All Forum Posts by: Josh Shaughnessy

Quote from @Jaron Walling:

@Ian Morales Do not buy real estate yet. 

Wait until you're stable and planning to live in place for 3-5 years. When you're deployed can you read books? I would read and get into the weeds on market research. You could come back to the states and be 2X more knowledgeable on SFR, BRRRR, or small multi-family deals. Avoid risks!

From the looks of your skill/knowledge level, this sounds like the best route to take. Additionally, deployment will allow you to save up money (go to the gym, eat at the dfac, don't waste on stupid **** you don't need) and be financially better prepared to pull the trigger when you get back. 

You’ll probably need to provide more details to get any help. Even within cocoa there’s a pretty decent variance in what prices will be.

Speaking from experience, find a GC you like, then get them certified with the VA if they aren't already. Getting them registered with the VA is a pretty simple process. Also make sure the GC knows that extra paperwork could be required. For instance on mine the GC couldn't just write the bid "drywall work -$xxx" they wanted it X sheets of drywall $x, Y boxes of drywall screws -$y, etc.

I've heard there's one in West Palm Beach, but I've also heard it's kinda sporadic if it actually happens or not. Other than that, there's one every month in Port St Lucie if that's not too far

You want @Derek Stalhut He’s from the area and works extensively with investors

@Derek Stalhut

@Dan H. You're correct my spreadsheet assumes everything is new. The most accurate way would be to run another version with the expected life remaining for an initial period and then move to full lifespans thereafter. 

Your experience sounds like it matches mine in that many investors (myself included) tend to underestimate capex and maintenance costs when they're starting out. All part of learning, I guess

Quote from @Jennifer Baldassari:

@Dan H. thank you for the feedback!

Using the BP calculator we budgeted 7% for both capex and 7% maintenance.  Your budget for cap ex/maintenance expense is 3x that?

 Here's how I budget capex... 

I believe Costar pricing depends on what market area you want, but for a single license, I'd expect >$500/mo.

If you're new to investing, I'd suggest working with an agent, at least until you better understand the process and common pitfalls. 

The cheapest/potentially no-cost option is just doing public records searches and contacting owners directly. You can also network with commercial agents and sign non-exclusive representation agreements for the stuff they bring you.  

Quote from @Henry Clark:

The old firehouse is all brick.  Just a great architectural building. For our town would be a great Airbnb, although we don’t do housing rental, just commercial non MFH.  

 I've seen a lot of older architectural buildings being converted into event venues lately. Might be another path to consider...