All Forum Posts by: Ivy Sanmiguel

Join us next week (with social distancing) in a B2B networking event held at Chima Steakhouse in Ft. Lauderdale FL.

Looking forward to see and connect with all BiggerPockets Members!

Welcome @Damien Lee! I can see that you are already enjoying networking and analyzing deals in Bigger Pockets.

My business partners and I have been in the Georgia RE market for over 10yrs, and currently holding 12 doors in their portfolio. We've seen the growth in GA and we've also seen how prices have sky rocketed especially in Atlanta and its surroundings, making finding good deals in terms of cashflow ROI and "As is" conditions of SFR (which could lead to high capital expenses!), and a very low inventory in MultiFam.

No doubt the GA is still expanding, but have you considered out of state investing? All of our investments in GA and MD have been done "out of state" from Florida, it's a matter of having the RIGHT TEAM for full visibility, management and control of your investments.

We have many SFR that meet your criteria in terms of ROI % and probably your budget; similar prices to GA but in excellent conditions.

Let's connect and have a chat when you're available. We are here to help, we all start somewhere!

Best of luck!

Hello @Matthew Gibson, I just took a look at the mentioned property and a few things struck me as possible red flags:

1) It's listed for $449K and seller has agreed on $456K with you.

2) It was last sold in 2017 for $180K. I assume a lot of improvements have been made because the house looks beautiful. However from $180K to $449K we are talking about 149% appreciation!

3) If you are house hacking in the house as your primary residence (required*), you'd only be able to rent 1 bedroom officially which wouldn't amount to $2,000 but more realistically to around $1,300 according to median in the area.

4) Assuming $0 down and 2.5% interest rate for 30yrs, you'd be looking roughly at about $2,300/mo. payments, or $1,000/mo. net payments including taxes and insurance which is still very reasonable.

With this being said, how much $$ are you planning to put as down payment or do you have as a budget for an investment property?

Let's chat. All the best,

Hi Dalila, what other areas with low entry barriers are you looking at and what are your price ranges and expected returns? We can chat about Baltimore, MD where you can easily get Cap Rates between 10%-14% for SFR around 100K. Let’s connect!

Hey @Matt Carruesco , there’s many good answers in this thread, both practical and theorical.

First, you need to define what “good market” means to you (appreciation, cash flow, fix and flip, etc).

However, I think the best answer is to make sure you have a solid team to be your ‘eyes and ears’ wherever you decide to invest.

We have a lot of experience and success investing out of state in Baltimore, MD and St. Louis, MO, with a full team of Local Property Management and renovated turnkey properties for around $100K with 10% + Net Cap Rates.

Let’s connect and chat!

P.S. I also recommend David Greene’s book Long Distance Real Estate Investing from BP library. Great resource! 👍🏼

Hello @Zane Steward, 

What are your real estate investment goals now that you are starting in this business?

Are you looking to buy distressed properties under market value for a fix and flip or are you looking to purchase a rental property for cash flow? Also, what markets have you been exploring?

I'm a licensed agent in Florida with 8+ yrs of out of state investing, currently working in Florida, Baltimore, MD and St. Louis, MO. 

Let's connect, to understand what are your goals and needs to start your journey in this business.

Best,

Ivy

@Andrew McElroy Hello Andrew, it depends on your investment goals; if you’re looking for cash flow, appreciation, flipping, etc.

With that being said, Baltimore, MD is a good place to look for renovated properties with good cash flow (+10% Cap Rate). Are you interested in turnkey solutions? We can connect.

Best of lucks in this journey!

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $53,500

Income Producing Property for cashflow

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

Cashflow

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

Used to work for a wholesaler, learned something about that market.

How did you finance this deal?

cash deal

What was the outcome?

monthly income

Lessons learned? Challenges?

choose the best Property management company you can find.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no

Hello! I'm from the area and would love to attend now that we are reopening. Thanks!

Hello Stetson, Thanks for your reply. Already sent you the info requested.

For the sake of this thread: Looking to buy Rental Properties (SFR, Mobile Home, Multiplex, etc) that can yield a steady NET cashflow (8-10%) paid in CASH.

Already have a Portfolio of 12 SFR and looking to buy 1-3 properties that meet that criteria.

Looking fwd to connect!