All Forum Posts by: Joshua Rountree

Thanks everybody for the responses. I was leaning towards putting it on the market as well, but didnt want my bias as being the realtor on the deal over come solid advice for a friend. But the market is HOT and who knows what we will get for with max exposure. As I always say to my clients, It cost nothing to put it on the market, only when you close. And you get to pick which offer to close on!

Hey BP! I have a investor friend that has a deal under contract and is trying to decide what to do with it. He has a unique situation where he can either do a traditional wholesale to a off market cash buyer through our local investor network, or go to market with the property and seek a buyer that way.

This property needs a pretty hefty rehab and at least for a newer investor like himself it's a pretty daunting task and he has decided to let someone else worry about the rehab. So what would you do? Try to network with local investors and get an off market cash offer? Or put it on the MLS and let the Market decide. Wholesale VS Wholetail?

@Bernadeau C. Sure! PM me with any details you may need

@Jessica Khokhlan

Very loaded question but I'll do my best.

I believe as we are in a bubble in general when it comes to Real Estate across the nation which means everything should be taken with a grain of salt, especially Sarasota. Historically low rates have inflated everything and cause a sudden drop in very very low inventory rates. That being said I do believe the market across the nation will catch up with itself sooner rather than later. Sarasota is historically a older (age wise) city and therefore not as fast moving and ready to capitalize on the sudden upturn. Keep in mind however Florida specifically coastal city's are highly desirable location for snow birds to look towards in the coming months due to the cooling weather. "WINTER IS COMING" and actually turns out to be an accurate warning in our market being the high point in the season as far as transactions and should be noted with everything being said when talking about the "Market". I still think it's a great market to invest in but as with every where else it all depends on the deal you lock up.

Hey @Frank Tobey,

Sarasota/ Manatee Area is wide and diverse, It is important to find a realtor that is familiar with the range of investments the area offers. What investment strategy are you looking to pursue in Sarasota/ Manatee area? 

Hello @Ian L.!

Welcome to BP always exciting to see someone new in my area get into the space. Sounds like you have some of your path already figured out in that you want to go into buy and hold. As far as your question regarding who to add to your team first, you are right on track in thinking about a broker who can help. A broker can help you connect with not only deals on the market but with any other contacts you are looking for. The next step after finding your broker is finding a hard or private money lender to help you out with the funds on any upcoming deals. Please keep in mind even though they are are not a traditional lending institution they still may go off of your credit, your income, experience, and how much capital you have have to put down towards any investment opportunity, mainly looking for how much skin in the game can you bring to the table and ability to back it up. BRRRRs are great a great way to get started and if you can find one that works then go for it! Sarasota is a tough place now a days to get these deals but they are out there. Hope this helps and if have any other questions feel free to DM me. Good Luck!

Hello @Joshua Perez

I am a local investor and Realtor in the Sarasota area. I would love to connect with you and have a conversation about the area and some up and and coming deals that hit the market. Sounds like you have a great plan for yourself, good luck!

@Jeff Young

What you have heard/ seen is true. I have also found the more north you go the more activity there is with deals at least in terms of cash flowing properties. Building a team is the right way to go, having people deal with different aspects of your business creates an atmosphere where it is easier to solve more problems. Two heads are better than one. It seems you may be taking the " Money finds good deals" approach and yes this may be true but I encourage you to dive a bit deeper into what exactly this means. Is your financing going to be traditional? Hard money? Private? what are the rates you will be paying or the cost of capital? Not sure if you have done this already but always a good idea to figure these questions out. Helps when analyzing upcoming potential deals!

Hello @Luis Arias,

Bradenton is definitely a hot market for multi family and what @Andrew DeWeerd said was true. As far as the MLS multi family has been offering less than stellar deals from a cash flow prospective. Always like to look in the past to figure out whats ahead. How did you find your previous two deals?

@Matthew Grebeta

All replys here are really helpful and should be considered closely. When it comes to your property search what exactly is the hesitation with the current deals on the market? If you have been searching for 3 weeks now you may have a better understanding on what the multi family market is like in these areas, and see that your budget is not unreasonable. If you could find a perfect investment property what street would it be on? Are there any multis there? and does it fit within your investment budget? Answering these question for yourself and letting your realtor know is huge and should bring you closer to finding that property that works for all of your needs. Especially if dont mind doing some cosmetic updates yourself. There IS hope! Just need to be patient and thorough.