All Forum Posts by: Eddie Gonzalez

Investment Info:

Single-family residence other investment in Hollywood.

Cash invested: $20,000

Hostel Style Short Term Rental

What made you interested in investing in this type of deal?

Cash Flow

How did you find this deal and how did you negotiate it?

MLS, vacant

How did you finance this deal?

Cash

How did you add value to the deal?

1 month TLC

Hello everyone, I’ll keep it short and sweet. I’m looking to connect with serious individuals in the local area all 3 counties of south Florida. Let’s go for coffee and talk about scaling, leverage, diversifying and maybe going down to one of my investment deals. If you are a realtor, rehabber, wholesaler, RE attorney, or even if you are looking to start let’s talk and see where you are heading, we might be going the same direction. I’m currently working on short term and long term rentals. Setting up a team to start controlling properties creatively for quick flips and I also want to get into container homes. Miami Dade, Broward and Palm Beach, looking forward! 

Hello everyone, I would like to put an offer for a 9,766 SqFt land lot in Ft Lauderdale. To build a new house

My guess is that I should call a contractor and get the price per square footage for new construction. Then somehow reverse engineer the numbers for my offer price. So price per SqFt of a new construction will be Repair costs then using properties ARV I would have to subtract so it makes sense the investment and the difference would be the offer for the land isn't it? This is just a guess... looking forward

Of course you have to be aware of the "Due on Sale" clause that's why there is ways to do it without transferring title until pay off

This is an owner financing deal. The loan will need to be kept in place. Reinstate the amount owe and continue to make monthly payments. They carry a note while you fix and make payments then... when the property is ready to put on the market and once you sale then he will transfer title and you profit 

@Fred Prophete sure, just sent you an inbox

 Hey Fred, my group has weekly meetings in Boca. Last night we were talking about strategies to pay off mortgages in accelerated ways. Tonight we are on multi families and commercial buildings

@Manny Del Val welcome to BP, I'm working on a shortsale right now. Lets connect

Being a fix and flip deal there is a higher rate of occupancy right now. But the area is a great rental area and once the units are available rents will go up. It can be a fix and flip or a fix and hold. Purchase at $1.140M with an ARV of $1.7M Are your associates and yourself up for a project like this? I could send you the rent rolls

From your experience is this a deal?

West Palm Beach FL

2 buildings with 14 units total, 2br/1bth

Needs fixing but you can still have Cash Flow in the process, they are located in West Palm Beach, close to i95, close to the beach, class C area

Asking: $1,150,000.00

After Repair Value (ARV) is $1,691.342

COMPS:

16 units, sold for $1,500,000 ($93,750/unit) (ALL 1 bedroom units)

18 units, sold for $1,620,000 ($90,000/unit) (ALL studios & 1 bedrooms)

Leases in place, all tenants are subsidized by a housing agency with documentation.

There is no rent on the market for less than $1,000/m

Price below $100k per unit and in great rental market, we expect this to go fast.