All Forum Posts by: Paul D.

Hello Everyone!

As I been doing much research past couple of months with this quarantine time I have had plans and thoughts with moving and doing a BRRR down in Florida. The area originally was Fort Myers BUT now I am liking the area around St.Petersburg and the town itself. I also like the Tampa Area as well. I am seeking info about the areas of Pinellas and Hillsborough counties. I plan on investing in multi families mainly duplexes, but possibly triplexes and quads if possible. Exit strategy will be ro refinance pull equity out and re-invest into same plan. Property prices I am seeking I want to be under 200k, but not an issue if 50k more.

-Are there areas to avoid? (such as hoods and what not if there any from)

-Which areas do you think have some good potential?

-Perimeter areas of St.Petersburg that may be good spots to look at? 

Basically I am asking for information that I should know of the area before I head down next week I have been looking at houses on zillow and what not and I google map them but that's as far of a research I can do. Now I want to take the next step and take action so any advice I will highly appreciate from everyone! Thanks in advance hope everyone is doing well with all that's is going on!

A price to rent ratio....is this the 1% rule you are talking about or something similar by any chance? Sorry if I don't understand.

 Awesome. What is your least amount of cashflow allowance per door/unit/home in your business model? 

Hello everyone!

I am looking at a few properties and have a strategy in place I want to utilize with investment properties mainly in multi-families. So My question to everyone is that when you see a house that attracts your intention, how are you plugging in numbers to figure out if it works to your strategy and you're making cashflow with out the bigger pockets calculator? Do you have a excel spreadsheet formula that you use? I am trying to solidify why business plan solely on the numbers and was curious of different ways to analyze properties searching zillow,mls,and other websites. 

Thankyou!

that's great man. Can I what brought you the attention of this property and also how did you go about with analyzing? did you use any type of strategy such as the calculator like the one from bigger pockets or did you guys have your own technique? I am browsing properties similar too yours and want to make it a numbers game as much as I can for a smart invesment. Thanks and wish you best of luck!

@Matt Nico I Wass understanding where you were coming from just from doing research of my own. From searching NJ in the passaic county, Bergen, and Morris counties it doesn't compare to as the amount in Florida ha. However, I did find a few that I might work the numbers with I just am unsure of the areas. I do like the SFR idea though and I will think about that and change my search. Thank you for your input!

I currently live in NJ and my wife and I are currently thinking of moving to Florida. If we move I am thinking of buying a duplex and working on a BRRR method. I have been focusing a little bit on the Tampa area which has our interest. I was looking for some advice from people who might know Florida much more than I. If Tampa isn't a good pick then which areas would you suggest in Florida. Thanks!

Update on this listing:

So I went today to meet with the Realtor to show the house. The inside of is is pretty much trashed (as expected). Hole in the walls, cracked wall, heavy odor in the carpet of pet urine, and etc. It needs extreme amount of work. The cosmetics is what isn't holding me back from the place. What held me back and has me thinking to just let it be and keep looking around are two things. 

-On the listing and the description it says "Buyer is responsible for all Twn/State CO/Smoke Cert Reqmnt." I am not sure if this is a red flag or extra steps for me to take. 

-Also when I was in one of the units I looked out of the back windows to take a look at the backyard. I saw that there was water in the back yard from a near by creek. Vision like a swampy look in the grass that is basically what it looked like. That is a huge red flag for me I am assuming and pretty sure that that will be future issues. 

Getting into this real estate investing game I do understand it takes a lot of repairing and what not and putting money into it and thats pretty much why I picked out this house. But I just get a bad feeling about the water in the backyard. I am a very ambitious and eager person and I don't want that to cloud my judgement. 

Am I being too cautious or is it a possible dump that can be possibly polished up. Now I know its hard for everyone to really understand because I am not disclosing all the details as of the roof windows and what not, but just to give everyone an idea it needs a lot of work. Everything basically. What type of mindset do you keep in a situation like this. 

Thanks!

@Bob B. @Brian Liscio

Hey Bob 

Thank you for the comment on my post. Yes I am, we talked briefly on the phone he said he will look up a little bit more of the history of the house and what happened with the past inspections and what not so ill know much more coming soon. Thats all great stuff to know I will be writing it down and remember that when I go meet and look at the property.

Thanks again

Brian Thank you so much for this information. I really really appreciate you gave me some great pointers Iwasnt thinking about such as the oil take. Thats great. I actually just learned that there is a section 8 tenant in one of the units already. Im still going to go look at it. I know thats not the best setup, but from doing my reading the section 8 can have its advantage and disadvantages. Advantages such as a guaranteed check every month from the government. Just have to go see what the scenario is with them I suppose correct me if I am wrong. Doesn't hurt to go still check it out right? Thanks so much again I will keep in touch once I learn anything else for sure.