All Forum Posts by: Matthew Cullum

Sorry as in overpriced and due for correction

I checked the ten-X website and their research suggests Miami is in the top 5 fallers in the US for multifamily growth but Fort Lauderdale is top 5. 

And what return are you having to pay investors? A lot more than you would for a mortgage, then if things go wrong you'll have a lot of angry people knocking down your door.

I understand what you are saying about the cap rates but I think if you do a lot of digging you can find realistic 8 caps in Florida.

Another question what kind of price per unit do you target as I am an overseas investor I'd like to stay away from the class C properties where I'll be getting daily issues that these bring and evictions etc.

This is a great analysis!

One question I had though, when factoring in say 4.5% interest rate on 75% loan to value and some interest for investors money you might use- how can you make any good income if you are only getting a 5-6% cap?

Presumably you'll say value add and local market appreciation. But you'd have to add a whole lot of value to each unit to bring your cash flow to a decent level and yearly yield. What yearly yield are you actually targeting on a 5-6% cap after mortgage interest?

Hey,

I just wondered if anyone had any views on West Palm Beach as an area for multi-family property growth?

Thanks

There's two responses that are at compete opposite ends of the spectrum. I tend to be too positive about deals and not looking at the worst case scenarios so should probably steer towards Marc's response. But then if you can get a good cash flow deal with up to a 10% cap I suppose what is the worst that can happen.

This a really helpful thread thanks David. One question i did have for anyone who might know, aside my inner circle of contacts how do you go about getting in front of accredited investors. Is there a source for leads or is meetings/conferences the best method? Whilst staying within the financial regulations etc..

I've just seen this post about brokering multi family deals. We are buying multifamily in Florida right now and would love to see what opportunities you have .

Thanks

I see so essentially you are saying concetrate on the existing cash flow and the ability to increase cash flow...