All Forum Posts by: Sean Gallagher

Yeah people were scooping them up for 60-80k, now theyre at 140+

I agree the city is great for growth, but I'm in it for the flow & I don't want to be in a ghetto.

I'm sure they go extremely fast. I can't operate a rental for 100-200 flow a month in my price range. This market here isn't what it used to be as for prices go, I missed the time to buy. Almost everything has an HOA. Numbers look great till you see how much the HOA is. I've come across a good 5 homes that I had to dig into and found they were on sink holes. It's hard to compete when you're negotiating and someone comes along and gives seller full asking price. So..I'd rather get into a market with a newer turn key home that isn't far off from my goals as for flow goes. If the market crashes down here I'll be ready.

About right, nice one

Well, the market down here in Florida is hot for a seller, I'm moving on, I don't think I want to buy here any more.  So now I'm broadening my search.  I'll go to another state.

Alright looks like I got 85%, signing the papers next week then onto next purchase.

I didnt want to post this but I'm having some trouble here finding a focused area where I want to get a long term sfh portfolio going. I have a nice flowing property in Delaware and I'm ready for another. I'm open to all areas of Florida with little to no HOA. I know HOA's are huge around here that makes it tough. I'm looking for a 3/2 with 1-2 car garage, simple home, the 1% rule is somewhat close to my goals as for flow that I'm aiming for. Any help I'd appreciate it.

I’ve owned the property now since like May 2016, if wsfs doesn’t approve I’ll try someone else. 

Also if anyone is reading this curious about financing it doesn't appear that most banks will give you any kind of lending on a condotel.  Reason for some of them being priced a little low I guess.