All Forum Posts by: Frank Francone

I would highly recommend Jennifer Lee. She is definitely in tune with investors. frank Francone

Lynn m., going slightly off topic, how is the Raleigh mkt in terms of returns? It is supposed to be a fast growing area economically. Thanks

Christian, when you talk about the east side, are you talking about the "heights" areas or further east? Thanks

Jkisasonak, will be in Pittsburgh on thurs 5/16 and would like to attend your meeting if possible. Was unable to log in to the website you mentioned. Can you send me details for the meeting, thanks, Frank, [email protected]

I am under contract to buy a property for cash. I was hoping to create a new LLC and getting it financed at the same time as the closing, but it does not look possible. May have to pay cash to close and then refinance and put the property under the LLC at that time. Anyone has any advice on how I could accomplish this with as little pain ($$) as possible with title ins,. fees and other closing costs/? Thanks

Thank you all for the warm welcome! Joshua asked about why across the country. I was in Miami a couple of weeks ago on jean Norton mini weekend tour (not one of those multi $ks deals), just an intro to the area and local players (wholesales, agents,contractors Hal's etc.). I surmised very quickly that the rehabbing mkt her is not great (if I participated, I would have done it with a couple of other guys that are very experienced). But the buy and hold looks very good to me. I need income. In SF proper investing in multifamily will only yield a cap rate of 4-5%. In outlying areas of the SF Bay Area one might get up to 7%. Here I noticed that I could get 12% cap rates and with bank financing ROIs in the 30% range. Sure beats the 10 % I was getting on trust deed investments at home. I like Miami. It is the gateway to the Us for Latin America, and lots of europeans and asians flock here too. So that is the lengthy reply as to why across the country. I will hopefully find a good property manager and I will also have a reason to come to Florida from time to time. Frank

Hello, my name is Frank and I am from the San Francisco Bay Area and brand new to BP. Interested in acquiring some multifamily housing (fourplexes primarily, but will look at smaller or slightly bigger). Currently under contract to buy a SFR and a fourplex in Miami area. I would like to investigate the Orlando market and other areas where the price to rent ratio is favorable. But I do not want to be all over the country. The fourplex I am acquiring (fully and nicely rehabbed) has a cap rate of 12% and with financing on it the expected ROI would be very good. Will also selectively consider jv with others on rehabbing deals, very selectively. Looking for a good property manager in North Miami at this point.

Good topic about the fourplex. I am under contract to buy one in North Miami. The area is a little iffy but improving and slated for further development. The fourplex is fully rehabbed nicely. I know that finding a good property manager will be crucial to my success with this property. And I am currently actively seeking one. If anyone on this forum has any recommendations for me, I would appreciate it. Frank