All Forum Posts by: Elihu Bogan

Hi David Whitsett please PM me and we'll talk! I'm investing in Jax from out of state and would be interested in lending as well.

I think if you buy your house with no money down from the overdraft line, you won't have any equity in the property you buy. When you go to the bank for the HELOC, they will want to see that you have some ownership equity of the house, otherwise there is not much to lend on. Am I getting that right?

Hi Cathy - you said the other units were owner occupied right? I'm not sure if due diligence includes viewing the inside of homes not owned by the park. Obviously I'd listen to Frank's experience here, but I would think you're only entitled to inspect any park owned homes as well as the pad / hookups for the tenant-owned...let me know if I'm wrong!

@Alex Applebee How did things go? Would love to know if you were able to stick with your 6 week timeline and what surprises you encountered. We're looking to do something similar in the area.

@Alex Applebee Looks like a good opportunity from what I know in SB. We've looked (not too hard) for a good flip prospect in SB under $800k for months, haven't found anything nearly this...promising. :)

Good luck! I'll definitely be watching to see how it goes.

Hi @Dana Whicker thanks for the tip - I saw an article about that expansion here in case anyone else ends up looking for it.

@Account Closed Nope, that's why I said 'here's to NO fed rate increase'! I hope everyone had a small celebration.

@Eric Odum Thanks for the color on Jax, it's appreciated. Best of luck in Duval!

@Robert Curls I have family in both Jax and Tampa, so I'd be in both cities on a 'regular' basis (once or twice a year) and have an emergency support network if needed. Easier to get to know contractors, brokers. etc. I've heard great things about the mid-west, but I have almost no other excuse to visit, so I'd be much more absentee. You're not the first person to ask me this, though, so maybe I should consider broadening the net anyway.

Like most of the people I've read on BP, I'm looking for cashflow to justify the deal, with appreciation as icing. In general, I've been using a 1% rule to filter, as I haven't seen a 2%er I'd be comfortable owning.

@Rondi Frisch would love to be added to your mailings - please let me know what you need from me!

@Adrian Smude Thanks so much for the lead on @Eric Odum's podcasts! I've been through a bunch already, it's been really helpful.

@Mark Nolan thanks for the link! I knew there was a starting page somewhere, just didn't know where exactly.

@Justin Stamper's podcasts were that Miami and Orlando are the big growth markets, Tampa is #3 with disappointing macro stats in the last year, and Jacksonville is still an afterthought but has shown good numbers recently. I've got family in Jax and Tampa so those are my markets for out-of-state investing, and since 'cashflow is king' here, I'm thinking Jax's underdog reputation should help me avoid the recent price hikes. Tampa seems really spread out as well, and harder to get a read on neighborhoods.

Hey @Orlando Spencer, that would be great! I'll send you an email to get on that list. Thanks!

Hi all! Been lurking for a while as I catch up on the podcasts, etc.

About to close (next week or two) on my first 'turnkey' SFR through HomeUnion (great experience so far, ask me if you need details, I've read all the BP posts about them to date), and already setting my sights a little higher. While I don't buy the '50 roofs vs. 1 roof' argument completely, the idea of refinancing or consolidating 50 properties at once down the road has me reluctant to start down the (admittedly simpler) route of buying every SFR with good numbers.

I'm a numbers geek and my interest is in 'commercial' (4+ units) in Tampa Bay (particularly between St. Pete and Odessa) or in Jacksonville. I'm hoping to put in some cash offers that can be refinanced in a year or two. Hoping to meet brokers or agent in the TB/Jax areas that play this game and can filter MLS for 2%'ers, etc. (I got 1% and change with HomeUnion if it plays out along the pro forma). I think the sweet spot for me is 'medium-fixers' that still have some meat on the bone for value-added rehab. With that in mind, I'm also hoping to make some good connections with rehab people in the TB/Jax areas as well. Love this place!

I would be managing from a distance or through a management company, so anyone else (specifically in the Santa Barbara area) who has had good luck with distance relationships in Florida would be a welcome connection. 

I almost made an offer on a commercial property (1300 sqft office building/house) in Santa Barbara last week, but just couldn't pull the trigger with a conservative 4% cap rate. Not sure how anyone still invests for income in this state...

Here's to no fed rate increase in September!