All Forum Posts by: Bishoy Girgis

@Adrian Orgill 907 908 912 919 967 968 are the endings of the vips in fort myer that are very strong IMO and from my experience (that being said its if you are investing using 200k plus the other vips you will find are for less then 200k but i find there short term returns generally not as good

Im an investor from canada mostly in the lee county but looking for new areas always and south/miami is of abit of interest, do you mind if i send you a colleague request?

Hey @Adrian Orgill   Fantastic place to invest (fort myers) but its much like miami which im sure you are very familiar with and many other places there are certain vip codes that you want to be in and certain ones that you want to stay out of as a fix and flip (crime, tenant quality etc...) so you really have to go down there and check it all out for yourself.

Hey @Stephen M. I cant speak for your area BUT I like to break everything down in singles to evaluate so 385 for the duplex means 190k for a single at a rent of 2350/2 so your rent is 1150 roughly

SO if you had a house for 195k renting for 1150 would you be interested?? probably not as thats no where near the 1% rule and probably not that good of an investment...So your numbers are right no worries there but that property with those numbers not so great

also never buy a house cash flowing negative hoping to reverse it or banking on appreciation (that should be a sweet bonus but not your main goal) 

Your probably not looking in an area thats strong enough to make investments in (probably really really good neigbourhood or something like that)

Goodluck hope you find something

Hey @Marilou Rey are you trying to whole sale or buy and hold or buy rental property ?? what exactly are you interested in?

Hey @Tina Rawlins First of all you want to focus on areas where prices are already strong so that when you get a discounted price on a property you are able to fix it up and list it knowing that it will sell if you get what i mean. Second of all you will want to get familiar with prices of new kitchens/remodelling as well as bathrooms and floors (those are the biggies) you might want to learn also simple plumbing stuff and understand costs of electrical repairs (but you will learn this as you go through so dont be to hard on yourself if you dont know everything). Make sure when you set your budget to increase it (if you estimate it'll cost you 20k to repair budget for 25k) you also might want to decrease the area you are looking at, the more specific the better cause then you get a really strong grip on a certain area and are able to analyze it quickly to make a move on it 

If you got any other questions, let me know by tagging me or sending me a PM 

Best of luck

   Most likely the houses you are painting aren't good investments because they were bought originally by an investor for a good price and then putting in money (paint as an example) and then will sell to someone who wants to live in the house and hence is able to hit market value (this is just generally speaking) 

@Ugin Rapoport Hey man, hotel condos are a tricky thing (i wouldn't recommend it the people caking are the owners of the whole project and one of there easiest incentives is offering financing themselves to you)

So usually due to there desirable locations they are wayyy over priced....on top of that the HOA fees become very heavy if you are not able to rent it out and are subject to rising if the hotel adds amenities or anything of that such and of course not living there (gotta account for vacancy), Secondly the hotel is usually almost ALWAYS selling units (the ones that i've seen in miami and orlando) so when you eventually want to sell you end up competing with them and most likely wont win because customers looking for that type of property aren't in abundance (the fees push most ppl) If you are looking for perhaps at minimal result with next to nothing effort of results of around 2% annually then maybe its alright but other then that....i totally would not encourage (Just my opinion so dont hate me for it lol)

@Account Closed Hey man first of all congrats on that it must have been crazy getting everything set up with 49 units....

First of all that EXTRA cash flow of 13315 is RIDICULOUSLY amazing, you paid 1.6m for 49 units making each unit roughly 32k...I dont know how many are vacant and all but that 13315 assuming its all rented it means about 280 bucks profit after PM is paid and mortgage paid... so now i ask you does (all toys) mean you are putting money away for vacancy/maintenance etc..... or not Because if not then youll probably need to use at leasssstttt half probably 2/3 of that when you do fall into something of that sort that which would result in your actual profit being about 12.5% BUT if you already are doing all that and this 13k is ONLY your return WOW man absolutely fantastic dont think many people at all are able to hit that

@John Brogan as ridiculous as this sounds (ive been in a similar position) you seem to be a successful business man with a very healthy buisness (im guessing you have a couple friends that have a few bucks borrow from them and give them a nice 10g slice of cake when its all done for the help) 

Goodluck

@Erica W. Could say that you need money so you plan on renovating and selling the property