All Forum Posts by: Brian Garrett

Commercial loans don't require you to have to buy in 5+ unit transactions.

They are available for 1-4 unit properties as well so they are still an option.

It sounds like the price to rent ratio in your area just doesn't work.

BRRRR is best suited for lower priced properties that still return solid rents.

You might be trying to force a strategy that doesn't necessarily work for your market.

In my years here on the forums I have never seen a great deal posted in the marketplace.

@Maria T. What you described would be around $150k+/unit in this area depending on the income it generates.

@Ray Melendez I hear you and I agree. I would consider another market but only if it was through an experienced operator there who has a proven track record and team. Otherwise I'm going to continue to hunt for something locally.

@Maria T. Central Florida (Orlando) is a really hot market right now it seems to be almost as competitive as it is down here in South Florida. I also believe there may be more "mom and pop" opportunities in the next 6-12 months but only time will tell. Always open to discussing opportunities so feel free to reach out anytime.

@Jonathan Greene Sounds good just keep me posted as I'd be curious to hear how your efforts go there.

@Robert Gunn You shouldn't have too difficult of a time locating something being that you're looking for such a variety of property types that all fit different strategies.

@Ray Melendez It seems a lot of local investors have pivoted and gone out of state I just personally don't feel comfortable investing somewhere I'm not familiar with and/or don't have a team.

Congrats on the deal where in Ft. Lauderdale is this located?

60% LTV is pretty low was the 40% down required by your lender or what you needed to hit your numbers?

@Kiran Singh I check Palm Beach County on the MLS daily and have not noticed this. Are you specifically referring to 5+ unit multifamily or are you including 2-4 unit properties as well?

@Stetson Miller It's interesting that there's been a sudden flood to the market. I'm not seeing that here in my area or in other markets I've been looking at. Feel free to reach out I'd be curious to see what some of these look like.

@Stetson Miller You mentioned that you have several investors looking to purchase the same kind of deal. Out of curiosity if you have some that you believe fit my criteria how come your other investors are not pursuing them?