All Forum Posts by: Brian Johnson

I really like Lexington.  Lived in the area for 18 years.  I hear the market is picking up nicely in the area now.

@Account Closed what do you think about the idea of Lease Option To Buy?  Rent in a great area and if you want to buy the home you can.  If this sounds interesting contact me and I can give you the full details. I think it is a great idea for people relocating. 

I agree with @Ali Boone on this subject.  A turn key at $50,000 or below is high risk in the Tampa Bay area.  Perhaps outside in more rural area could be a opportunity.  I just started working with the property management of my brokerage and I am sure most have vendors setup to do all the work and give repair estimates.   

@Carlos Rodrigues as stated you are in position to make a over state referral working with a agent on this deal. As suggested in this post.  My suggestion is to find the Counties you are thinking about investing in such as Hillsborough County, Poke County, or Orange County for example.  Then get in touch with a couple Property Management companies to see what they have to offer to assist you on finding you the property and making the needed repairs.  

Good luck!

 I live and work in the Carrollwood area and often work in the Seminole Heights area.  Those 2 areas are very different.  Seminole heights is very hot for flipping right now.  Which you can find some rentals that could work but finding a deal and trying to out bid a all cash buyer that intend to flip also could be a issue.  Not to say it can't be done.  

Carrrollwood is also another good area or I would say on the edges or just the outskirts can be good investment area. My first thought would be Carrollwood Meadows.  I have been working the area and it has a good mix of home owners and renters.  The problem is not a lot of homes for sale in the area.  I have been door knocking looking for sellers and have yet to find a deal.  Not to say it can't be done. That area I would be more in a B area.  I am not sure I would put Carrollwood as a C+ area. 

Let me know when you find your contractor.  I would like to know how you found and how it turned out.  If the flip is in Tampa I would love to take some photos and promote it for free on my Facebook. 

 Hello Gabriel,

If you want to know anything about Kentucky I can help answer your questions regarding the city of Lexington.  I still own 5 rentals in the great city of Lexington.  I also know about the market in Tampa Florida.  The 2 states have very different markets so it all depends on what investment will you be comfortable in.

OH man!  I am a dollar short and a day late!  I just read this and the meeting was yesterday. Looks like I dropped the ball on staying connected. 

The office I work in has a focus area for foreign investors interest in buying in Florida.  They are up to date on the process for non US investors.  Contact me and I can get you connected. 

This is a good topic. I agree with some and disagree with a few. My past experience in buying rentals are the MLS is a great source! The reason is anything on the MLS are people wanting to sell. The other option is looking for off market or never been listed. That takes a lot of effort trying to figure out which random person will sell at a discounted price. Needle in haystack approach.

From my experience is if you want the good deal you have to buy the distressed property.  The more distress the greater discount.  You also have to have a realistic number for the repair cost.  I have been buying distressed homes for over10 years and most of the work I do myself.  So that saves me a lot of $$$.  Another thing that really impacts your total cost is your financing.  (If you are a all cash buyer for a buy and hold rental then you are doing it wrong!)  Every financial institute  is different.  So shop around and see what they have to offer.  

That is my $.02

@Joel Zentkovich Welcome to BP and you found the right forum to help you along the way!  Starting in wholesale is one way to refine your skills.  Another is to just get out and do some digging for areas that would be good for your price range.   Take for example Seminole Heights in Tampa is very hot for flipping.  I have to admit I was very drawn to the area and really like the quirky mood of the area.  Up and coming hipster area.  So as a real estate agent and wanting to do a flip myself.  I went door knocking and what I found along with a few listing presentations.  Was these old homes have some hazards that for myself do not want to get into.  Such as dealing with lead base paint and  asbestos in the walls.  I am a do it yourself kind of guy that has done many rehabs on my rental properties.  So for me I do not wish to deal with that.  Sure you can still buy homes for around or even under $100 per sq/ft and sell around $200 per sq/ft which is very nice!

Right now I am looking in 2 other areas that can be good but the buy in will be a bit larger because of the homes in these other areas are larger compared to Seminole Heights which the norm is around 1200 sq/ft homes.   I hope this was helpful.