All Forum Posts by: Brent Wood

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $235,000
Cash invested: $35,000

Purchased my first rental property and turned it into a halfway house.

Making a few bucks AND changing lives along the way!

What made you interested in investing in this type of deal?

I have been wanting to open a halfway house for almost 4 years now and finally found a property that made sense to actually do it.

How did you find this deal and how did you negotiate it?

Originally I found the deal through a fellow realtor and tried to purchase it via seller financing at first. But then moved into a typical 30 year.

How did you finance this deal?

30 year investment loan

Lessons learned? Challenges?

Deal with a very unruly seller, who always feels like we are out to get him or take advantage of him. So that was extremely difficult and honestly annoying at some points.

Very good John, thank you so much. I totally agree. 

It's definitely a huge mess and hard to navigate. Trying to get creative to be able to land some deals! 

Thank you again for your response and explanation! 

Hello! 

I was hoping to connect with investors who have experience or ideas about investing in areas recently affected by a natural disaster. More specifically in my case, Hurricane Ian and the damage it had on Southwest Florida. Fort Myers, Naples, Bonita, Estero, Sanibel Island, Fort Myers Beach, Pine Island, Matlacha, etc. 

If anyone has had experience in finding distressed properties due to a storm, I would love to chat with you! 

Thank you on advance! 

I live in Fort Myers, FL, which was basically ground zero for the recent Hurricane Ian. 

The amount of damage and amount of properties effected is unbelievable when looking at it in its entirety. 

Does anyone have strategies of investing in markets after a major natural disaster? 

Hello fellow investors! 

I live in "ground zero" of Hurricane Ian and am finding a TON of properties for people who want to take their insurance money and run! 

They are selling them AS IS (obviously), but the property itself is still valuable. Especially on Sanibel Island, Fort Myers Beach, Bonita Beach, Pine Island, Matlacha, and more. 

Our biggest problem that we are facing is that if there is an Open Claim on a property that is up for sale, the new potential buyer cannot get HOI until that current open claim is resolved and dissolved. Which could take up to 12 months+ for some of these properties. I am trying to find creative ways to try and secure one of these distressed properties, but am running into problems with this insurance situation. 

Does anyone have experience investing after a natural disaster? What types of properties did you find most attractive and why? Did you have insurance issues?

Thank you so much for the advice! 

Hello SWFL real estate professionals, 

My title company is hosting a real estate professional happy hour on Saturday, Nov. 5th from 4p - 6p. This event is open to ANY real estate professional in our area! 

Hi Ryan, 

Nice to E-meet you! I wanted to suggest the possibility of looking into distressed property in my area, Southwest Florida. We have been greatly affected by Hurricane Ian and there are a ton of great deals and opportunities out there right now on property that have been damaged. There are many sellers here that are going to take their insurance payout and "run". So their property can be bought up for pennies at this time. Coastal properties, beach front, river front, etc. 

if you would like to further discuss with me about these opportunities, please feel free to message me and we can set something up.