All Forum Posts by: Daniel Miller

Hey Todd what other kind of deals are you interested in?

Hey Brent,

I lived in DC from 1996-2003. Great area and I loved living there. Look over in Pinellas County. I can help if your interested over here...tough market be picky buddy.

Charles Im interested PM me. Im curious about location, square footage and building material. Thanks, Dan

I have been in RE four years. I have done moderately well. I have been successful using only one type of RE investment strategy. I do residential and small commercial multi-family value add investments. My strategy is very simple. I try to purchase for $50 - $60 a square foot monthly, fix up the units, and then lease the units out for $1/SF monthly. If the big picture idea stays according to plan than the investment is always successful.

I am assuming that most experienced investors who run the numbers see how fantastic of a deal that is and how ridiculous of an expectation that is to have in today's market . And I realize that. The market has rebounded and that strategy has gone out the window. I can make my margins closer but I really have no desire to. 

Which leads to my question. With this lack of inventory, specifically in the value-add multi-family space, is anyone looking outside of real estate into other business at the moment.? I will have a 1031x coming up soon (selling a 4 unit) and do not really want to reinvest back into MF (and more generally real estate at all). Responses much appreciated. Thanks!

When mailing letter what kind of parameters are you using for your search?

Right now I would disagree with you. St. Petersburg is on fire and all rental properties with no deferred maintenance are moving quickly with cash offers. In general, you are correct. Right now is an anomaly. Out west you can move lower end multi-family that quickly in all market up and down swings? I did not know that.

@Jay Hinrichs Lastly and this is a very important point.. properties in the mid west and deep south are not as liquid as our west coast properties.. IE you just can't pop them on MLS and sell them in 30 days for all cash... In the mid west and deep south the marketing companies and turn key providers create market demand as opposed to market demand being made organically. And those that sell this will tell you if you buy one of these and need to sell in 2 to 5 years your probably going to write a check to sell it...

Excluding Florida's big three (Tampa, Miami, Orlando)

If anyone has any pocket listings for MF in the St. Petersburg area please reach out to me. I have a couple interested parties right now looking to spend up to $1M. 

Ive seen everything on MLS and Loopnet. Don't bother sending me anything that is public information. Ive already seen it.

Hoping to hear from more people in the area!

Hey Megan,

I am very familiar with Tampa, South of Kennedy, and Pinellas County. I am a MF investor. PM me if I can help in anyway. Good Luck!

Downtown St. Petersburg and South Tampa. Those are the places to be investing right now, if you can get a good deal. They are primed for appreciation.  Downtown St. Petersburg because people are discovering how absolutely beautiful and delightful of a city it is. It's really like a California city here on the east coast. Any house in the Plant school district will see appreciation quicker than houses outside of the district, in the Tampa area. Two areas seeing quick paced gentrification include Seminole Heights in Tampa and The Grand Central District (and surrounding residential properties off north of Central Ave in between 9th Street North and 28th Street North. 

If I was looking to invest in this area I would get to know the preceding areas well and understand the valuation process associated those areas.