All Forum Posts by: Gerald Renoe

Welcome to the party, Brad! I am an active investor in the Brevard area. Let me know if you would like to meet-up for coffee soon. 

--Jerry

As promised here is the detail! Check it out over in the Marketplace. 

https://www.biggerpockets.com/marketplace/easy-flip-3-2-cbc-merritt-island-fl

Hello BP Nation!!

We have a deal in escrow here in Brevard Co.!! 3/2 super solid CBC over on Merritt Island close to A1A. 

Need to get insurance linned up ASAP. 

Closing next week. 

Please reach out. 

-Jerry 

678.477.1543

Hello BP! After a 15 year hiatus from REI...I'm back baby!!

We just got our first deal in escrow here in Brevard county! I will be posting the details as we go along. I'll have quick pics later today. 

Thanks to @Brandon Turner and @David Greene for the podcast...not sure I would have made with out the information and more importantly the encouragement. 

The deal came to us through a bandit sign! Interesting, I have found that I love the thrill of the chase. D4D, walking properties, putting out bandits, seeking new areas...love it. I guess it makes sense after decades at a computer and at meeting tables, being "out there" and being hands on is a thrill. 

I may end up focusing on the hands-on elements as I build out the team. A good lesson from the podcasts and other wise advisors - focus on the elements that you love and are good at, find people that are smarter about and better at the other stuff! 

The deal is on Merritt Island. 3/2 CBC. Cash. No major issues at all. Only two owners. The house just needs to be updated. 

Its a classic low-in-a-high play. Surrounded by homes that are 2-3x the value. Super central location. 10 minutes to beaches. 

We are obtaining the property at a low enough price that we have options - wholesale, buy and hold, flip, etc. 

If you are in Brevard and are interested please shout. We will post over on the Market if we decide to officially move this one and not hold. 

Working through the insurance situation today. Probably will need flood and hurricane. But, again, the deal is good enough that it will cash flow, maybe as is, even with the higher insurance. 

Stay tuned for more on this and other deals as we ramp up!! 

--Jerry

"Its not what you get, its what you become." -- Jim Rohn

@Jaysen Medhurst

Good thoughts! Everything is rough right now. After the drive by, if it still seems good I'll refine. The area has several pockets that a are no fly zones for me and I am still learning the exact streets...so this will be interesting. 

Interesting on the agent %. If I do this as a quick contract flip to another investor I wouldn't pay normal fees, just the transactional funding and tile fees. So I jus threw in the percentage to cover those and any other things that might pop up. 

I'm looking at some deals down here around UM. How do you think potential abuse and neglect from rowdy students could impact Cap Rates over time?

Going to drive by this one in the AM. The house was built in 1925 and looks like a total rehab. Anyone have experience with these older houses? Seems like if done right there could be big appeal. What do you watch out for in cases like this? 

View report

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I am a few weeks away from ramping up my wholesale business here in South Florida. The last piece of the puzzle - a great construction / inspection partner. Please contact me if you are in the area. I will be working in several pockets from the Palm Beaches down towards Homestead. 

I'll be looking to build some volume and speed this year. Will start out with inspections at first, short close windows, double closings, etc. But also will be looking for cherries to buy, fix and hold and or flip. 

Hope to hear from you soon! 

--Jerry 

I attended the webinar yesterday and have read the CI CEO's response to other threads here on BP. It looks to me like what CI has done with PiN is to aggregate many sources of REI leads. While that is a highly valuable service it does not seem to warrant the very high price.

Also, they are shooting themselves in the foot by making huge claims and grandiose predictions. The webinar felt more like a late-night infomercial rather than a solid presentation for a legitimate product.

Having said that, I may try it. At a minimum it would help me quickly vet all those lead sources versus trying to figure them out 1 by 1.

I attended the webinar yesterday and have read the CI CEO's response to other threads here on BP. It looks to me like what CI has done with PiN is to aggregate many sources of REI leads. While that is a highly valuable service it does not seem to warrant the very high price.

Also, they are shooting themselves in the foot by making huge claims and grandiose predictions. The webinar felt more like a late-night infomercial rather than a solid presentation for a legitimate product.

Having said that, I may try it. At a minimum it would help me quickly vet all those lead sources versus trying to figure them out 1 by 1.