All Forum Posts by: Manny Del Val

I live in FL and I love it.  It's a very friendly business state with no state tax.  I am a realtor myself there are deals to be made but your correct its not easy to find. Your comment on it being overpriced depends on the value you put on things. I value lower taxes and less regulations, I value the sunshine and beaches that Florida provides, so do I have to pay a little more for that so be it.  Appreciation in FL is a real thing I know from personal experience. You might get better cash flow in Cleveland or Detroit, but I don't want those crazy winters. 

Off Market is an option but with my W2 job I don't have the time nor the desire to cold call and the mailer conversion rate is ridiculously low. Do you have any suggestion on how to do off market without doing cold calls or mailers?

I appreciate your take @Bob Stevens 

Thank You

@Duriel Taylor please message me to discuss we are still actively looking to purchase in South and Central Florida. 

@Dwayne Byrd price range we are looking at Duplex from the 200K Range to 16 Units at about 2Million.  Our sweet spot is between 4 and 8 units from 400K to 1 Million. 

@Kevin Kohler this depends on the area the building for Cost per door. Depends on the Class of Building there is alot of variables. Target Cash on Cash minimum is 7% we aim to make 10%. The target Cap Rate depends on the market we are in but we are looking at Caps of 7% to 9%. We have appetite for CapEX as we look for value add opportunities that will increase our NOI and reduce expenses.

I am sorry for the late reply.  Please feel to free to reach out to me to discuss further.  We are still actively looking to purchase. 

Thank You 

Manny

Hello All, 

My name is Manny, and I am an IT Manager, a Real Estate Investor, and a Licensed Real Estate Agent in Fl.  I have recently moved from South Florida to the Space Coast, and I am looking for serious people who are interested in investing in multifamily.  Looking for a Hunter type that would like to join our team and help us find deals.  We are building a team with a fantastic underwriter that knows the numbers inside and out, a solid money and capital raiser, an experience asset management team, but we are missing the deal finder. 

So, we are looking for local South Florida people who would like to partner up and go after multifamily deals. 

My role is to Analyze the Deals, make sure the numbers add up, create a business plan, increase the NOI, reduce expenses, help manage the asset, provide some skin in the game, and raise the overall value of the property over 5 years.

Our other partner's role is to help manage the asset, provide additional funds, and to help bring capital investment on larger deals. 

Your role will be to talk to agents, property managers, look for off market deals, and provide some skin in the game for potential deals. 

If you have the Hunter type skills and you're interested in Multifamily investing let's connect. 

Thanks 

Manny 

Hi @Danielle Lynch

I am an investor, a realtor, and lived in South Florida for over 30 years. The South Florida market is tough but it's not impossible to cash flow. Areas in Broward and Palm Beach are going to cash flow more than other places. I would look at Miramar, Hollywood, Dania Beach, Lake Worth, West Palm Beach. You want to look for C+ to B- neighborhoods and Class C buildings where you can do some value add to get higher rents and increase your NOI.

I would advise that you start small 2-4 units and once you have a solid team then move into the commercial space.  If I can be of any help please feel free to reach out.

Hope that helps

Manny 

Hello we are looking to buy multifamily properties in Fl. Specifically looking at South Florida, Orlando, the Space Coast Area, Port St Lucie, and Daytona Beach.

I have a realestate license myself but I only do single family as an agent so I have access to the MLS, but I am looking to connect with Multifamily and Commercial agents that may know of any off market type deals or hidden gems in the multifamily space. Specifically looking at 2 to 20 units build after 1980 so C class to B class buildings in decent areas C to C+ neighborhoods and up.

Please contact me if this is something you can assist with.

Thank you

@Brock Burton I am looking for B and C class buildings that we can add value in Florida Market specifically South Florida, Orlando and Daytona area 2- 20 units.

@Brock Bolduc let's connect I am investing in Daytona would love to talk and see how we can help each other. Feel free to reach out.

We are looking for lenders that specialize in Multifamily lending from 5 to 20 units. We are actively looking for deals and would like to start speaking to lenders before we have a deal under contract.

We like to know what the requirements are?

What is your Debt Coverage Ratio?

What is the LTV?

What are your rates and fees?

Just want to start the conversation so we are ready to go once our offers are accepted.

Any referrals will be greatly appreciated.

Thanks

Good afternoon, I am actively investing in real estate. I am taking my game to the next level and investing in Multi-Family Real-estate. I have been successfully completed a couple of flips in South Florida and I have an active mid-term rental that rents in Jensen Beach. (If you are interested let me know). 

I recently started my multi-family journey with a Duplex in Daytona Beach that we are looking to convert to Triplex and are currently fixing it up. I have recently joined the Bigger Pockets Multifamily Boot Camp to learn more about multifamily real estate. I am looking to expand my business by buying apartment buildings and helping people that want to make money passively build their net worth while I build my business of multi-family apartment buildings.

If you like to join me on my journey or get some education on multifamily investing, I urge you to friend me, or send me a message. 

My target markets are in Florida, Tennessee, Georgia, and Texas. If you reach out, I will explain the specific cities and why we chose them.

Looking forward to connecting with people who are interested in multifamily investing. 

#multifamily #multifamilyinvesting #biggerpockets #realestateinvesting

Hello, I am looking to expand my multifamily business this year.  I am looking to buy small multifamily properties 2 -4 units in the next 3 months, and I am looking to buy 2 or 3 of these properties this year. Looking in Florida from Orlando to Miami.  I already have a duplex that I will be converting to a triplex this year in Daytona.  If you have any deals that you are looking for an investor, contact me. I am also looking to partner up with experienced investors to take on larger deals. 

Just a bit about me to give those some background on me. 

- I been in real estate since 2019

- done 2 flips

- own a vacation rental 

- own a duplex converting to a triplex

- Have MBA

- Licensed Realtor in FL 

- Goal is to have 8 doors by end of 2023, 16 doors by 2024, and 64 doors by 2025