All Forum Posts by: Mike DeBuccio Jr.

@Damon D.

Hey Damon, sorry to hear about that condo that you are under break-even in Tampa. Where is it located, how much did you pay for it, and what's the market value now? 

Multi-family rentals are the way to go for constant cash flow for sure. Area's over near Orlando (Polk County, Lakeland) are really up and coming spots for buy and holds. 

With that being said, looks like you have the right mindset and are well on your way to purchasing your first property. If you'd like to chat don't hesitate to reach out man!

Best of luck

Hey BPers!

Looking for some feedback from investors who purchase investment properties from out-of-state! What makes the property a deal if you are an investor purchasing from out of state? What are you looking for in particular? Block vs. Frame, Flood Zones, ect.

Excited to see what y'all have to say!

Hey BP World!

I have found that many of my investors have been having issues with fraudulent private money lenders down here in Florida.

With that being said, I was wondering what types of precautions can be taken when dealing with a private money lender.

Any feedback helps!

Hey BP World!

I have been very active on BP since discovering this platform over a month ago! Many investors/ REI professionals I've connected with either operate in the Tampa/St. Petersburg area, or over in the Miami area (Fort Lauderdale, WPB, ect.)

Trying to get some feedback regarding the positives and negatives to investing in both areas! 

Looking forward to a good discussion!

Hey @Brian Garrett,

Thanks I appreciate that. Seems like you are an experienced investor down here in Florida, looking to learn more from professionals like yourself!

@Luis Vilar Thanks Luis! Absolutely man keep working and you'll get that first deal in the bag. But for sure I will keep you in mind over there in West Palm Beach, we are expanding throughout Florida within the upcoming year. 

Cheers!

Mike

@Roderick E. Absolutely, that is a tough market to crack over there, but the deals are definitely around! And yes my company is actually going to be expanding towards Miami, Jacksonville, and Orlando within the next year or so. Florida has so many up and coming area's ideal for investors to get into. Thanks for sending that event I will definitely check it out, I'm looking to network all around Florida.. can never have enough connections!

Hey @Roderick E..

Awesome welcome to the REI world! BP is most definitely the spot to make solid connections and just become all around more knowledgable. And thanks I appreciate that, Tampa is a very exciting market for sure. Are you starting to wholesale or invest over there in Pembroke Pines? Keep at it and best of luck with closing your first deal my man!

Thanks @Olivia Jones! I appreciate the support. Best of luck to yourself as well! Real Estate is a very exciting industry, I already have two sales under my belt within the first month, its awesome finding projects that your investors want to take on!

Hey everyone, I actually replied to another forum about this topic but that forum didn't get much responses.

Zillow has been planning on coming out with this for awhile. In the sense that they will be buying and flipping properties, that may slightly effect the wholesale industry, but where are they going to get these properties? The best deals are off market- directly from the sellers, and unless Zillow is going to be actively door-knocking, posting craigslist ads, ect, I cannot see them finding these great deals like wholesalers myself find. 

If they are planning on selling "wholesale properties," I don't believe the margins on the properties they will be offering will be large enough for investors to even consider. It may definitely get in the way when it comes to beginner investors looking immediately to Zillow or Redfin for properties and property values (as they usually do), but for experienced investors I believe they will be able to see right through their deals.

I'm sure Zillow will launch a massive marketing plan for this platform, and will catch the eyes of many. I think the best approach to this situation is when dealing with (beginner) investors who are referencing properties they have seen on Zillow, show them the margins of those properties compared to properties you are have available. That should provide a quick ending to their arguments.