Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Paul Strauss

Paul Strauss has started 4 posts and replied 63 times.

Post: Is it worth getting a RE sales license in central Florida

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59

There are a lot of pitfalls to having your license, not the least of which is falling into the real estate agent's mindset, and getting confused about what it is you really do.  I don't actually want to know, or think about what real estate "professionals" want to know. I'm an entrepreneur. I'm in arbitrage. i have CASH BUYERS who CLOSE.  

I focus on numbers, not "curb appeal". 

I don't do open houses or bake cookies. I'm motivated by PROFIT, not commission.  

If it makes a person uncomfortable that I don't have my commissioned real estate sales agent's license, and they have months to wait around for a realtor to  list and sell their $200K house at a massive discount for $194K, fine. Do it.  

If, however, you are truly a seller in distress, and you don't have months to wait around for a realtor to do what I can do in days or weeks- you will be very HAPPY to meet me, and you will JUMP at the chance to sell me your house IMMEDIATELY.  

In my opinion, licensing presents a whole different set of incentives which can serve to distract you, and confuse your sellers.  

Post: Wholesaling in Brevard?

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59

For all others- if you are a genuinely distressed seller in need of help- if you can't afford your house, you're behind on payments / taxes; uninsured; or you're a burnt out landlord with tenant / eviction issues; facing job re-location, divorce, or life has otherwise happened to you-- maybe you took advice from how to invest in real estate from some message board, and now you've got a dog or dogs you need to unload?-- I have CASH BUYERS ready to go NOW; In addition, I also have a waiting list of tenant-buyers with deposits and/or option consideration ready to go in the BLOOPS- Brevard, Lake, Orange, Osceola, and Polk Counties.  I have a business associate in Tampa that buys for cash in that area as well- though I'd just be referring you over free of charge because he's a friend of mine.  Don't let that distressed property nightmare go on one more day longer than is necessary. Get it gone!

Post: Wholesaling in Brevard?

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59

I'm in Brevard, and a wholesaler throughout the BLOOPS- Brevard, Lake, Orange, Osceola, and Polk. (I also go down to Palm Beach County because I routinely conduct certain other business in Delray Beach, and Boca Raton).  I just updated my profile because my approach has been a little too successful (it breaks my heart to tell people, "no", and I refuse to string people along) and I'm looking to add up to three more CASH BUYERS to my list who want to acquire 1 to 3 single family homes per month.  Understand that when I say CASH BUYER, I mean CASH BUYER, money in hand, ready to close.  I'm not looking for a wholesaler misrepresenting themselves as a cash buyer who just wants to shop my deals, and I'm not interested in your hard money or other financing contingencies. (In fact, I have my own hard money and other private financing-- if I'm going that route- I'll keep the deal and do it myself). 

Let me know if you (or anyone reading this) wants to acquire 1 to 3 houses WELL BELOW MARKET PRICE each month. Note that working with me is not amateur hour- I am not going to try to assign you contract for a $100K house for $90K.  Our worst offering is 30% below market, but our typical offer is 50% to 60% off market-- and we don't use Zillow for our valuations ;)

Post: Depreciation still possible?

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59

https://www.irs.gov/pub/irs-pdf/p527.pdf

Post: New Member from Fort Myers, FL

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59
Originally posted by @Jeff Tumbarello:

Welcome to SWFL. Coffee is always on if you need some insight on the market and its modalities.

 I was just about to recommend you.

Post: Where to start?

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59

In your conversations, have you figured out if your local area rental property owner is looking to grow the portfolio? If so, there's an ideal buyer right there. You could go get something under contract and assign it for a profit if you know his criteria.

Post: Building a 4-plex instead of buying one...

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59
Originally posted by @Thomas D.:
Originally posted by @Rodney Smith:

Just my $.02 but I personally live in the Oregon (Bend) area and have grown up here and all my rental investments, etc. are out of state. I find that i'm getting much better cap rates elsewhere. Oregon has a low pop. density and I find that in the market conditions (currently as of 1/12/16) , that good rental areas or higher density areas with good renter pools are overpriced and offer low cap rates. The areas that have attractive pricing end up being places like Pendleton, Hermiston or Madras, etc. and have IMO a poor renter pool / pop. base. 

