All Forum Posts by: Kevin Mercado

Hi All - looking for investor-oriented (bonus if you've took this path yourself) people to chime in and hopefully connect with on their thoughts on the following:

1. FL Market in General (FL is huge / Northeast vs. south or Central) areas for relative value. Of course people have biases but thats where "numbers" come into play - big emphasis in future trends. If anyone can share some #s on the different areas for STR or even LTR on why it a great choice (the thing in FL is I know there are many "good options" which makes it hard to choose)

I am also aware that so many county's / city's have their own restrictions and rules so I think working with someone that has experience/ have their own STRs would be key in navigating this (part of the "value" ie.) less hassle in certain areas vs others with HOA fees and other rules/restrictions).

2. Approach - if I wanted to do a STR vs LTR - there are a couple of ways I was thinking but I'm interested in exploring new builds, and renting it out as a STR/LTR. My initial purpose was to find something that can double as a vacation home since I am from out of Country, so preferably was looking at SFH with a Private pool - 3Bd/2Ba type of property - though I've been reading several opinions on going new build route vs. buying an existing property. Would anyone that has went down this path provide some insight / builder / company to recommend - I saw a couple of CO's that offer but pending some questions with them on whether the builds they're doing require me to take up property management as well once its done, and whether the builds can get a pool added as it wasnt part of the "product" brochures.

I know this will be a juicy topic - so if anyone can chime in or better yet provide a better "option". Also thankful for those that I've had the opportunity to connect with recently (the BP community has been great - wishing everyone a safe and happy holidays!)

@Patrick Bavaro _ sent you a CR + message!, that's interesting and those numbers look solid. Interestingly enough I follow a podcast and the investor in particular has done something similar

@Tchaka Owen thanks for that insight Tchaka, thats nuts. reminds me of our market here in Toronto/GTA Canada - where Appreciation have been going wild - and spreading outside to the outskirts where properties used to be 250k and have tripled (minimum) over the past 3-4 years alone. This is exactly why I'm trying to connect with the right people who know the different zoning laws/restrictions / sometimes HOA's also would impact certain properties as Ive recently learned (there was even one area where apparently only 55+ aged residents were allowed to own..)

@Krista Goodrich @Daniel Denning, @Alex J., @Alexander Knowles Hi all - joining the conversation as I've been scouring the threads on this topic - to those already in the Tampa Bay/ Clearwater or knowledgeable in Florida market or even Volusia county can you guys opine on whether those areas are stronger / future trend and value perspective (from cost to acquire/set-up) versus Orlando / South florida (Ft. Lauderdale / Miami beach / or even West Palm Beach area) 

I'm in the same position and have really been on the search, but being from out of country - I have gaps in market presence so I know id be spending hours on diving into market research though thats not a problem necessarily since it means there are "good options" not just one. Looking to connect with any realtors that are investor oriented and do this themselves + if you have contacts/boots on the ground for setting up/managing the properties that would be great too 

Hey @Dan Crosby - its like you read my mind/ I'm a relatively new investor though and appreciate those insights. Im not as advanced yet as I'm in "research" mode but realizing quickly the variances in opps. the States has vs. Canada at the moment.

I know there could be markets / deals but its finding a needle in a haystack vs. a stack of needles scattered across - sent you a colleage request / would love to connect and learn more about what you're doing in the states + the structure set-up is key as well.

Hi @Stephen Fryer and @Dragan Jeremic I am also interested in learning more about this; would you be able to share your insights about the process? the only thing putting me off are the cross-border implications / travel back and forth and ideally a US-based team that can help/aligned goals. I know the money is in doing it mostly yourself vs. turnkey but still learning before i jump with both feet in - I'm also based in GTA/Ontario

Hi @Joe Brown wow - I read your posts and said wait a minute, is this me talking? I can literally echo your enthusiasim + passion for fitness. Seems like scouring through this thread I see that a couple of others are as well - so nice to meet you all and definitely open to connect @Cody Shearer , @Meagan Peters @Julie Toh - I actually started digging more into opportunities in the US but again, from an education perspective - just being a sponge with all processes / different avenues available for returns etc. 

I do agree that a multifamily may offer the best in terms of returns if the right deal can be struck, I am based in the GTA and part of the reason is the relentless appreciation of properties here which is leading me to look elsewhere so Waterloo region / kitchener are areas that I'm not as familiar with but have heard some successes. I am open to connect as well and really am driven to get this to work. Cheers all

Kevin

@Melanie Dupuis I'm not sure if this thread is still active, but I did get a notification on your response; I'm definitely still interested. looking for partners on getting into this.

Hi Marci - fellow canadian here based in Toronto, just checking in if you've had any progress? I'm literally in the same boat and have started to realize that there just seems to be more opps. in the states as our market has no signs of slow-down + leverage seems better in the US due to the pricing differences. Looking to connect with you if you had made any progress / and definitely looking forward for partners /learning more