All Forum Posts by: Nolan C.

There are more effective ways to accomplish this. I agree with a 3 strike rule.

@Sam Chicquen

Sam, little late to this but I’m an investor/agent based out of Tampa Florida.

I like Tampa and the surrounding markets for its cash flow and appreciation potential.

There are still a ton of mom and pop investors that own commercial multi (5+) and I’ve had some good luck connecting with these owners and purchasing from them.

The last deal I did was a commercial off-market value-add multifamily and was able to secure seller financing.

Downside is flood insurance has gone crazy down here and can really kill some deals.

Happy to help you with your search.

Congrats on your purchase. You can attend the monthly REIA meetups, some meetings are hit or miss but it's a good place to find fellow investors, lenders, wholesalers etc. I know there are a number of meetups in St. Pete/Tampa and I believe bigger pockets even has a tab for this. If you can't find this tab DM me. @Gabriel Martinez

Make sure you get copies of the leases and tenant proof of payment for the past few months. There is a reason the seller is giving you a deal and the tenants you are inheriting might be that reason.

Nice job on finding the deal and pushing for seller financing. 

I think Robins advice comes from a good place but if this is a really solid deal you should keep pushing for it. If you buy a duplex and cant fill one of the units, your at 50% occupancy. Atleast with 30 units you benefit from economies of scale.

Is there a way you can work a deal with one of your investors who does have the capital/track record and have them get financing?

You found the deal, and if you could manage the property and the renovations you are adding a ton of value. This would be my approach.

Best of luck.

@Jake Warren

Local agent here in Tampa and wholesale in Jacksonville, Orlando and Tampa markets.

Many good points in previous replies, Tampa, st. Pete and Clearwater are all still very hot markets however investors are having an easier time negotiating/getting deals under contract with recent market shift.

I’m seeing a lot of regular folks getting priced out of these markets and investors are pushing north/south to find LTR deals that work, places like holiday, new port richey, Brandon/Bradenton.

Cap rates are still relatively low for multifamily and you’d need to look at value add plays to get above a 7-8 cap.

If you end up looking in the Tampa area send me a DM and I can help in your search.

Best of luck

@Samuel Jolicoeur

Samuel, I’m a licensed realtor and work for a wholesale brokerage here in Tampa (my brokerage requires you to be licensed). I’ve wholesaled a couple of deals in your territory.

I was in your shoes about a year and a half ago, deciding which route to go. I chose to focus on wholesaling and am glad I did.

Both wholesaling and being a retail agent are time consuming so you have to keep your end goal in mind.

If you have any questions feel free to reach out, hope to do a deal together in the future!

@Frank A Castro

New agent.

@Marc S. 

I'm a licensed RE agent here in Tampa and work for a wholesale brokerage. My company picks up a fair amount of flips/rental opportunities in Ocala. Its more rural than most areas surrounding Tampa so you can find houses at some solid price points but rental income wont be as high.

Surprisingly enough its actually the horse capital of the world, I've worked with a few investors looking to find Airbnb opportunities to cash in on some of the events that come to Ocala due to its large equestrian presence.

Khaled, thanks for putting these together, are we still trying to stick to every third Wednesday of the month? Want to make a note moving forward