All Forum Posts by: Tyler Hardy

Where is this property located? Sometimes in commercial properties you may have a tenant right around the corner that needs to expand but doesn't have the available space. Also, have you listed it anywhere? I personally don't deal in commercial retail space but part of my day challenge job is working with the property owner and landlord of the building that we occupy. I was just recently in the market to move this location and it proved difficult to find an available space that wasn't listed on some service through a broker, such as Loopnet.

Have you considered the idea of offering up for subdividing? You may not be able to find a tenant for 19000 square feet, but you may have an easier time in a small town finding multiple tenants yes the cost of construction justifies overall Revenue.

@Josh McCullough it's good to hear from a familiar name! I had no idea that you had moved up into multifamily. I'm interested in starting off there myself. We should touch base whenever you have the time!

@Leah Lim that sounds like a great deal! I can't think of another way you could buy one acre of property for $25!

On the other hand, if you're seriously interested in that type of investment, I have some oceanfront property in Arizona we should discuss....

I've actually looked into this in both directions. I found a 50 unit in an upper scale neighborhood consisting of all 1/1's that could have higher rents and lower vacancies as a 25 unit of 2/2's. In that case the gross rent would stay the same but the vacancy would stay closer to 100% consistently.

In another situation I found a 44 in a college town that could be turned into an 80-90 unit by converting maint of the units to studios and 1/1's. The issue was the price was to high to justify the construction.

I think it's a fair strategy if it's research properly. If the numbers line up, there are some benefits to it. Just keep in mind that changing the number of units can hurt you in situations just as much as it can help you.

@Guy Pierre

I'm still new to real estate investing so I may not be able to offer you expertise advice on certain topics. What I do know however, is the local market. I grew up in McDonough and I now live outside of Griffin but I work in Macon. I'm very familiar with the South Atlanta markets and I love helping out wherever I can. Send me a direct message and I will send you back my phone number if it's easier for you to Simply call or text.

@John L. Knight

First off I'd like to say, congratulations on the graduation! The best piece of advice that anyone can give you is to never stop learning. Even when you have 100 properties under your belt, you will not be an expert. Make sure you educate yourself in every way you can soaking up as much information as possible.

I would say to start off with, look around your campus for rentals. Not necessarily to buy one for yourself, just to see how that market works. You're already in a market that is flooded with rental income. That will give you a good way to judge whether or not that's the type of Market you want to invest in.

If you were looking at vacation rentals, make sure you look at an area that has some type of draw. Beach, mountains, downtown area ect. Find an agent or investor in the area that is familiar with what your goals are and just start asking questions. You would be surprised how many people want to help you even if it doesn't benefit themselves. Good luck!

@Fili Aguirre

I'll say the same thing, I'm not a lawyer and this is not legal advice. Every state probably has a different law about this so I would look into it. That being said, to my knowledge, in Georgia you simply have to state that the call is being monitored or recorded. That's why you always hear that at the beginning of automated calls or when talking to anyone's customer service. But again, anything that has to do with consent, or privacy, you should always look into what the law states.

@Melissa Jolley

I have considered looking into single, and multifamily long-term rentals in the Panama City area. This property was one that I drove by on my way to a restaurant on vacation and haven't been able to get out of my head for almost a year now. If you know the property I'm talking about, I would love to discuss it further with you, just to get some local professional input.

As far as long-term rentals in the Panama City area, I would be very interested in talking with you about it. Send me a PM and we can talk about options and opportunities in the area. Thanks for the response!

@Cassi Justiz

Thanks for the response!. As of now, I would plan on retaining the current property management company. I've spoken with them and they are eager to had the property closer to full occupancy during the peak season. There are no regulations in the area that would become an issue. This is a very commercialized area and most of the properties are already multi-tenant vacation rentals. Panama City Beach is one of the highest vacation rental income areas in Florida, if not the Gulf Coast. I forgot to mention the best part of this property. It's a two-story complex as of now but it's zoned for an additional 150 foot vertical clearance. So the option for future development is massive!

I'm a first-time investor, and I guess you could say I've always been a little ambitious. I'd like to get some opinions on a property that I've been interested in for some time.

I live in Georgia but I found a multi-unit vacation property, on the beach, in Panama City Beach Florida. It's been on the market for a little while and I have been watching it like a hawk. I've already talked to the agent and got as much information about the property as I can. My question is, as a first-time investor with this be too big of a jump into the world of REI?

I've analyzed this deal in a number of different ways and it keeps looking great on paper. The purchase price is, what I feel, well below market value and generates great numbers on a rent roll. As of now, the property owner is not renting the entire complex out for almost half of the year so his friends and family can stay there for free. This means that the rent roll as it stands is lower than many investors would like to see. On top of that, it needs a few renovations to bring it up to speed. I've asked a few larger investors about why this property is still in the market, and the answer I keep hearing is that 8 units is too small for the big guys to go after, but the price is too large for many of the small guys to bother with. I feel like it may fall in a sweet spot for something that could be a great initial investment, but I don't have enough background or experience in real estate to know whether or not this deal is worth pulling the trigger on.

Let me know what you think about this deal, and whether or not it's something that a newbie investor should jump into as a first property.