All Forum Posts by: Justin Cabral

Quote from @Brendan M Hornung:

Quote from @Justin Cabral:

I’m looking for any guidance, info, or decent connections I can find.

I am interested in purchasing a 3+ bedroom home with ocean access (boat dock/slip) that I can rent as STR as well as use as a weekend getaway vacation home from time to time. It can be dock frontage directly on property or community dock nearby which is less common.

I live in Miami so preferably within 2 hour drive from me. That would probably encompass marco island, south naples, treasure coast, and upper keys. 

I want to make this happen but would like to make sure I take measured risk and do my due diligence as I have not rehabbed or been a landlord before. 

Wish it was as easy as having the cash and credit to do it but without proper research I know that’s a formula to quickly lose my behind. 

I am grateful for any input and guidance. Thanking you in advance. 

 Justin,

Thank you for this post! I too am looking to begin my investing portfolio in FL with the same exact parameters as you, but I would be investing from across the country as I live in Santa Monica, CA. I have the cash ready to go but am stuck in analysis paralysis. Would love to follow this thread for ideas of markets to invest in. 6 figure capital ready to deploy.

Hi @Brendan M Hornung

Looks like we are in the same boat. I have not begun to do analysis but I know that with prices I am seeing I will not be able to buy the entire property cash and the loan I would apply for will most likely be a bank statement loan so my rate will be a little higher than traditional. 

Quote from @Andrew Steffens:

What is your price point?

Tampa has a lot of options although a bit further than 2 hours!

 Hi @Andrew Steffens

I don’t have a specific price point although I would feel more comfortable if its not more than 1M. Tampa is much further than I would consider for my first acquisition. 

Quote from @Peter Davis:

@Justin Cabral

I go to Miami about once a month across Alligator Alley and haven't had any issues other then the occasional slow down due to the widening they're doing on parts of it. I typically go about 75 MPH, set it and forget it and make calls or listen to music. I find driving up to Tampa more stressful and potentially problematic with the constant jostling across 3-4 lanes and sometimes long delays due to accidents or road construction. Pick your poison I guess :)

 @Peter Davis

I get you and I felt the same way until that last trip. Guess I’m still a little traumatized. We were 2 vehicles and everyone in my vehicle and my wifes vehicle were pretty taken by the experience. It started with heavy rain that you could not see more than a few feet in front of you, then really strong side winds where you literally felt the car swaying, and when the hail started hitting the car that was like icing on the cake. Add that it was already dark out and there were no streetlights where we got caught.

I started thinking that if we were on a normal interstate we would have at least had street lights and could have pulled over or exited and pulled into a gas station or something. 

Mind you we were on tamiami trail because it was a shorter commute from marco island than I-75. Not sure if the experience would have been different as far as street lighting ar least. 

Quote from @Peter Davis:

@Justin Cabral

Cape Coral is another area you might consider; I've sold a number of STR's here. You get a lot more bang for your buck here especially for gulf-access homes with access from the canals right in your back yard. We've had a quieter than normal STR season this year but it will likely pick up as we get closer to winter season. If you can find a home here (or elsewhere) that's already furnished as an STR with solid rents and reviews, even better.

Good luck!

@Peter Davis

 I would definitely consider it if the numbers make more sense. I have not looked over that way because of the distance from where I am. I am afraid that if the drive is too long and boring we are not going to want to use it and I want it to be something we both use and rent out. Drive is about 2.5 hrs from where I live to cape coral.

That drive across alligator alley or tamiami trail is brutal. Specially when you get caught in a nasty hail storm at night like I did about a month ago. 

Quote from @Bob Anthes:

Hey Justin

I own an STR in Jensen Beach which is Martin County. I'm a block from the inter coastal, I have boat parking. My place is small 840 sq ft but stays booked all year. Treasure Coast has gotten expensive as everything else has but IMO less expensive as Broward and Palm Beach. Also allot of growth going on here. Reach out if I can help provide any info.
Bob 

 Hi @Bob Anthes

Thanks for your hospitality. How do you like Jensen Beach area. I have to go check that are out one day. How is the boating around there? As I have kept my eyes open for direct water access properties I don’t think I have come across anything in Jensen Beach. Not sure if its because of low inventory or maybe the prices are too high for my filters.

I would love to find something that might not be waterfront but owns a deeded slip on the neighborhood dock. The price would probably be more reasonable and a golf cart would pretty much make it comfortable accessible to get back and forth from the dock.

Hi @Robert Alpizar

I am considering the keys however would prefer north because I want to use the property myself to “get away” once in a while. The keys on the weekends is pretty much like being back in Miami. Not the case up north or on west coast.

Quote from @Share Ross:

Hey @Justin Cabral

There are some great areas to support your plans in Fort Lauderdale and Hollywood and a few other pockets in Broward. 

it’s pretty straight ahead to find a great sfh like this with dockage and the right vibe. 

No HOAs of course … you might even be able to find one turnkey?! (Just helped someone do this) 

Do you plan to self manage or hire a manager? 

Let me know if I can assist more. 

 Hi @Share Ross

I was planning on managing on my own but would be open to look at other options. I just don’t think Broward is where I want to start. I want first property to be one I can enjoy with my family from time to time and Broward is not far enough from Miami. I was thinking more between Jensen beach and Vero Beach. Something 90 minutes to 2 hrs away.

I’m looking for any guidance, info, or decent connections I can find.

I am interested in purchasing a 3+ bedroom home with ocean access (boat dock/slip) that I can rent as STR as well as use as a weekend getaway vacation home from time to time. It can be dock frontage directly on property or community dock nearby which is less common.

I live in Miami so preferably within 2 hour drive from me. That would probably encompass marco island, south naples, treasure coast, and upper keys. 

I want to make this happen but would like to make sure I take measured risk and do my due diligence as I have not rehabbed or been a landlord before. 

Wish it was as easy as having the cash and credit to do it but without proper research I know that’s a formula to quickly lose my behind. 

I am grateful for any input and guidance. Thanking you in advance. 

@Aaron K.

Thank you for the tip. I will try this. Hopefully I can get someone at the city planning department that is knowledgeable and willing to point me in the right direction.

A colleague and myself are looking to open a large (4 or more ballrooms) event venue which can be booked for memorable receptions, corporate events, conventions, ect. We have determined that we need roughly 2.5 to 3 acres for the stand alone structure and parking. Needless to say it has been a challenge to find something and even if we do, I am not fully up to speed on what type of financing options we have. Kind of feels like finding a needle in a haystack. We need help!

Anyway, there is a 4 acre abandoned city owned property in the area we would like to open that used to be an animal shelter. They moved it to a rebuilt state of the art shelter nearby.

Is there a reliable and worthwhile way to contact the city and see if they would consider selling us the property that has been abandoned for some time now? Or maybe lease it to us and rebuild to suit? We would be creating jobs as well as offering something that doesn’t exactly exist in that area.

Any thoughts?