All Forum Posts by: Kevin Pillow

I had no idea you were on some of the BP podcast?? You're a celebrity lol!

@Quentin Jivery That's a great way to start, especially if you can qualify to get an FHA loan with a low down payment too/fixed rate. I'll see if there are any investor friendly agents in my exp network I can send your way.

@Rob Allen I would also try to link up with a fellow active duty agent/investor thats very active in the Pensacola area. @Caleb Drake can definitely point you in the right direction if you have more questions and he runs his own local REI meet up out there so you can grow your network. Welcome to the NW Florida STR family!

Hey Quentin, I would check out the book Finding & Funding Great Deals by Anson Young. He gives a great step by step process using listsource.com to identify areas where investors are potentially buying for a wholesaling strategy but it can be applied for flipping or buy and hold too. The answer to your question depends on what type of properties you are looking for, residential vs commercial. What you want your returns to be like, for example if you want properties with cap rates of 10%+ or a dollar figure of cash flow. If you feel comfortable investing long distance vs staying local. The list can go on but I suggest create a buy box with what you want your investment to do for you and then look for markets that align with the criteria in your buy box.

@Caleb Drake My listing just went under contract after about 14 days on market. Only 5 showings spread out over that time and the offer came in below asking but the amount of equity the sellers netted made sense instead of waiting for another buyer. A bird in the hand is worth two in the bush situation. So definitely a slowdown on buyer demand compared to 6 months ago. I think it’s a mix of seasonality and general market conditions. 

 Smart advice from one of the best in the area!

@Jeremy H. I hope you can tell I wrote that post at 1 AM half asleep with all those spelling errors 😂. I like that method as my back of the envelope analysis. If I need to really drill down on a condo or a neighborhood for a situation like you mentioned I will go into Pricelabs. It has some tools that you can manipulate to get specific data on occupancy rates and what the rates it is currently listed for. I’ll DM you to show you how it’s done. Think of it as using Pricelabs to do the “enemy method”. 

@Trent Reeve yeah you would be paying PMI.

 I’ll throw a warm intro email too and cc you on it.