All Forum Posts by: Mario Niccolini

Thanks for your insightful response! I really appreciate the well-rounded perspective you shared. Your point about market fundamentals and the quality of real estate really stood out to me.

I’d love to hear more about your approach to two key aspects you mentioned:

1️⃣ Market Fundamentals & Selection

• What key market fundamentals do you prioritize when selecting a market, and how do you analyze them?
• Do you have any specific data sources or tools you rely on for market research?

2️⃣ Building the Right Team

• You emphasized the importance of quality service providers. What’s your process for vetting and selecting the right people for your team?
• Are there any common mistakes new investors make when working with brokers, lenders, or contractors?

Looking forward to your thoughts—thanks again for sharing your expertise!

Quote from @David Atis:

AE zoning may possibly reduce your buyer pool, but if comps show strong demand and the house stayed dry and didn't flood during Hurricane Milton, that’s a good sign. Buyers may just factor in flood insurance costs. Some renters may hesitate, but if the rental market is strong and insurance is covered in your numbers, it can still work. I haven't seen anyone utilize an elevation cert to reduce the flood ins premium but it wouldn't hurt to reach out to insurance agents and see if it's possible. 

As far as would anyone do the deal, @Obed Calixte said it spot on. But especially with him being a Real Estate Agent in the area, I'm sure he has a good pulse on the market with buyers and renters in the area.

Thanks for the insights! I agree that demand and the house staying dry during Hurricane Milton were positive signs. Ultimately, the flood insurance costs and my lack of experience evaluating AE zone risks led me to pass on this deal. I appreciate the suggestion about checking with insurance agents regarding an elevation cert—definitely something I’ll keep in mind for future deals. Thanks again!

Quote from @Josh Ball:

Flood zone AE here in Louisiana is pretty much inevitable. It doesn't necessarily hurt resale here although you have to know that you're going to be required to carry flood insurance which obviously can skew some numbers.

Thanks for the input! Good to know that AE zoning doesn’t always hurt resale in your market. The flood insurance factor was definitely a key consideration for me. Appreciate you sharing your experience!

Quote from @Obed Calixte:

Most desirable areas in Tampa Bay are in AE or higher risk flood zones and generally sell for a premium for a comparable home placed elsewhere - all else equal . 

Areas such as Shore Acres flood with frequency and maintain high demand.  The latest storms have brought about heightened attention and buyers are more astute than years past with purchasing flood risk homes. How that will play out for long term values is unknown - however human nature has shown proximity to water is desirable. 

You didn't provide any numbers so can't answer if it's a good deal. With that said, it all comes down to your goals, your risk appetite and sufficient reserves. If the deal fits your parameters then go for it, otherwise skip it and find another.

Thanks for your insights! Really appreciate your perspective on how flood zone properties, especially in desirable Tampa Bay areas, can still hold strong demand despite the risks.

After weighing everything, I ultimately decided to pass on this deal—the price felt too high for the risk involved. Given my lack of experience in accurately assessing the additional costs and potential risks of investing in an AE zone, I felt it was best to step back and refine my evaluation process before taking on something like this.

Thanks again for your input! It definitely helped shape my thought process for future deals.

Hey BiggerPockets community,

I’m in the process of defining my investment strategy, and I’d love to hear from those with more experience.

I have enough capital to pursue one of these two paths:

1️⃣ Build a Single-Family Home Portfolio: Gradually acquire around 20 SFHs using the BRRRR strategy or focusing on positive cash flow properties. This approach would allow me to learn with each deal and minimize initial risks.

2️⃣ Go Straight to Multifamily: Instead of starting with SFHs, I could spend time learning the multifamily business and go directly for a 20+ unit building, maximizing scalability from the start.

I have no experience with either strategy.

If you were in my position, which strategy would you choose and why? Have you followed either of these paths? What challenges did you encounter?

I really appreciate any insights you can share. Thanks in advance! 🚀

Hey BiggerPockets community!

I’m analyzing a potential deal in Florida, but there’s a catch—it’s in an AE (High-Risk) flood zone. Hurricane Milton recently caused widespread flooding, yet this house remained unaffected. Still, I’m weighing the risks.

🔹 How much does AE zoning hurt resale value?
🔹 Does it make renting harder?
🔹 Have you reduced flood insurance costs (Elevation Cert, mitigation, etc.)?
🔹 Would you still do the deal?

Is this a hidden opportunity or a deal-breaker? Would you buy it? Appreciate any insights! 🚀

Thank you so much for your clear and insightful advice! Your response really helped me understand the key aspects of short sales, especially regarding title issues, lender valuation, and inspections.

I truly appreciate you taking the time to share your expertise!

Hey BP community,

I’m looking at a short sale property in Florida and considering making an offer. I’ve never done a short sale before, so I want to make sure I’m not missing anything important.

For those who have bought short sales before:

1️⃣ What are the biggest risks I should be aware of?
2️⃣ Any lessons learned or things you wish you had known before your first short sale deal?

Appreciate any insights! Thanks in advance!