work with Californians looking to invest in the central Florida area.

Since so many NYers invest in Florida as well (go to a Tampa Bay Rays vs NY Yankee game in Tampa and it's 50%+ Yankee fans!), I am here expanding business and looking to partner with Realtors with clients and others interested in the Tampa/Orlando area to work with.

If you are looking for a resource to help you and your clients in central Florida, please connect with me. My time is limited this go around but would be happy to meet you for coffee for an hour and potentially begin a business relationship. 

-Brad

Hey @Jeremiah Lee 

What about using 150k as 25% down on a $600k 8-10 unit out of state? (assuming you have good credit). 

That way you're getting the cashflow, building equity, and gaining appreciation (depending on the market).

Welcome to Bigger Pockets @Jeff Petsche

BP is loaded with all the information you will need to succeed in whatever niche of real estate investing you wish to pursue and the community is filled with knowledgeable investors and professionals to learn from and connect with.

BP is what you make it. The more you put in, the more you will get out of it!

Listen to the podcast for extra inspiration and investing advice and post in the forum for any questions you have. Members here are really eager to help. We're all working to succeed together.

Also, check the "networking events" tab under "Community" and go out there and meet people. That's the way to build powerful relationships.

Like you, I am living in CA (Los Angeles), but I focus on investing out of state for the 2x+ cash flow and reasonable cost of real estate. 

I think if you're going to invest out of state, the criteria should be....

1) Numbers work for your goals

2) Market is stable and on the rise for the long term

3) You have some interest in going there (or at least wouldn't despise going there no matter what time of year) and/or have friends and family there for local support.

Florida is my state of choice.

If you have any questions about out of state investing and in the Florida market, connect with me and good luck on your journey!

- Brad

P.S. - Two of the best books you can read (and re-read) are Rich Dad, Poor Dad and The 4-Hour Workweek. Both have been mentioned numerous times by guests on the Bigger Pockets podcast and I have detailed notes to both books. If you would like a copy, just let me know and I'll send them over. (but it's still highly worth buying the books.)

Welcome to Bigger Pockets @Jeff Petsche

BP is loaded with all the information you will need to succeed in whatever niche of real estate investing you wish to pursue and the community is filled with knowledgeable investors and professionals to learn from and connect with.

BP is what you make it. The more you put in, the more you will get out of it!

Listen to the podcast for extra inspiration and investing advice and post in the forum for any questions you have. Members here are really eager to help. We're all working to succeed together.

Also, check the "networking events" tab under "Community" and go out there and meet people. That's the way to build powerful relationships.

Like you, I am living in CA (Los Angeles), but I focus on investing out of state for the 2x+ cash flow and reasonable cost of real estate. 

I think if you're going to invest out of state, the criteria should be....

1) Numbers work for your goals

2) Market is stable and on the rise for the long term

3) You have some interest in going there (or at least wouldn't despise going there no matter what time of year) and/or have friends and family there for local support.

Though it is scarier to invest out of state, I think it's far scarier losing money every month investing locally. 

My recommendation would be to research the areas that fit the top criteria and spend a week or so in the 2-3 that really interest you. Once you go once, you will feel so much more confident with investing there in the future....and with AirBnB, you can spend $1000 or so on a 4-6 day trip almost anywhere. That's a drop in a bucket for what you will save and make investing correctly.

Schedule as many meetings with local investors and other professionals as possible and go during the time where you can attend a REIA and start putting a potential team together. Hope that helps.

Florida is my state of choice. If you have any questions about out of state investing and in the Florida market, connect with me and good luck on your journey!

- Brad

P.S. - Two of the best books you can read (and re-read) are Rich Dad, Poor Dad and The 4-Hour Workweek. Both have been mentioned numerous times by guests on the Bigger Pockets podcast and I have detailed notes to both books. If you would like a copy, just let me know and I'll send them over. (but it's still highly worth buying the books.)

Hey BP Nation! I have a client that has been preapproved for a 2-4 unit up to $400k and she is ready to move on a solid deal! In fact, she needs to purchase within a week or so.

Basically, the property that we were under contract with had far less revenue coming in that originally thought so we had to back out.

Here are the parameters:

1) Must work for conventional financing and appraise

2) Hillsborough/Pinellas County

3) B - C area, nothing Bad

4) property must be in pretty good shape, nothing major

5) needs to cashflow $300 or so per month after financing, 10% management, taxes, insurance, 10% for vacancy and repairs

If you hear of anything let me know asap. Thanks -Brad

Sounds good @Brian Wilson Let me know!

Welcome to Bigger Pockets @Brian Wilson

BP is loaded with all the information you will need to succeed in whatever niche of real estate investing you wish to pursue and the community is filled with knowledgeable investors and professionals to learn from and connect with.

BP is what you make it. The more you put in, the more you will get out of it!

Listen to the podcast for extra inspiration and investing advice and post in the forum for any questions you have. Members here are really eager to help. We're all working to succeed together.

Also, check the "networking events" tab under "Community" and go out there and meet people. That's the way to build powerful relationships.

Like you, I am living in CA (Los Angeles), but I focus on investing out of state for the 3x cash flow and reasonable cost of real estate. Florida is my state of choice.

If you have any questions about out of state investing and in the Florida market, connect with me and good luck on your journey!

- Brad

P.S. - Two of the best books you can read (and re-read) are Rich Dad, Poor Dad and The 4-Hour Workweek. Both have been mentioned numerous times by guests on the Bigger Pockets podcast and I have detailed notes to both books. If you would like a copy, just let me know and I'll send them over. (but it's still highly worth buying the books.)