All Forum Posts by: David Cruz

Lower appreciation for higher cash flows *

Definitely trading higher cash flows for lower appreciation for properties in the 50K realm. But, that's not a bad thing necessarily.. You can get your return back quicker and should the market continue in the direction it is going now, in a few years you will still have enough appreciation to make a very good profit on a buy and hold sold retail.

Today I set up a time to sign a contract with a guy for a property we had been negotiating since Wednesday. He kept pushing the meeting back and then finally put me on the phone with his uncle, a supposed "realtor" who told me to email the contract so he could pass it by his private money lender for approval. The deal was supposed to be done today. He never mentioned this lender before and has me speaking to third parties now. I'm ok with the hard money, but I'm not okay with him being sketchy about the situation. Do you think he is a legit buyer? Maybe he is just trying to buy time in the deal? Any reason I should be concerned about him not being legit?

What exactly do you want to know? I grew up south if gandy and know the area well...

Hey Thomas, good to see someone else here in the Tampa area. Just wanted to introduce myself. I buy and sell properties in the area as well.

My mentor has 11 LLCs just as an example.

Purchasing an LLC is great for reducing liability ( if someone sues you because of something over a property in your LLC, they can't touch assets outside of that LLC). Multiple LLC's is good for multiple properties for the same reason. I would suggest having only 2-3 properties in each LLC to minimize liability. It's a safety net. And an LLC is only 150 bucks.

I have some deals you would be interested in. I've noticed people are finding it very difficult to find good deals in the area, but I find a few good ones a month.

There's not a huge difference, but that's definitely the general consensus on buying and selling in Tampa and St Pete

Best time to acquire is the summer because it is cheapest but best time to sell is in the fall to the spring because that's when the snowbirds and northerners with students down here in school look for homes to buy retail. So you will get more for your home in the fall, winter, and spring and get better deals in the summer.