I personally house hacked a 4-plex myself when starting out, but I bought for $192k in 2012 ... theres no way I could do it right now. Having said that, i'm sure there are many who are craftier than I at acquiring good deals.

Although I will acknowledge that if your starting out it is much scarier (and impossible to 'house-hack') when working out of town. I would suggest that if you want to pick PDX to be your market that you operate in, then take a close look at what REI strategy lends itself to that market and pursue the path of least resistance, rather than trying to force your strategy on a given market (not saying thats what your doing). I spent a few months scouring the I-5 Corridor looking for buy-n-hold rental income props and couldn't find anything to get excited about, but now we are closing on 16 units out of state and will have a 14%-18% cash on cash return / cap rate given 75% or better occupancy. The numbers are there, but definitely require a little more initial startup efforts if going out of state.

Just food for thought. But I will say, if you can come up with something profitable in the valley area now, then it will likely pay big dividends later (or built in equity) that I wont get in my out of state portfolio.

Whats a house hack? You just splitting up the house illegally? I see nothing wrong with that.

 Yeah- there's nothing so irritating in the creative RE world as all the invented terms floating around. 

Post: Wholesaler from Tampa, Florida

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59
Originally posted by @Steven Morales:

Hi everyone, my name is Steven Morales, I'm 25 years old from Tampa, FL. I'm currently working as a loss consultant for a Roofing company and work on my REI on nights and weekends. I also plan on getting my RE license within the next few months so I can earn money while getting a hands on education in the world of Real Estate. It wouldn't hurt to get my license and at the same time it will help me plot my career into Full time REI.

I'm glad to finally become an official member of Bigger Pockets. I heard about Bigger Pockets from someone in one of my social networks. I first got in involved in the REI game back in August of 2015 after winning a contest on Periscope. I have been surrounding myself with like minded individuals in my community as well as social media.Im also building relationships with others in the local real estate investing market where I am.

Ever since I have started, I have been absorbing as much knowledge as I can and taking action. I have read the book Rich Poor Dad (As most of you probably have or if not,should!) and it has really changed my mindset and push me closer towards to reaching my goals.I must say, The book on Investing in Real Estate with No (and low) Money Down by Brandon Turner is awesome. I love the Podcasts as well, I am always listening to them as I am in the car. I listen to the  BP podcasts more than I do music!  Thank you @Brandon Turner and @Joshua Dorkin! You guys host awesome shows.

Right now my niche is wholesaling. I have been focusing on this field ever since I have started  and will use it to open more doors  and opportunities to me in the world of REI. Im always open to gain knowledge from a mentor. I am very excited and looking forward to have the BP community on helping me reach my goals and really take my game to the next level!

 Welcome. I work for satan as far as you're concerned (I am an Independent Claims Adjuster). We both have the perfect line of work for farming communities.

Post: which area in FL is great for flipping currently

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59
Originally posted by @Jeff Tumbarello:

Every area is great if you have the right deal. I try to focus on end user areas with a high percentage of cash sales. Cash end buyers make for easy deals. Its all about the exit (once you buy it right, LOL)

 Exactly. There's no practical limit to the number of viable flips out there- at least I have not met the buyer who was in a financial position to exhaust the opportunities available.

Post: My first investment in the U.S rental property

Paul StraussPosted
  • Wholesaler
  • Melbourne, FL
  • Posts 72
  • Votes 59
Originally posted by @Kevin Jettoo:

hello BP,

I'm thinking about moving to the U.S and continuing my Real Estate journey. I currently have 4 multi-home property in Georgetown Guyana.

Any advice would be very much appreciated, I haven't fully decided in a state in which i wanna start. 

My thinking single family homes in Florida. 

 In my humble, but totally biased opinion, Florida is a GREAT place to start investing in the United States.  Are you thinking about another multi-family property? Have you considered other countries besides the US, but perhaps in the neighborhood- e.g. Costa Rica, Nicaragua, or the islands?