All Forum Posts by: Katelyn Atcavage Robideaux
Katelyn Atcavage Robideaux has started 17 posts and replied 44 times.
Post: Rental / Agricultural property investment
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
Quote from @Clayton Silva:
I would definitely first consult with a 1031 exchange specialist. It is my understanding that you cannot live in the property for at least 2 years and 1 day to meet the 1031 exchange requirements.
Secondly, loan program is going to depend on the property itself, your credit, income and other factors. It would take a pretty deep dive into your finances and situation to find a good program for you. Typically you want to exhaust conventional or full doc NQM options first and then move to bank statement or DSCR once DTI is tapped out. There are a million ways to skin the cat and it would be impossible to give an accurate idea of which program is ideally suited for that specific scenario without some more context.
Thanks Clayton! I hear you. It’s a pretty broad question for sure. Thanks for your input. Going to dig further. Also shot you a message to connect.
Post: Rental / Agricultural property investment
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
Hi BP fam!
My husband and I are looking to do a 1031 with an active air bnb rental property being the property of interest. There are two houses on site. We would live in one and rent out the other. The property is on just under 2 acres and we have plans to add another tiny home on site and a chicken coop with garden.
The long term rental numbers look good on this as well.
The owners are open to a contingent on sale contract.
We are trying to decide what type of loan is going to be best for a situation like this as we know the agricultural side and the rental side of this are both beneficial.
We are appreciate any insight! Thanks!
Post: Looking for out of state markets
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
Quote from @Matthew Irish-Jones:
Quote from @Paul Mitchell:
Hello- I am a fairly new investor from the Northeast and looking to invest out of state. Ideally looking for single family or up to 4 unit multifam that can rent long term or medium term. Open to markets in the midwest, south, and northeast. Up to $100k avl for downpayment. Any advice on specific markets would be much appreciated. I am also open to partnering on perspective deals.
Thanks!
Every agent on here will tell you why their market is special. You should clarify what your goals and risk tolerance is to be able to better narrow down what you want out of investing.
You should pick a market where you can get the most bang for your buck, while using risk as a counter balance. You can get 10 units in Niagara Falls NY with 100K leveraged, that does not mean you are going to get a return, as its a high risk area.
You can probably not even afford to get into a big city with 100K, so you will be left with mid to small size cities. Once you have narrowed down average home sale price for a multifamily, analyzed risk and the state and city level you will probably find yourself in one of the rust belt cities.
At that point the difference between Buffalo, Cleveland, Detroit, etc... are not that big of a deal. What is a very big deal is picking the right team. A great team will get you a return in pretty much any market. While a crap team will ruin a good investment in any market.
Being an out of state investor the team choice is more important than the market choice.
Lastly, you need an investing criteria. I use Location, Asset Condition, Returns, in that order. If I am getting a great asset, in a great location, I will forgo great returns.
What I will NEVER do is get great returns on a crap asset in a crap location. Those are what we call spreadsheet returns. They are very dangerous and should be avoided at all cost.
Great assets in great locations always sell. Don't forget you need an exit plan.
This response is spot on. There are so many great areas, and we play around with different spots and different goals, so, there is no perfect location. I agree - deciding what your goal is, making sure you have a SOLID team behind you, and digging into “what’s my back up plan if this doesn’t work” don’t have an answer to that? Probably a good idea to move onto the next.
Happy to help in any way I can. Cheers!
Post: Scaling to Larger Multi-Family Properties
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
The replies above are really thorough and helpful. I just thought I’d add an often overlooked source - Facebook. There are so many investment groups and different people to connect with to 1) go in on a deal together 2) find deals, etc.
it’s just a good spot to network a bit (not as great as bigger pockets of course haha but another platform to use!)
Personally - we have found a lot of success scaling from single family to multi by a combination of all the above. Mostly networking. Bigger pockets, plus Facebook, plus CREXi, and having a team in your back pocket that can be on the lookout for exactly what you’re searching for.
Hope this helps and cheers!
Post: Multifamily in South Florida
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
I am curious where this post went - what area did you decide to invest in Peg and Alex? Has it been successful? We love both coasts (Jupiter / palm beach area on the east coast, and, sarasota / tampa area on the west coast) I highly suggest looking into both if you’re adding to your portfolio. We’ve found success on both sides. They’re similar yet so different. Cheers!
Post: Sarasota, FL Investor
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
Welcome to the sunshine state, @Kate Howard !! I hope you have had some successful connections since writing this post (and maybe even a purchase!)
I am looking to partner with more local agents on specific client deals, as I am an agent in the sarasota area as well. Could you PM me those agent contacts that you have found helpful?
thanks so much and CHEERS
Post: New Florida Investor, looking for advice on best areas for long term rental holds.
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
Quote from @Malcomb Stapel:
Quote from @Anthony Montano:
Is there any areas in FL that seem like they could be great opportunities for long term holds? Does anyone have any experience with rental property ownership and could share their experience in areas that are great / terrible for long term investing? I am new to Florida and I am just doing some research for now and would appreciate any insight from more experienced investors.
@Katelyn Atcavage Robideaux for the Tampa / Sarasota area
Thank you @Malcomb Stapel for the tag! Anthony - I would love to help you and discuss! I’ll message you separately. I work on most of the southwest Florida gulf coast area and there are some awesome long term hold spots that I personally have some investments and have helped other invest as well! Looking forward to chatting. Cheers!
Post: Transferring active STR to new owner
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
Quote from @Andres Murillo:
Quote from @Katelyn Atcavage Robideaux:
Quote from @Eliott Elias:
Let the old owner be co host to keep the reviews and status. Once the new owner has built up reviews the old owner can drop off.
thank you everyone, for your input! So helpful.
AirBnB doesn't allow you to do this. Guests leave reviews for EITHER the host or cohost. If you pull up any page with a cohost you'll see that each have their own sets of reviews.
The only way this is ever accomplished smoothly is if the seller sets up the listing as a separate entity. The buyer would then buy that entity, including the email, domain and Airbnb profile. This would most likely go on a separate note outside of escrow.
Makes total sense. Thank you! Sounds like the best and cleanest approach.
Post: ACTIVE agents in PA, NJ, and NY???
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
Hey BP fam!
I am looking to connect with active agents in the northeast region of the US. I’m from the PA area originally, moved about 10 years ago, and am now an active agent in mainly southwest and southeast Florida!
Hoping to pick your brain on the market in the northeast and to build a relationship for future clients! Thank you!!! Cheers
Post: Transferring active STR to new owner
- Realtor
- Jupiter, FL
- Posts 44
- Votes 19
Quote from @Eliott Elias:
Let the old owner be co host to keep the reviews and status. Once the new owner has built up reviews the old owner can drop off.
thank you everyone, for your input! So helpful.