All Forum Posts by: Brandon Singer

@John C. Please let us know how this plays out after you meet him in person.

Hi Mike, I reside in Winter Garden, FL and make it up to the Ocala area a few times a year. Just curious what is your attraction to Ocala? I have seen Ocala pop up on a couple sites stating that it was a good investment area. Thanks!

From my research, the average price per unit on small multi family (<15) in the Daytona Beach area is anywhere from $50k - $60k depending on condition. 

I just put a property under contract In Daytona beach. I'm happy to share my ideas on the one you are looking at. Send me a PM

Hey Nick, Welcome to Orlando. I'm a fellow investor focusing on buy and hold. I live in Winter Garden. I just put my first deal under contract. I'm pretty stoked about it. Do a couple searches on BP and you will quickly a wholesaler or two in the area and many investor-friendly agents. I sourced my deal myself but hope to continue building relationships with these folks. Best of luck! Brandon

Thank you everyone for you valuable comments. Sorry I was not getting updates on this discussion. All the points were very well taken. I'm moving on a different property at this time but still waiting this one as an opportunity. 

I'm looking at a off market building in a suburb of Orlando. This is a thriving downtown area with many restaurants, bars and boutique shops. The building currently has a "hometown bar" and a liquor store. It has a second story that I'm interested in building loft apartments in. The building was originally built on 1920. How many loft do you think I can comfortably fit info 4050 sqft on the second floor? Any type of cost estimate for lofts? I'm just starting to explore this. I will soon find out how much the bar and liquor store are currently paying for rent and see if this is a worthwhile endeavor. I have commercial financing lined up for another deal I'm working on. I will hopefully take down one of them if the price is right but I would attempt to utilize owner financing on this as well. Comments and recommendations welcome.

Thanks for info Luke. I have received a scan of the current owners insurance  statement / bill. 

The loan is 20 year amortization with a 5 year rate lock. The rates adjusts after 5 years.

The owner said all of the tenants have been there for 2 years or longer. I will be viewing the original lease documents this week. Please elaborate on your comment about tenants being placed to boost the sale price. Is this a common practice?

All of the current tenants have been in place beyond their initial lease term and are now month-to-month. Is it a good idea to require a contract renewal right off the bat? I was thinking about offering a one-time opportunity for the tenants to renew at existing rates for 6 months. If they wanted to continue month-to-month, I would raise their rent by $50.