All Forum Posts by: Derek Cespedes

@Travis Watts awesome Travis! Thanks for the feedback.

Hello BP,

I’m currently looking to gain some knowledge on the south Florida market when it comes to multi family investing. Are there any recommendations or pointers when investing in south Florida. What are the opportunity zones and is there areas that seem to perform better than others based off demographics.

Would love to hear any advice or stories of completed multi family investing. Anything helps. Thanks.

@Tasbeeh Corporan-Francois hello welcome to BP. Pretty much everywhere in south Florida is increasing its productivity rate. Everyday more and more construction is being done. It’s getting expensive and market values are rising rapidly with all the rehab jobs that are being done.

Another key factor is the US biggest mall is being built in south Florida and should be completed by 2025. I don’t think I need to mention that, that alone will increase jobs and the market as well. Now is a perfect time to purchase a duplex, triplex, quadriplex or any multifamily for that part.

Although you must do your due diligence before taking someone’s word just know I’ve been living in south Florida for a very long time and understand that I’ve seen the market go from bad to good in a very lengthy time.

Good luck on your endeavors!

@Paul Welden well said. I’m going to consider this loan for my first duplex purchase.

Hello BP, I need better understanding of investing into a lot or commercial building for a detail car wash business. The business I am partnered in is definitely and undeniably one of Miami's hottest mobil detailing businesses currently. The name is Tropical Breeze Auto Spa. The mobil detailers take care of several Miami Dolphin, Miami Heat, and local celebrity's in the greater Miami area. As much success as the business has had we are looking to opening a location where we can just have clients come to us instead of going to them. We have expanded from one truck to now two trucks and we are about to wrap the second truck with the company logo. The first truck is branded already with the logo. The business idea at first was to go to your home, business or job and take care of your vehicle while you continue your day. That has been a major success to our business but now we want to open a location. 

Fast forwarding now.. should we consider finding a vacant lot and building the car wash center using a loan? Are there investors out there that have knowledge of opening a detail car wash? Not really sure who is out there with experience in this market but anything helps. If there are investors out there who would like to partner up or just give some advice please you are welcomed.  
 

Hello BP are there any lenders who work with the 203K loan who have actually issued one of these to an investor? If you are out there and have experience with 203k loan and how it worked out can you please share some experience. Also if you're an investor who has used a 203k loan can you please add some insight as well. thanks!

@Frank Maratta today I've spent nearly 8 hours going over BRRRR method. Awesome method and fairly simple to execute just need the right deal and numbers ahead of going all in. Now 15% is amazing man. You're definitely on the right path. I'm still searching for those returns on cash on cash investments out here in south Florida.

@Scott Runyan greatly appreciate the feedback Scott I’ll look into that. As stated knowing these numbers makes you very savvy and eliminates properties that just aren’t hitting the numbers you need.

@Tj Hines exactly my thoughts. But those cash on cash returns if 20% in South Florida is like finding a needle in a hay stack. Or just a distressed seller who has to leave due to auctions. As I’m getting more experience in wholesaling I’m starting to see the numbers have to make sense.

@Vincent McClendon Vincent thanks for the feedback. Yeah if you want to send an example over to my email anything helps. I’ll definitely look into that. I’ll send you a direct message.