All Forum Posts by: Jonathan Bifulco

Good morning Matthew, 
I am looking to invest in the St. Lucie County & south Vero beach market. I currently work full time as an RN and it provides a great stream of income that I can use to buy long term buy & hold investment properties. DM me if you are still interested in connecting with local investors.

Good afternoon Hank, 

I am just starting out as real estate investor, and I am looking to do more of the "BRRRR" method in the Vero Beach and holding on to the properties as long term investments. My idea is that through repairs, I am adding value to the property that I can then use to get the terms I need when I refinance to make the property cash flow at an appropriate rate. I am satisfied if the cash flow only covers the cost of expenses when using conservative estimates.

In trying to understand what legitimate investors seek, I would say it would be best to understand the specific investors in your areas long term goals. It would be best to find the investors who are happy to break even or make a small return now and are more focused on building long term wealth.

If you have any examples of the rental properties you analyzed to come up with these numbers, I would be interested in reviewing them.

Thank you,

Jonathan
 

Originally posted by @Dwayne Byrd:

Welcome to BP! Again, like has been mentioned it is an ultimate resource. I just helped a couple purchase a new home together in Vero Beach and we went that route. We were able to get a home that needed a good bit of repairs with a conventional loan, and they gained a ton of equity in it. At this time, it is much tougher to find properties that need repairs at prices that aren't closely relative to prices for properties that do not need as much money put into it. Basically, you have to find a property that needs work, but one that isn't low hanging fruit for a flipper / investor. You have to get some that needs work that you can make sense of for an owner occupant, that wouldn't make sense for a flipper profit wise. Let me know, I can keep an eye out for you in that area!

That is a great point. Can you elaborate and give examples as what would be repairs for an owner occupant and not a flipper? It sounds like (Correct me if I'm wrong) a focus on the potential profit if the property was flipped and a recommendation to look for homes with low flip profit but good cash flow. 

Hello BiggerPockets community,

My name is Jonathan Bifulco, and I am excited to start investing in real estate. I currently work an 8-5 job as a registered nurse in the Vero Beach, Florida area. I currently live in a rented apartment and have never purchased a home before. I am interested in investing in the Port Saint Lucie and the Vero Beach area. At this point, I would like to focus on single family properties that need some mild to moderate repairs. I feel like this is a good way to buy property at a discount as these areas are very hot right now (Let me know your thoughts). If anyone knows of a local REIA group in the area that they would recommend, please let me know.

Thank you,

Jonathan Bifulco