All Forum Posts by: Dustin Fike

I'm headed over to Melbourne tomorrow morning from some other business.  I was thinking of driving around afterward to get a feel for the area. (Melbourne/Palm Bay maybe Rockledge or Cocoa)  @Dwayne Byrd, do you have a recommendation on any specific neighborhoods I should check out?

@Kim Meredith Hampton I am just starting out and trying to build a track record with smaller SFR/Duplex/Triplex type investments, but want to move into larger multifamily once I've got some history of success to show investors. I am interested in your Orlando group for multifamily investors. Is that something that I could join? Or is it still too early in my investing career?

@Priscilla Z.  Looks like I missed the latest meetup.  The next one should be April 19 at Tequila Accent.  Is that correct?

Since posting this, I have been trying to research and understand the soliciting rules are on this site.  Based on this post, I worry I may have made a faux pas by posting this question.  If one is not allowed to ask for vendor recommendations, how do you find out that information and get referrals?  Do you have to make connections first and then ask your connections via PM?  Or can you only discuss that kind of thing at local meetups?

Which local banks in the central Florida area are good to work with for portfolio loans and/or commercial loans for properties around Orlando greater area and space coast? I am just getting started, but am thinking that I could start my business checking/savings with a good local bank now so that later when I do need a portfolio or commercial loan, I already have a relationship and history with them. Any good experiences or recommendations?

What are some good neighborhoods to start looking at around central Florida for single family or duplex/triplex BRRRRs? What places around here should I be looking at to start out? I live in East Orlando / Avalon Park area. I went to high school in the Melbourne area and have family that lives in Brevard county. I am somewhat familiar with those areas, but I am just starting out in real estate, so do not have a handle on values yet.

I have heard Brandon say on the podcast many times for a new investor to "analyze a 100 deals" to get to know a market. I understand the premise of how to analyze a deal and run the numbers. However, where should one get those 100 deals? Is this something that can be pulled from zillow/trulia/etc? Or does this need to be real deals from deal funnels or wholesalers?

Also, how do you determine rehab costs when analyzing these 100 deals? Is it a $/SF placeholder? Try to guess from photos? Or does it matter? Is it sufficient to determine what the all-in price including offer and rehab costs would need to be to make a deal work? Then, when moving on to an actual deal, one could get more in depth estimates on the rehab before submitting an offer?

@Shawn McCormick, I just joined CFRI and I see that you are speaking at the next general meeting.  Looking forward to it.

@Tyler Gibson, thanks for the info.  I will look into the meetup.

@Chad Rocke, Thanks for the tips.  I'm looking to stay in central Florida for now, but I'll keep you in mind if I branch out that way once I start developing larger projects.

Thanks for the welcome @Shawn McCormick.  I am still working out the plan on how to get there.  Working my BHAG into my vivid vision. (Though I think it may take more than 3 years to get to my eventual goal.)  My first thoughts are to follow the advice in Joe Fairless's Best Ever Apartment Syndication Book to build up a bit of a track record of success with real estate before trying to get investors to trust me with their money.  To that end I was thinking about starting with a few SFRs or duplex/triplex first.  Luckily, before getting laid off, I already had my finances in order and had been saving up some capital to start investing with.  After doing a few existing building deals, I would then move on to finding land and designing a few duplex/triplex projects.  Once I've shown that I can manage a project, keep costs down and return a profit; I can then move on to something a little larger and approach investors.  I'm also open to partnering on some flips to learn with someone who has more experience.

Right now I am trying to build my team and network, get to know as many like minded people as I can.  I plan on joining CFRI today and looking for any local meetups.  Do you know of any good ones around Orlando or Brevard?

Hello, my name is Dustin. This may end up being a bit long. So, for those without the time to read it all, the TLDR: as an architect, I had a job I enjoyed, but recently laid off due to COVID economy. Been interested in real estate investing for a while and am now excited to jump in the deep end.

Now for a more proper introduction. I'm new to the BP Forums and to REI. I am a licensed architect, but I haven't been designing normal buildings for a while now. I started out in hospitality design: hotels, condos and such. However, for the last 12 years I've been designing theme park attractions for Disney and Universal. Most recently serving as the Senior Show Set Manager for Universal Creative's Core Studio where I oversaw the team that was responsible for all of the concept show set drawing packages for all new attractions for the various Universal theme parks around the world. I loved working for Universal, but the appetite for new attractions has dried up since COVID and without new attractions, there is no need for the designers who design them. I and many others at Universal Creative were laid off as a result.

I have been interested in real estate investing for a while now. I’ve been reading and listening to podcasts, but definitely was one to study and learn but not act. My job took up a lot of my time, and I used it as a crutch to excuse my inaction. I had a well-paying job that I enjoyed and I let that lull me into a sense of security and complacency. Getting laid off was actually the kick in the pants that I needed to get me moving towards financial independence.

My long term vision is to be designing/developing my own multi-family, mixed use, and/or commercial properties (through syndication or private debt); building a portfolio of rental properties that allows me to be financially free.

I find myself now trying to find the best path to get to that long term vision. I have a few ideas on how to plot that path and many questions, but I'll save those for other posts. I plan to be active on these forums as I search out my future. Thank you BiggerPockets community.