All Forum Posts by: Carl Talley

While I am getting ready to make my first investment and don't have the experience many others have, I am going to throw my two cents in and you can take it for what it is worth. I noticed that you are in St. Pete, FL. I am a born and raised in the Tampa area. Now one thing that about Florida is that we have hurricane's. Remember 2004?  Due to those hurricanes, I recommend having almost twice the cost of a roof saved. Again that is just my thoughts.

@Nick Rutkowski Thank you for your response. I should have been more clear in the description of my situation. I currently own a large track of land free and clear. I believe that I can leverage that property for $126K to $157K. So If I am able to get that cash on a 30 year loan at say 6%, I would have to make a payment of $760 to $950. I want to use that cash to purchase cash flowing properties, preferably multifamily. As far as turnkey or distressed, I would prefer to have the properties needing minimal work. I would like to keep some of the cash as a reserve for any unexpected problems. I was wondering how others might invest. Would you use the cash to purchase properties for cash, or get other mortgages/loans.  

@Michael Coiffman,

Welcome to BP, and best of luck.

I am almost ready to purchase my first rental. The way I am doing this is by putting a mortgage or ELOC on a piece of property. I believe that I should be able to get between $126K to $157K. Now here is the question, would you use this cash as a down payment and buy multiple homes, or buy one or possibly two homes for cash? and how would you pay off the original load and grow the investment?

What I would like to do is have about 30 properties at 25 to 50 acres. This way I would be able to get a harvest every year.

I am currently looking at about 70 acres, but it's land locked and a forester that I am talking with has warned me that the land in this area could be difficult getting a clean title. Apparently after the civil war people just setup homes took over the property. So clear cutting the whole property would get an est. 30k. I forgot to ask if that was after replanting. So I don't think that I am going to go after these lots. I am going to continue to look.

Graham did you have any luck?

Hello Robert, I am currently looking for similar deals, tracks of timber land that has mature timber growing on it. My grandfather did this with about 200 acres. Just to though my two cents in, there are a couple of extra ways to cash flow on the acreage which I am planning on tiring when I find a good property.

1) If the property is large enough and has a great view/river/mountain build a small cabin that can be rented out for vacation. With a good management company it could be rented out for about $100 per night. Admittedly you would be lucky to get half of that after all cost. Or just do the normal monthly rental (This is what my grandfather did.) Now the rent he charges is next to nothing, but the renter pays for almost all repairs on the house and watches over the property. The rental income is enough to pay the property taxes.

2) Hunting and fishing club leases. Lease out the hunting rights on the property. I believe that for the 200 acres my grandfather is getting nearly $1500/yr. He does require that the club have and proof of insurance.

I am in need of advice on dealing with a some property that I own with my mother and brother. I own 50% of the property that is currently being used as a Tree farm, and hunting. I want to use my portion as collateral to buy some rentals. Do I have to divide the property so that only my name is on the deed (which I and trying to get my brother on-board with) to protect their interests, or can I just use it with their names still on the deed. Any thoughts and suggestions would be appreciated.

https://docs.google.com/spreadsheets/d/1amuBWBzyNB...

@Edger Rodriguez 

Working on a new one that incorporates utilities, capital expenditure, and other things. Let me know if you like and what would make it better. 

My numbers agree with @Egar Rodriguez.  Before I found BP, I created a spreadsheet that I can plugin the numbers and it looks like about $259 cash flow without water cost or property management.  I am missing those in my calculator, have to add that in lol. 

If interested, I could share my calculator. Just let me know. 

Carl Talley