All Forum Posts by: Robert Saunders

Hello all. I'm a South Florida Realtor & Investment Analyst. To the investors in the Keys, I would like to know how/if you were impacted by the Hurricane that hit the year before last. I know some businesses that were completely wiped out. How has the area in general been recovering and how much is the potential of another major hurricane factored into your investment underwriting?

Thanks for asking @Tunde Ayantola! My last deal was in the Kissimmee/Orlando area but I am typically working the South Florida cities in and around Broward County. However, as an investor and investment analyst, I frequently analyze and learn markets outside of that radius. For instance, I have worked on deals from Boca Raton to Delray Beach, from West Palm Beach to Port St. Lucie to Fort Pierce. Because I am more of an Analyst than I am your local Realtor, I lack that in-depth local  knowledge than someone who has lived/worked in a single market for many years; but I make up for it by being able to piece together a local story through my understand of metrics and trends. By this stage of my career, I have written an OM for a property in just about every major Florida market and many of the smaller tertiary markets as well. I say that only to point out that I know enough to be dangerous in any market.

I'm all about sharing with and learning from other industry participants and professionals. I'd be more than happy to chat with you further. I'm sure there's plenty we can learn from each other. Thanks again for responding.

Just recently got my VERY FIRST commercial real estate transaction closed as an agent in South Florida. As much as I celebrated that moment for its significance, it's also motivated me to create that next moment. I am looking to interview for the business of new clients. I am fortunate to have a great team behind me that helps me use my skills in an efficient and effective way while understanding how to best impact the bottom-line for all stakeholders.

Relevant Qualifications:

• - 4 Years as Real Estate Investment Analyst in Private Equity & Brokerage
• - Master of Science in Real Estate Development at NSU
• - Bachelor of Arts in Business Administration, Finance & Project Management
• - Freelance Underwriting Consultant & Excel Expert
• - Understand the investment criteria of all real estate asset types
• - Understand syndication and most waterfall profit splits
  
• - Motivated to continue making my mark on this industry and the people I cross paths with 
• - Also looking for equity partners to build profitable portfolios with

Let's discuss ways that I may be able to help you, or someone you may know, accomplish your investment goals. It would be "My Pleasure" (yup, just as good as Chick-Fil-A!). Lol.

You may message me right here through the marketplace or directly through my BP profile.

Best Regards,

Glad to see you are having success with your investment property. Did you go into the property knowing it would be an investment? If so, how did that impact your selection process? If not, what would you have done differently if you were buying it as an investment?

I would love to know how you ended up getting the property for $100. Please share the strategy.

I'm no expert on NJ law, but I'd assume that you'd need to honor the tenant's lease term if they have a signed lease with the current property owner. New Jersey is known to be a Tenant-Friendly state so it is hard to think they would allow you to override their lease because you want to occupy their unit. Offering a buy-out to the tenants should go a long way in convincing them to move; however, even if there is no lease in place, I'd recommend having a conversation with an attorney before you buy the property to understand what options are available to you with that tenant. 

Hey @Joseph Turnquist! I agree with the comments given by both @Christopher Hunter & @Theo Hicks. To get the best financing, you'll want a better credit score for sure, but you don't have to "wait" until that happens to get started. Use the tools available to you to begin teaching yourself the ins & outs of REI so that you can answer some of the critical questions Christopher and Theo mentioned. As you begin to answer those questions, start analyzing deals. Learning how to effectively analyze a potential investment is essential to your success as an investor, and the more practice you have before you actually make your first investment will make it that much easier. You honestly don't need a great credit score to get started in REI; it's helpful but not necessary. You will be able to secure financing with your current credit rating but it will cost you more than someone with a better credit rating. You'll just need to factor that into your analysis when you are searching for your deals.

Hello BP Family! Posting to share with everyone that I am an experienced REI professional and I am looking to offer my consulting services to both new and experienced investors here at BP.

A little professional background info on me:

- I have a Masters in Real Estate Development

- I have a Bachelors in Business/Finance/Project Management

- I work as a Real Estate Investment Analyst in Miami

- I am a South Florida Realtor (I work with sellers & buyers)

- I am a Financial Modeling expert

- CCIM trained

- Founder of Legacy Real Estate Investment Solutions

My goal here is to continue building my real estate network and experience. I am passionate about this industry and I am hungry to learn from experienced investors while sharing what I've learned with all investors. I am also interested in partnering with active investors. I am still relatively new to this industry but I bring exceptional experience and energy to the table for my clients and partners.

It wouldn't be me if I didn't mention that the most important thing I bring to the table is that I am a father to two great little dudes that give me all the energy and motivation I need to continue striving to be great in this industry. Thanks for reading. Feel free to ask me any questions you want. Let's do business together!

The old adage in real estate is "Location, Location, Location". At the same time, every investor has a different tolerance for risk. A "Bad" location typically translates into lower rents, more tenant-related issues, and potential safety concerns. None of those are guaranteed but the probability for risk associated with them is inherently higher. Men lie, women lie, but numbers don't. If you can truly substantiate your numbers with local comps then you'll prove that it can work. You just need to be weary of the peripheral things that may be tougher in a "Bad" location, such as finding a quality tenant, collecting rent, getting the property to appraise right for your refinancing. You also need to think about the long-term outlook of the neighborhood and the direction it is heading. Are there new jobs being added, what new developments are being done in the area, is there a CRA in place, are rents rising, what local services are available for potential tenants. What's your exit strategy? These are some things that you should definitely consider, bad neighborhood or not, to determine if you are comfortable investing in that asset.

SN: Sounds like it's in Lauderhill or something (lol).

As it's been said above, my recommendation is also to focus on learning HOW to analyze a deal. The numbers don't mean much if you cannot put a weight to them. BP and other online platforms have tons of resources that may help you better understand what factors are most important in REI. In general, a house (1 unit) is cheaper to get into and provides good cash flow. With one unit, though, that cash flow is supported by one tenant so your property is either 100% occupied or 0% occupied. The more units you add to the property, the more it will generally cost to acquire it; however, the revenue has less risk because it is supported by more tenants. Meaning, you may still be able to still turn a profit even if one unit goes vacates for a while. There are plenty of advantages and disadvantages to owning both asset classes but you've got to take the time to weigh them against each other. One rule of thumb I see floating around here on BP that you should consider is called the 2% Rule. What it means is that the total rent you can get every month should be at least 2% of your purchase price. If you have a property that has these types of numbers then you have a good starting point to begin your investment analysis. I hope this helps you a little.