All Forum Posts by: Mitchell Jaworski

@jay meola in my experience SFH rent just as good as townhomes here. We run a monthly coffee with investors meetup in delray. New and experienced investors. Hit me up if you want to join us.

@David Shapira I don't do short-term rentals so can't tell you exactly.   There was a statewide ban on vacation rentals for a while, I believe it has been lifted to some effect.

@Todd Wheatley ironically I live in Palm Beach County and invest up in MA.   However, out west in Worcester county cus those Boston area prices are insane.  Buying something down here as a primary residence still makes sense.  As a rental, meh.  Hard to cash flow but deals can be found with a whole lot of looking.  The areas you are looking to live are nice for the most part and B+ to A areas.  A lot of retirees in Jupiter, Gardens has much more of a mix.

@Remington Lyman job and population growth in South FL will also be strong (outside of a recession) as EVERYONE from the Northeast continues to move here in droves.   I don't know if the pop growth will be like what is expected for Columbus, like a doubling in the next 20 years.  It is why I started looking at Columbus to start.  My point was, if the cost of a property and rents are comparable to South FL I will always go south FL since there is no heat/winter worries and the average age of a home here is so much newer.  With that said, I like the areas surrounding columbus because it is more affordable than my local market.  Personally, my market is where ever there is a deal in the United States. :-)

@Remington Lyman yeah I started looking at C class in the suburbs outside of Columbus and had a visit planned and had to cancel when pandemic hit.  Within Columbus and especially B class the prices were same as what I see in my local FL market so makes it moot.

@Jordan Rhoads yeah, the "cash flow" markets as opposed to "appreciation" markets tend to have more at that price point.  In the end you can find a deal anywhere, it is just a matter of the work/time it will take.  I prefer to find path of least resistance and do more deals.

@Jordan Rhoads I'm in palm beach county and like the responses you got. Good and knowledgeable information. I'd like to take the other side of the coin though. As a full-time investor interacting with alot of other investors, most of us have been investing out of state the past couple years. Finding rentals where the numbers work is difficult, though it can be done. I only look at off market deals as MLS is thin for BRRRR opportunities these days.

The idea of using your HELOC is awesome. I have specifically used my HELOC three times over now to do BRRRR properties (one in FL, two in MA). Are you looking to buy something cash for the $82K? If so PBC, Broward and Dade county may not work at that price point, outside of maybe a condo.

Either way, the path you are planning to take is a good one, it has worked well for me.  Just gotta find the deals.

For in person Gold Coast.

@Mitch White my wholesaler buddy has 3 properties in lake worth now ready for a buyer.  I'll msg you.

@Joel Zwemer it is a tough environment right now for investment loans without a W2.  I'm in the same boat, good credit don't show alot of earned income as I'm a full time real estate investor. 

You will see the points and fees are usually higher than traditional bank loans for the type of loans we need, unfortunately part of the business. Normally I could negotiate them down a decent chunk but in the environment finding someone that is lending at any kind of reasonable LTV has been tough.

Today I'm talking to another lender up north who is pitching 70% LTV with rates starting in the 5's for borrowers with 700+ credit. This is for a loan on a property in my LLC where I don't have to show any personal financials. If I find anything worthwhile I'll DM you.