All Forum Posts by: Jennifer Tan

is there a place/registry in Florida where I can research an investor?  I'm looking to find some information to verify if the investors owns properties as they say they do.

@Blake Reynolds

Most of my dealings with them have been consultations on various topics and all have been informative, helpful experiences which would have cost me a lot of fees.  I have not set up anything with them as yet.

I use them, though not as often (that's a good thing). It gives me that security on having a 'go to' when it comes to any legal issues or inquries.  They do have people specialized in all areas, thats whats good about it.

@Beth L. Approximately what is your monthly cost runnning the vacation rental in Florida?  I have been planning on getting one but I can't make sense of the numbers for a positive cash flow.

Welcome @Andrew K.

I am still trying to establish a solid connection with the Florida network and it is not that easy as @Marc Champagne mentioned, it takes a lot of due diligence in finding the right contact. 

@Rick Amos

 I'm interested in finding out more on your flip syndication. 

I like @Jay Hinrichs advise.  As I'm looking for something like it in Florida.

@Danny Di 

I interviewed a couple of agents to assign my unit.  One of them was an agent who specialized in condo assignments but wanted to charge 6%-8% in commission - so that didn't work. The other was an agent that I knew but lacked the experience in assignments.  So I approached the agent who actually sat in the model suite and also dealt with the walk-in buyers.  The upside to this was that the agent knew the inside and out of the sales of the building, i.e. inventory, units in demand and not, what the buyers are specifically looking for and walk-in buyers are a big plus (personally). The downside is that the agent will also be showcasing the builders units and then yours. However, typically builders allow assignments only when a substantial units of the building have sold, say 80% as an example, which means these are the more desirable units, the 10% are less desirable i.e. close to the garbage, no balcony, traffic noise, etc. If your unit has the better appeal and is what the buyers are looking for, you’d have a good chance in getting your unit scooped up. The key is exposure to the buyers who already have their foot in the door – this particularly worked for me.

Good luck.

My first deal was a JV, 30% 70% on a flip. $60K was my required contribution in the deal. So I used my savings of $12K, borrowed the rest through LOC, and family. Got a return of $28K after 9 months.