All Forum Posts by: Robert Haynes

Hello Investors!

I hope to see you this morning for our Saturday workshop and site visits!

We supply light refreshments, handouts and pens. After the workshop we go to a potential investment property and let you evaluate it with other investors.

We do an after action review and share what we discovered and determine the purchase value, repair cost, determine if the property is a Buy to Hold, Flip or run like heck.

The site visit gives you the opportunity to hone your investor skills as an investor with the support of experienced investors and a general contractor.

This week we have our video and some new homes!

As always, we meet at the office at 10AM for our introductory video and we will meet at the first home at around 11:30 (2921 NE 17th DR)

1. 2921 NE 17th DR -- $109,900

2. 2215 NE 15th ST -- $89,900


For further analysis, I'll see you at Invest Gainesville!


Robert Haynes
REALTOR
EXIT Realty Producers
Cell: 386-315-6181
Email: [email protected]

Office Address: 3600 NW 43rd ST, Suite F-1, Gainesville, FL 32606

Hello Investors!


I hope to see you this morning for our Saturday workshop and site visits!

We supply light refreshments, handouts and pens. After the workshop we go to a potential investment property and let you evaluate it with other investors.

We do an after action review and share what we discovered and determine the purchase value, repair cost, determine if the property is a Buy to Hold, Flip or run like heck. 

The site visit gives you the opportunity to hone your investor skills as an investor with the support of experienced investors and a general contractor.

This week we have our video and some new homes!

As always, we meet at the office at 10AM for our introductory video and we will meet at the first home at around 11:30 (2921 NE 17th DR)

1. 2921 NE 17th DR -- $109,900

2. 2215 NE 15th ST -- $89,900


For further analysis, I'll see you at Invest Gainesville!


Robert Haynes
REALTOR
EXIT Realty Producers
Cell: 386-315-6181
Email: [email protected]

Office Address: 3600 NW 43rd ST, Suite F-1, Gainesville, FL 32606

Hello!

If you're looking for a meetup in the local area, consider Invest Gainesville. You can find us on meetup.com 

We host 4 meetings a month and try to give folks a basic introduction into investing in the local area. 

Have fun!

Robert Haynes

Realtor

Florida isn't homogenous, unfortunately.

Some questions :

What kind of returns are you looking for? 10-15%? 25-35%? 

Your budget is 200k. Are you looking to start small (<100k all in), or are you looking for one large deal?

How are you looking for leads? MLS? Networking? Farming?

Personally, I'm a realtor in Gainesville, FL which has some local features that are excellent for buy-and-hold (multiple hospitals and multiple colleges). However, if you're looking to flip, you're going to want to make connections with as many contractors/sub-contractors and property managers as possible before spending a penny.

So before you decide where you are going to invest, check out some investment clubs. Invest Gainesville, MCREIA (Marion County Real Estate Investment Association), Jax REIA, Central Florida REIA, and Tampa REIA. You're going to put a hell of a lot of miles in your car, but if you attend a couple meetings for each, you'll have a much better feel for each area and the resources available to you for investing.

Good luck! Have a happy, healthy, and productive day!

Robert Haynes - Realtor
EXIT Realty Producers
Co-Organizer: Invest Gainesville

It honestly depends on the type of investor.

I find that working Fix-and-flippers, Buy-and-Holders, Commercial, and Land development clients is a real joy, imo. 

If you treat them right, they will come back.

However, you simply must make sure that the investor that you are working with is serious. Your time is money. 

@Joe Villeneuve 

I totally agree with your assessment (maybe I wasn't clear). 

Tie up 25-30% of the purchase price in a project so that you can still purchase other properties! Doesn't effect the cap rate and gives a better cash-on-cash return.

We're on the same page :)

When you have money to spend on buy and hold properties, I would definitely recommend NOT utilizing it. Or at least don't finance it 100%.

Why? You will limit the amount of properties you can purchase. As a general rule, your dollar today is almost always worth more than a dollar tomorrow. 

So I would FIRST explore means of financing your deals outside of your own money. Annie Mac offers some great financing tools for investors (my favorite is their ability to finance as many homes as you want so long as you place 25% down [I am NOT A FINANCIAL ADVISER!]) Here in Gainesville, FL we have communities of retirees, veterans, people who want to see a greater return on their IRAs and CDs, etc. There is a LOT you can do!

Do some research first and get cracking!

Glad you enjoyed it! I'll see you out there Saturday :)

Here's Forbes list of cities with great rental returns:

http://www.forbes.com/sites/erincarlyle/2015/01/09...

Second, here's MY formula for finding an out of state city to invest in. It must have 3 of the 4 following criterion:

1. A college

2. A VA Hospital

3. A Research/Hospital

4. No INCOME tax (and lower or NO property tax)

Gainesville, FL is my personal preference...but of course, I may be biased :D

There are different schools of thought when it comes to financing without using your own money.

In my opinion (and I am NOT a financial advisor), I search for financing in the following order:

1. Credit Union Financing

2. Bank Financing

3. Private Money Financing

4. Hard Money Financing

Those tend to be the least expensive to most expensive sources of money. Availability does depend on your credit score (or SOMEONE'S credit score...hint hint).

You can also apply for and FHA loan at 3.5% for a 2-4 unit multifamily dwelling, have property management rent out other units, and live in your unit for free. Often people think this will mean you're living in a 2/1 apartment, but I would look for attached townhome style quads (seen some under 125000 in my area that rent out each unit for 850-900 a month...do that cap rate!)

Anyway, I hope that answered your question somewhat. I would definitely go see a financial advisor OR simply network without investors in your community! Use the network tool on BP or using meetup.com

Good luck!