All Forum Posts by: Nick Fiammetta

I found a property in Broward County, Florida that would need a complete renovation. It's a 3 family (3/1 x 2 and 1/1) in an area that is growing, close (walking distance) to the Downtown area (bars, restaurants, etc) and also surrounded by newer construction or rehabbed older properties bringing in young professional renters.

My main question is: would I be able to get a rehab loan similar to those offered by the FHA for SFRs? I thought there were similar loans, but capped at a renovation cost per unit.

Just looking at the listing each unit would need to be taken down to the studs; new small bathrooms (3 total), new small kitchens (3), flooring,... not sure what else, but the listing says "fixer upper". The total sq ft of the property is about 2400.

I'm not sure of the total cost of the renovation - so feel free to chime in if you have a general idea per sq ft. 

By code and with permits would be my preference. 

I'm looking to invest somewhere in FL, but the market in South Florida (where I live) seems to be too competitive.

Initially I was interested in SFRs, but after doing some research I see that condos in the Orlando area appear to be priced low (relative of course) where you can potentially get into a property from $75-100 per unit. I would need to do a bit more research on the areas of course, but wondering if anyone has any experience in the condo market and what type of rents can be achieved.

Hey all,

I'm interested in investing in Rochester. Specifically in the city where there's some historic value to lots of the homes. I know the city has its downside, but I'm curious if there's opportunity here.

A few questions:

Are there neighborhoods I should be looking at?

What should be avoided?

Anything I should know about the market currently or future outlook?

I would look to buy, reno and rent (or at least hold for 5-10 years), so a good contractor would be nice to have also. Recommendations appreciated. 

I'm open to SF homes and mult-fam.

Any info or advice is always appreciated.

I'm in the "learning" phase of investing and would like to start doing some research city by city. Are there any under the radar cities or up and coming areas that have lots of good inventory?

I live in South Florida (where there's not much inventory under $200k), but would be open to cities like Nashville, Birmingham, Detroit, Central Florida and more.

I would be open to renovating a single fam home and renting it out vs. a flip.

Any advice for a newbie would be appreciated.

This was the first ever post I read on BP, and I can say that I am now a fan.

Congrats on this deal.