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All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 95 times.

Post: I have REOs SFH in Florida real cheap!!!!

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38

Show me what you got in Saint Petersburg/Tampa FL

Post: Be careful what you wish for! 9 properties & coin-op by 26!

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @David Huynh:

I want this post to benefit those who are starting out in real estate and want to believe they can succeed.

Don’t take this as me bragging about my accomplishments (most people don’t even know that I own a real estate portfolio, outside of BP).

Real estate sucks. It really does suck when you first start out. My first 2-3 properties were the most stressful, sleepless nights, and almost sickening periods. After that, it gets a lot easier. I kept telling myself - it’s difficult to count to 29 but after 30, you just get it. I don’t remember who taught me that, but it kept me alive.

Real estate rocks, once you get it. After fumbling in the dark for the first couple of years everything is easier and it is smoother sailing. You’ll just want to keep signing on that line, over and over again.

For the past couple of years, it has been fun, exciting, depressing, hectic, and crazy. I finally get to say and announce to the world that I’ve achieved my goal – 9 properties and a business by age 26. My boss has always told me “Be careful what you wish for, you might just get it”

Here is my list:

  • Condo (1/1)
  • Condo (2/2)
  • Triplex
  • Single family (3/2)
  • 4 plex
  • Store front w/ two residential dwellings
  • 8 unit apartment
  • 4 plex
  • …. Finally my own single-family residence (closing March 31st)
  • Coin-op/dry cleaning business (no idea what I’m doing here)

Now it is time to 10X my goals, cause it does work! I still hold my full-time sales job, a steady relationship with my fiancé, and a newborn :). And yes, at times she wants to get rid of me if she hears about real estate.

There was definitely a point in time where I did not believe that this was possible, especially in my first couple of years. I was scared that I would flop and fail (still do today) but I continue to grind on it. I hope all of us, get to succeed, create wealth, be financially free, or whatever our goal is, makes it there. The BiggerPockets podcasts and community definitely helped me. 

Congratulations,

Real Estate is addictive, every time I talk to someone about it they just shake there heads I learned a lot and there is a lot more to learn as well, you can never learn..."Everything".

It's good to see a fellow BP succeed. I wish you and the family much success in 2016!

Post: Miami, Florida investors

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Yasmine Bisumber:

I know this thread is old but the prices here in South FL are out of control, "wholesalers" are marketing properties 10-14% ARV and on top of that most of them market the same exact properties. Best bet is running your own campaign and working from there.

Not all Wholesalers are created equal, if you would like experienced ones in Miami let me know.

Post: We NOW Lend Hard Money in HAWAII

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38

@Wendell De Guzman

Send me some info for Florida please, do you only lend Residential?

Post: Gaining Access to MLS

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Pete Perez:

@Account Closed

I would like access to that information as well. The market trends would be invaluable to have. The thing is a have a full time career that I don't intend on leaving any time soon. And it appears that in order to maintain that access I would have to give out thousands of dollars per year. Not something I am prepared to do before my 1st investment.

In a situation like that I would suggest you make friends with some Realtors. Local investment clubs should have them there. But consider becoming licensed...at least consider it. Here in Florida they are cracking down on unlicensed people doing deals.

Post: Gaining Access to MLS

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Pete Perez:

@Casey Boyle

See that setup makes sense to me. Either allow me to search for my own deals, and in return I use you as a realtor to broker the deal. I "pay you" for your services, but I am not wasting your time. Or in your case you have an automatic email listing. That also makes sense to me. I will try to look for a partnership like that. I guess at this point it is just a matter of searching for the right fit.

@Zach Kidd I had no idea about the fees associated with having a license. Now that I know that I think its best to search for a good partner as I mentioned before.

@Michelle Elsaid

Is this a national practice? For instance I live in CA, but am interested in out of state purchases.

I would also like to let you in on a little secret!

Here in Florida I have access to the MLS but I don't go on there looking for deals. In my opinion, (It also depends on what you are looking for) everything on there has been picked over. It's mostly retail buyers stuff. The MLS is VERY valuable for housing data and what is selling in a particular area, sales is the lifeblood of any Real Estate Investors business also it's a very good lead source and you can figure out what the market is doing as well. The data I look for will tire a Realtor out that is why I became one!

Post: Gaining Access to MLS

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Pete Perez:

Hello BP,

Not sure if this is the right forum to post this question, but I am wondering what are the requirements to gain access to the MLS? What is the application process like? Is it simply getting a real estate license and submitting an application or is it more involved? I am at the beginning stages of researching this topic. Any information is invaluable.

Thanks everyone! 

I was in your shoes and I contacted MANY Realtors here in Florida. The ones that I met didn't want to search for me so I got tired of asking all of the time and became a Realtor. If you are ethical you really don't have to worry about being sued much and if you are you are doing the right thing so you shouldn't have any issues! 

Post: Pre-license. Having to memorize all these things have me woried.

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38

I just passed my state test a few months ago and I agree with everything posted.  I would like to also add what I did to pass the test and maybe that will help:

#1 I took the class, I know how I am if I'm taking it online I would never be focused enough to give my full attention there is too many distractions in the home. Taking the class forces you to focus on what you need to do to pass and the teachers help a great deal.

#2 I recorded my voice going over the study materials and played it over and over in my car while driving. This is BIG, most people drive everywhere and while you are driving you can pick up a thing or two by burning it on a USB key or a CD and going over it.

#3 Pass the classroom test on the first try. Because if you don't, you have to wait 30 days here in Florida to take it again. When 30 days are up you forgot most of the material that you remembered. If you fail it a second time you have to take the class all over again.

#4 The night of your classroom test get a good nights sleep.....Seriously! The reason is because if you cram the night before..(like I did) I felt like a zombie taking the test and although I passed the first time I felt I didn't do as well if I were refreshed.

#5 If you are taking the online course buy the book Real Estate Principles Practices and Law by Linda Crawford and go over the entire book. I spoke to many people in the classroom that said they didn't get enough info taking the online course.

#6  Don't stress about the math too much.  The Math counts for about 10 percent of your total grade focus more on What chapter 475 is and the other laws relating to Florida Real Estate.  Good luck and if you have any questions that I can help answer let me know!

Post: Bugs get in the house during lease. Does landlord pay or tenant?

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38

Agreed,

If you value this tenant and they are good tenants I would do what I can to keep them. Why would you want to go through a turnover situation unnecessarily?

Here in Florida it's cheap to have the bug guy come out and spray.

Post: Cash Buyer Needs Wholesale Deals

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Account Closed:

I am looking for 3 whole sale deals ASAP. Northern Broward and Southern Palm Beach County's in Florida. 20 mile radius of Boca Raton.

Please don't send me comp deals on the MLS. I get 100 of them /day. I am looking for properties that have some meat on their bones. Pre-approved short sales, pre-forclosure, owners that need to get out of their home now.

The properties need to make sense. Investor friendly realtors welcome.

Thanks

Rob

 Hello,

What kind of spread are you looking for?