All Forum Posts by: Brent Olsen

Hello Brent, I work in the Clearwater/Tampa market. I do have access to MLS listings down to Cape Coral. I'd be happy to see what's available, since February is 2 months away, some properties that are available now, will likely be gone. There maybe new properties hitting the market, so I could set it up on an auto email alert. Let me know if I can help you. Hit the connect with me, I'll send you my contact information.

Thanks,

Brian Beatty Century 21 Affiliated

Tampa and Cape Coral are over two hours apart, and are not really even part of the same real estate market. Most agents in the Tampa/St Pete area do not even have access to the MLS in Cape Coral, and vice versa.

It may help to narrow your focus, and/or look for separate agents in the specific markets you are interested in.

I've received my 1099-DIV form for 2017 and have reached out to Fundrise to help explain what they're doing. The distributions gave me cause for concern. The Growth eREIT distributions in 2017 were 91% return of capital after reporting over 50% return of capital on the 2016 distributions. The East Cost eREIT was 43% and the Heartland eREIT was 38% return of capital in 2017. I'm concerned Fundrise is attempting to inflate the yield of the eREITs due to lack of income generated distributions in the form of dividends or capital gains? Maybe it's just a tax deferment strategy that they didn't make clear...?

I have yet to hear back from them. Has anyone else noticed this or know how to explain it? 

@Jason Gines - I have to say this has been informative. I have been reading, listening to podcasts and running numbers for awhile in anticipation of buying my first buy and hold single family rental, the profits are not always there on roofstock but run the numbers do diligence and see what numbers can make it work, sometimes it's about appreciation instead of cash flow, which alot of ppl will argue is not a good way to go but for a few it might be what they're looking for, Roofstock seems to be aware though that cash flow is more desired among b & h investors especially the bigger pockets crowd. One thing I've learned that although the metrics on Roofstock is impressive, I love their interface and ways to manipulate the numbers, the neighborhood ratings do not account for crime rates, I'm not faulting them, I believe Zach has said that in podcasts and props to him for so proactively keeping up on these forum threads. But something us new ppl want to take into account. Now if only a property I'm comfortable with would come along with decent enough numbers that I can bid on but not get outbid, and in a market I like (NC, GA, Austin, etc)  that would be grand... lol

Hi Lynn,

My business only services Tampa but I wanted to reach out and let you know about us anyways. Had your property been in Tampa I would be exactly what you are looking for. If you ever find yourself looking for an investment property in my area or maybe just advice on managing a STR in Florida, feel free to reach out! Best of luck down there!

V/r

Jared Higginbotham

CEO & Co-Founder

Teal Door Hosting

@Vivek Khoche, I'm upfront about my investing experience.  If you do not agree with something I'm saying, then share your own experiences or knowledge to better inform us.   Thank you for sharing those links, but I'm not quite sure how they apply to the exchange @Brent Olsen and I were having.

@Brent Olsen, if the numbers don't work then pass.  I cannot speak for other markets, but their current batch of Atlanta properties, the numbers just won't come close to working based on what they are asking.  I've made offers that would make the numbers work for me, but they've all been rejected.  That was when I decided to use the agent through the property management company.   But then again, even on a bunch of properties through the agent that I made offers on, people are picking up some of these properties at asking price or getting into bidding wars that I wanted no part of, so it may just be getting harder to find properties where the numbers work in certain markets.  And also I recommend checking the taxes that they use for their estimates.  I found that the numbers on Roofstock don't always accurately reflect what is being listed on the county's website.

@Brent Olsen, I had closed on that first Roofstock property several months back and have had no issues of significance with it since closing and you can see any issues I faced during the process in the case study.  From start to finish the second one moved very smoothly with Roofstock.  The insurance issue...well I don't know what the deal with that mess up was but that isn't within the control of Roofstock.  Remember that you can get insurance from a different provider, you don't have to use Roofstock's approved vendors.  I chose and stuck with their preferred vendors because it made my life much easier overall since I was new to purchasing out of state investment properties and wanted to keep it as simple as possible.