All Forum Posts by: Randy Buff

It can definitely benefit you.   There is always 15 to 30 minutes of education where someone presents something related to investing.  There is also a "gots and wants" section where dozens of people mention deals they have or properties they are looking for.    It is also a great forum to asks for local recommendations on who investors use for repairs, closings, etc.   

The sign and food are not the best but the knowledge makes it worth the stop. You can attend the meeting for just the price of the buffet for the first few times before having to join the REIA ($100 annually). Almost every meeting I at least pick up one thing I did not know. I hope to see you there sometime. I will not be attending the August 16th one due to another commitment.

I am an agent working for Exit Sunset Realty. I also personally own several units and a commercial property. Duplexes have been bid up a lot locally but occasionally you can find one that makes sense. You will need to have cash resources to purchase one or your bid will not be taken (if priced well). Most investors operate with LOC or hard money and then refi after 6 to 12 month seasoning to get most of their cash out. I know a few hard money lenders that will finance up to 100% provided the deal makes sense.

Randy Buff Exit Sunset 9*41-Seven04-4310

There is a REIA meetings (two separate groups) at Bradenton Yacht Club on Tuesdays at 12:30PM and one in Sarasota at Oriental Buffet on Bee Ridge on Wednesdays at noon. The Tuesday meeting is usually 20 to 35 people, Wednesdays is 40 to 60 people. Mostly buy and hold, flippers, and some wholesalers. Also hard money lenders at both meetings.

This is my first question for BiggerPockets.   I have a family friend that is interested in renting one our units.  I am pretty sure she has poor credit history since I know she has a car repossession last November.  I have not pulled her credit yet.  I believe she pays on time because she tends to remain at one address for 3+ years at a time.  She has a decent job (School Nurse making $45K+ annually) plus her husband works as well (don't his income yet).  Normally I require an absolute minimum credit score of 575 for all tenants over 18 (will overlook on lower if one of the applicants has 650+).  The property is a 3/1 SF that rents for $1,475 per month in a working class neighborhood.  Should I take a risk and lower my standards and rent to her thinking that she would be a long-term tenant (and help a family friend out) or should I stick to my standards?  NOTE that I have zero difficulties renting the unit when it goes dark - that is not a factor in the decision, just trying to potentially help someone.