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All Forum Posts by: Matheu Santos

Matheu Santos has started 7 posts and replied 12 times.

Calling all Colorado Springs real estate investors! I'm in search of a new property manager for my first and only rental property, a townhome in Fountain, Colorado. Unfortunately, I've been less than thrilled with my current property manager and the rental has been vacant for the past two weeks.

As a member of the military community and a beginner real estate investor living overseas, I'd love to find a property manager who understands and values the unique needs of smaller investors like myself. I'm looking for someone who offers comprehensive property management services, is attentive to detail, and has a proven track record of success.

Have any of you had a fantastic experience with a property manager in the Colorado Springs area who values smaller investors like myself? I'm hoping to find someone who can help me fill my vacancy quickly and effectively manage the property moving forward. If you know of someone who fits the bill, I'd greatly appreciate a recommendation!

I know that finding the right property manager can make all the difference in the success of my real estate investing journey, and I'm eager to connect with other beginner investors in the Colorado Springs area who can share their experiences and advice. Thanks in advance for your help!"

Quote from @Jose Falconett:

Message some of the active Colorado Springs investors in this website on who they use.


 Thank you for your response Jose. Do you happen to have any recommendations?

Hi everyone! 

I am writing to seek advice and recommendations from the community regarding a property manager in the Colorado Springs area. I have a rental property (townhome) in the Mesa neighborhood of Fountain and have been working with a property manager who has been handling my property as an asset manager for the past year. Unfortunately, my property has been vacant for the past two weeks, and I feel like I am not a priority to my current property manager.

I am looking for a reliable property manager who can provide a more hands-on approach and can prioritize my property. Ideally, I am seeking a property manager who has experience in the Colorado Springs area and can handle the day-to-day operations. I am also open to hearing about your experiences with property management companies in the area.

If you have any recommendations or advice, I would greatly appreciate it. Thank you in advance for your help.

Best regards,

Matt

Post: ADU - Add value strategy

Matheu SantosPosted
  • Investor
  • Germany
  • Posts 12
  • Votes 6

Dear investors, I hope you’re doing great. I would appreciate your educated and more importantly experienced opinion on this matter. 

I’m looking to house hack in the Tampa Bay area, however prices are extremely high and affordability is at its lowest. Especially, for a father of two like me. 

In January of 2024 I’ll finish my active duty contract with the Air Force and leave Germany to start a life in Florida Tampa Bay  Area (Riverview preferably). My strategy would be:

- Find a 3 car garage single family

- The garage has to share a wall with the guest bathroom

- Convert the house into a 1 car garage by adding an ADU (The guest bathroom will become the ADU's bathroom, significantly lowering costs)

- Parking should not be an issue. Since the house was originally a 3 car garage, the spacious driveway will provide enough space for parking. 

Very straightforward hopefully. My only concern are ADU regulations and getting the permits to make this possible. Please give me your opinion. I appreciate you taking the time!

Post: How’s the multi family market in Florida?

Matheu SantosPosted
  • Investor
  • Germany
  • Posts 12
  • Votes 6
Quote from @Shawn McCormick:

@Matheu Santos Are you speaking of COC or ROI, they are different. Yes, with the sharp jump in prices since the pandemic, cash flow has been much harder to find, but it's there.

As a foreign investor, I would start learning what the requirements for getting loan approval would be, some lenders will be a little less stringent if it is a brokered product, but typically it will be 25% down (Canada is 30%). It is very common in our state as we have a huge foreign investor base here for people looking to invest or just park money. You will find that getting good financials and even access to the units will prove to be tough and also that many are charging below market rents still, so that may be something to consider when analyzing properties.

Tampa overall has many more multi family units than Orlando, but also more areas that would be considered C or below areas, just find an agent that is familiar with the specific area you are looking for. I would say to find one in Tampa and Orlando. Many will say the work both, but they usually won't know both well enough to keep you in/out of areas you may not be comfortable investing in.

Thank you Shawn. Would you mind telling me what you think about St. Pete and Clearwater. These two seem to biggest multi family market near Tampa. Thanks again! 

Post: How’s the multi family market in Florida?

Matheu SantosPosted
  • Investor
  • Germany
  • Posts 12
  • Votes 6

I'm overseas and want to invest in Florida, where I plan to live. From what I've seen on Zillow, from Tampa to Orlando, none of the multi families (duplexes, triplexes) have a decent CoC return. It's mostly negative! I'll start working with an agent in the next few months. What is a good course of action for a foreign investor? Any tips? Thank you!

Post: Can you sell your property with a tenant in it?

Matheu SantosPosted
  • Investor
  • Germany
  • Posts 12
  • Votes 6
Quote from @Greg Scott:

Yes.  I have both bought and sold properties with tenants in place.

That said, you may have a hard time finding an investor-buyer.  They will also be looking at -$300/mo cashflow. 

My favorite way to sell a rent property is to sell to the existing resident.  Because you don't have any rehab, holding time, or agent commission, you can give them a substantial discount off the price and still be better off than you would selling after they moved out.  And, if closing gets delayed, you are still collecting rent!  It is as win, win.  Hopefully your resident is interested and could qualify.


Post: Can you sell your property with a tenant in it?

Matheu SantosPosted
  • Investor
  • Germany
  • Posts 12
  • Votes 6

My property appreciated around 100k in just 2 years, which I bought with a VA loan with 0 down in Colorado Springs. I turned it into a rental and currently it cashflows $108 monthly after all operating costs. I want to take my profits and purchase a multi family in Florida with a much better ROI. If I refinance, I'll be able to get 90k, however I'll be negative $300/month. Would I be able to sell the property even though the lease is 5 months from ending? Should I just wait and pass on this opportunity? Thanks in advance!

Quote from @Scott Trench:

If you can find a lender who offers HELOCs nationwide on investment properties (on properties that already have a 1st position note like a mortgage), please let me know and we will attempt to make this lender as famous as possible. Many investors are having this problem right now. 

I think a lot of investors are struggling right now with exactly how to get equity out of their properties without taking on seriously expensive private debt. There aren't a lot of good options. 

However, here are few to ponder: 

1) Consider a 401(k) loan from yourself. 

2) If you have stocks after tax, like through Robinhood or eTrade, consider a margin loan against that stock portfolio. They can often be fairly low rate, and a good source of financing. 

Scott, you just changed my life. Borrowing money against my stock portfolio is the solution for all my problems. Thank you!

I live overseas, but I own a rental property which I owe 240k and is worth 345k. My goal is to apply for a HELOC for a downpayment on another investment property. Is it realistic to get at least 10k from this strategy? My goal is to raise 35-45k for a down payment but it'll take me 1 year and half or 2. Is there a better option out there? Thanks in advance!