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All Forum Posts by: Charles Soper

Charles Soper has started 15 posts and replied 247 times.

Post: Florida multi family investor

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175

Hey @Bernard Sanga, sounds like you have the classic successful professional problem, plenty of cash but no time.  Awesome that you are taking time to educate yourself, it's addicting, right!?  As @Andrew Varney mentioned there is a Sarasota REIA that meets Wednesdays @ noon and a Bradenton REIA that meets Tuesdays @ noon at the Bradenton Yacht Club in Palmetto.

Post: Is 10% CAP too much to ask?

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175

Short of literal swamp land, just about all of Florida’s RE is super hot right now,  that said, a 10 cap is going to be tough to find unless you’re willing to go to tertiary markets (really small towns) or into C class or war zone areas.

That said if you know you’re coming for sure maybe it’s worth a trip down to do nothing but network with local investors and possibly agents and commercial brokers.

Post: Seperating water meter for a duplex

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175

Hey @Luis Valdez, a little light on information here.  Are the units separately plumbed and just happen to be on a common meter or do you need to repipe for each unit?  That alone will significantly impact your cost.  I can't speak for NJ but hear in Florida it's a matter of getting with the water utility to check their costs and then getting a quote from the meter into the structure.

Post: Multifamily with a pool and waterfront view

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175

@Carter Anderson unless you're a pool guy, I would recommend calling a local shop and inquiring about the annual maintenance contract for such an amenity.  Additionally, you need to check with your insurance company and see what the pool adds to your annual premium.  If it were me I'd either skip this property or fill in the pool and put in some grass or maybe a covered sitting/picnic area.

Too much hassle/expense/liability for such a small asset.

Post: Looking to Meet Investors St. Petersburg/Sarasota

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175
Originally posted by @Colin Russell:

@Charles Soper Thank you for the information ! How long do these events run ? I would be spending my lunch break attending so I wouldn't be able to spend very much time.

Lunch/Networking starts 11:45 ish and the meeting/presentation starts 12:30 ish.  Bradenton usually runs longer than Sarasota but they both end around 2pm give or take.  I would encourage you to attend even if it's just for the networking and to start introducing yourself to other investors and get your feet wet in the area.

Post: Duplex Pricing on the MLS

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175

Off market, off market, off market...

Network, network, network...

Gotta get out the door and find places to network with other investors and places people with similar interests congregate. Find your local REIA's, search for wholesalers, build relationships and make your needs known and you will find a deal that fits your criteria.

Post: Looking to Meet Investors St. Petersburg/Sarasota

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175

Hey @Colin Russell, welcome to BP!

In the Bradenton area there is a weekly REIA meeting at the Bradenton Yacht Club on Tuesdays @ Noon, you can find that one on meetup.com here

In Sarasota the REIA meets on Wednesday's at noon, you can find the info on that one at sarasotareia.com

Post: Multi Family & Electric Vehicles

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175

A 20 second google search revealed this: https://info.chargepoint.com/ev-charging-apartment...

I suspect @Greg Scully is right about the adoption of the tech on multi-family and commercial properties.  I'd guess that no owner is going to want to absorb that cost and the company above looks like they have that addressed.  Right now it's an amenity that most won't use but eventually it may be substantially more common-place, thus I don't see it being included in the rents across the board for a given property.

Post: Next step in the process?

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175

Still do, it’s turned into more of a friendship than a business relationship at this point though.  You’ll find real estate is a team sport as you spend time around like minded individuals.

Post: Next step in the process?

Charles Soper
Pro Member
Posted
  • Rental Property Investor
  • Tehachapi, CA
  • Posts 252
  • Votes 175

I find one of the best ways to find HML's and community bankers is through your local REIA or meetups. My 1st HML I met through a local REIA and he funded 100% of my purchase price (I had to bring the rehab and closing costs)! Community banks are happy to talk with you, you are a potential customer, don't look at it as wasting anybody's time. Be up front about your experience and if they're any good at sales they'll spend time with you and develop the relationship.

It sounds like @Joel Thompson is willing to spend a few minutes on the phone with you.