All Forum Posts by: Caleb Drake

Please come and attend the first Pints & Properties in Fort Walton Beach. I will be speaking on how to calculate cashflow for both long and short term rentals.

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Quote from @Kevin Pillow:

@Caleb Drake My listing just went under contract after about 14 days on market. Only 5 showings spread out over that time and the offer came in below asking but the amount of equity the sellers netted made sense instead of waiting for another buyer. A bird in the hand is worth two in the bush situation. So definitely a slowdown on buyer demand compared to 6 months ago. I think it’s a mix of seasonality and general market conditions.

Yeah dude... Five listings right now and one more coming onboard next week (5/6 are flips). One under contract 8% below asking (it was priced at the top of the market) but I am double ending it and it's a flip I own...so, like you just said, the same scenario applied and I took the deal. One we put under contract before the rehab was done (3/1 in East Hill with an ADU), and three more sitting on the market anywhere from 10-24 days total. We had a couple low ball offers on one rehab and then the other went under contract on FHA but didn't meet the 90-day rule (FML).

What sucks is all of these would have hit the market two months ago if the GCs would have been on time. Reliable GCs in the Pensacola area are really hard to find (see my original post... one reason why no one is going to give up their good GCs in the current market).

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Quote from @Kevin Pillow:

Quote from @Caleb Drake:

I doubt anyone on here is going to give up their GCs, especially if they are avid flippers and trying to keep their GCs busy. But, the best advice I can give you is to get on the FB pages for Pensacola General Contractors (just search it) post your job and start interviewing contractors.

Smart advice from one of the best in the area!

Now if we could just get these flips off the market. You seeing a slowdown over your way @Kevin Pillow?

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Quote from @Alexei Semenov:

Hi! I have a good opportunity to invest in West Pensacola on a Mobile Hwy…, 20 distressed units…, but really don’t know the area !

Can any one please help me to understand if the West Pensacola is a good area to invest…( I know I have to fly or drive there to see in my own eyes)?!

I’m just making my first list of Pros and Cons in that area!!

Thank you all for any help!!🙏

Give me a call if you wanna chat about W Pensacola. I think I know the units you are talking about.

1 Vote

I’ll give you a call in about thirty :)

Quote from @Skye Penland:

Hey Everyone,

my wife and I are ready to jump in and attempt a BRRRR. We have, and do own other real estate but have purchased through traditional means. We currently have approx $150,000 cash on hand to purchase and rehab a property. We are looking in Pensacola and we're hoping to connect with some local investors, agents etc.

Let’s connect!
Skye

1 Vote

Quote from @Kevin Pillow:

@Caleb Drake might be able to give you some recommendations. He’s pretty active with flips in the area.

Go to the Pensacola contractors FB page and post what you need. You’ll get 5-10 contractors for each issue.

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Enjoy some brews with us and take advantage of a great networking opportunity. Free and open to the public! The meetup was designed to build a community of like-minded people, motivated to crush it in real estate. We collaborate over beers, share knowledge, and network with those on a similar path, while expanding our knowledge base together.

Not stuffy, zero sales pitch, and good vibes only.

WHEN: Sunday June 26, 2022 at 1:00pm

LOCATION: Gulf Coast Brewery

GUEST SPEAKER: Billy Jankowski

TOPIC: "Managing and Communicating with Contractors During Rehab Projects"

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All Forum Posts by: Caleb Drake

Caleb Drake has started 42 posts and replied 178 times.

Post: Pints and Properties Investor Meetup

Post: Pints and Properties Investor Meetup

Post: Pensacola General Contractor

Post: Pensacola General Contractor

Post: Pensacola General Contractor

Post: Investing in Pensacola FL

Post: Pensacola, agent needed cash ready!

Post: Pints & Properties Pensacola

Post: Looking for Recommendations - Pensacola, FL contractors

Post: Pints and Properties Investor Meet Up