All Forum Posts by: Bob Razler

Hello:

As I proceed down my learning path, and as I continue to analyze deals, make offers, get rejected, feel sadness.....lather-rinse-repeat....I was intrigued by SDIRA's.

I have a rollover IRA with enough money in it to fund several purchases (25% down payments anyway). So far it appears that the best way to tap this source of financing would be to move the money into a SDIRA which would then invest in an LLC I create.

I am still investigating that avenue but one of the first steps would be getting the money out of the current institution, which does not provide SDIRA's, and into one that does SDIRAs.

Does anyone have any experience with financial institutions that provide SDIRA's? Any recommendations?

Thank you,

Bob

Sorry......wrong forum.

Kindly Delete.

Hello:

One other option, if you are happy with the original lease, would be to just sign a 1 page extension of THAT lease which fully incorporates all it's terms and conditions but notes the new term and rent.

Bob

Hello:

That's great to hear and understandable @Douglas Mack.

While Boca is nice, it is busy and denser.  Same for FTL.

Melbourne/Palm Bay/Cocoa is nice too.  I think you will find it a lot like Naples/Ft. Myers (just the sun comes up on the water rather then setting on it).  It is certainly not like Boca.

When you come to Jupiter I highly recommend visiting Juno Beach and Palm Beach Gardens.  They are both adjacent to Jupiter.

Jupiter and Juno have dog friendly beaches (if you have a dog with you) and Juno Beach is a big sea turtle nesting area.  You should see some nests on the beach. 

Jupiter and West Palm have lots of activities.

The Washington Nationals and Huston Astros have a new minor league park in West Palm (45th and Military) and the St. Louis Cardinals and Marlins are in Jupiter.  The Met's are in Port St. Lucie as well.

There great theaters everywhere (Kravis in West Plam, etc.).

There is a great mall in PBG (The Gardens Mall on PGA near 95).

If you are here for lunch, I recommend:

https://www.guanabanas.com/

Breakfast:

http://www.junobeachcafe.com/

I have not attended the Tropical REIA yet, but I will be for sure. It's the closest to me.

If you have any questions while you are here, feel free to reach out to me.

Enjoy!

Bob

Hello @Douglas Mack and congrats on moving to paradise!

Of all the area's you listed I will cast my vote for Jupiter or Boca/Parkland since those are where I call home and work.

Jupiter/Palm Beach Gardens/Juno Beach is a great area and it's still "up and coming" if you ask me.  Not too crowded and very much Florida.

Boca is forever popular and a great place.

Parkland is a HOT market.  New home communities are going strong out there.  It is always rated as one of the BEST places to live in the state on stats like schools and crime.  My only downer is that it's "way out west" compared to other communities here.  That is a PRO for some people.  I like being able to get to the beach in 2 min for a walk.

Back to the actual question you asked, I second @Mitchell Jaworski on the REIA in Boynton that he listed. When I got here I researched them and found that one near me. I will be joining them and attending their events for sure!

If you decide on our area, please feel free to reach out with questions or if you want info on great local communities to look for a home.

Best of luck!

Bob

Welcome and congrats on your decision!  

Great!  Thank you!

Thank you @Ellis San Jose.

I looked at a triplex and a duplex this week.  While I would be occupying one of the units, I analyzed as if they were fully rented since that is my ultimate plan.

Thank you @Thomas S.  I appreciate the feedback.

Hello:

First off, thank you to everyone who pitches in here.  It's a great community and a great resource.  I hope one day I can contribute at the level that I partake.

I am just starting off and I have been analyzing multifamily deals (using the tools here).  One issue I am finding is that I have what I feel are great estimates of the expenses, income and a good cash flow for these homes, but they all come out with a negative cash flow when going by the 50% rule.  Back calculating to a new purchase price based on that rule leads to such a low offer that I feel like I might ruin a good relationship with an agent or seller even making the offer.

As you can imagine this leads to much angst on my part.  I think I found a great home, my numbers look good, 50% looks bad, I face self-doubt and decision lock.

I am not missing any expense CATAGORIES, so if I am understating them it would be in MAGNITUDE.

I am willing to assume that sellers have the properties listed at higher numbers just in case someone offers, but my revised offered would be 65-75% below the list price.

I would love to hear anyone's advice or comments.

Thank you!

Bob