All Forum Posts by: Darin A. Scavella Jr

Appreciation is dependent on the island. There are several "main" islands here in The Bahamas. The top 3 (based on population/ commerce/industries) are New Providence, Grand Bahama, and Abaco.

I'm on the island of Grand Bahama and appreciation is stagnant (at the moment). This is mainly due to the effects of hurricane Dorian followed by covid. However, there are major developments going on and I anticipate there will be a steady increase in appreciation on the island in the not too distant future.  One such development is an American medical school. They almost done with their 1st phase of a massive campus being built on Grand Bahama. With this, there will be faculty, the American/International medical students, and the auxilary jobs that will be as a result of this. And of course, all of these persons will need a place to live :-)! 

New Providence appreciates at a moderate rate and Abaco is a bit behind New providence in this regard.

Thank you for the investors you are about to send my way.

God bless you and have a great evening!

 Why do you say that?

My next step; meet with potential investors, give a presentation (if needed), do a joint partnership (or syndicate), and then get a property (ies) under my portfolio. 

 Good day. I pray all is well with you and your family.

I recently viewed a property here in the Bahamas. Here is a bit of information on it:

- solid b- property

- 22 units in total. All units are very big and spacious.

- six 2 bedrooms that are town house style the consist of two floors

- six one bedrooms

- 11 studios

- laundry room

- pool that has outdoor kitchen. Kitchen portion about 90% done

- the asset is on the canal with 200ft of dockage. Boater can be charged at least  $1.00 per linear feet of vessel. Dockage slips are not in yet but approved plans for them come with the asset.

- An added plus is the the entire place has hurricane impact windows ( a huge plus here)

- the asset is less than a 3 min drive to the beach 

- The asset is not 100% remodeled yet (about 85% done) but the ones that are, are lovely!  The units are remodeled with a designer flare (for example cedar in closets).

- Based on comparables in the area here is the type of rents you can  get:  two bedrooms $1800 to $2000 p/m, 1 bedroom $900 to $1200 p/m, studio $800 to $1000 p/m. Note ;the studios can be rented @ $125.00 per night

The asset is listed for $3,900,000.00

Hi Mark.

I'm in The Bahamas also (Grand Bahama). And I'm a R/E investor (multifamily, commercial, rental units, mainly 5-20 doors each). 

 I just recently did a rehab on Grand Bahama. It is a bit much and if you do not have a competent contractor, it will be a head ache. Depending on the location of the property, getting insurance my be difficult and/or very expensive. If you have a steady income stream, you may be able to get funding from a local bank but this can be difficult and can take a long time. 

If you have any questions, please feel free to ask.

Take care.

Darin 

 Nothing in the states. Born, raised and live in the Bahamas.

 Hi Kiera, I am investing in The Bahamas.

I truly appreciate all of the sound advice you guys gave.

Thank you.

 Jonathan, thank you for the reply.

5 - 20  door commercial properties is the type of mf  I will concentrate on ( b and c class). 

If I am syndicating, don't I need a deal ( and thus deals to anylize) in order to get the finance for said deal?

Good day everyone.

How does one go about getting brokers to send deals to analyze?  I am starting out and I have not purchased one multi family rental unit. 

My niche is 5-20 doors per. In order for me to properly analyse these, I would need  financials on said properties. So what does one do/ say in order to be taken serious and thus get what is needed.

At this point, I do not have an official business as yet ( but the logo etc are being worked on now).  Speaking of, we plan on calling the company " Redeem Properties". Does this resonate with you guys?

Thank you.

God bless you all.

 Anthony, I would love to be mentored by him! He is an excellent teacher and I love his humbleness. I have thought about it however, I did not pursue it. Have you?