All Forum Posts by: Sam Ally

Every market is a bit different. In competitive markets like Florida, AZ, NV, CA the MLS is not where you should be. Multiple sources to identify assets is absolutely imperative. Direct Mail, canvassing neighborhoods, driving for dollars, bandit signs, wholesalers, HUSTLE is what you will need to uncover viable product to capitalize on. Your risk tolerance, liquidity and ability to close quickly will also be critical. As a Florida based Direct Lender deploying millions monthly, most of our funded transactions and acquisitions are from off market opportunities. If you are not employing these strategies your fishing pole will continue to go without a nibble. Feel free to contact me anytime I will be pleased to share our knowledge with you.

@Account Closed Way to go!! We are continually training wholesalers, investors, realtors, property managers how to run numbers correctly. Investing 101 "Do the Math". I do not mean to sound pompous or arrogant, but this is why 97% of those that get into this business FAIL. If you can't run numbers and understand all the variables like HOA's etc for condo's and including those factors along with repairs needed now & future etc as part of your calculations you are destined for failure. To all, You do not have to know everything. Surround yourself with those who know what you do not, and can do what you cannot before you put your hard earned money into play, you're better off going to Vegas or waste more of it with the Guru you didnt learn from.....

Carlos:  I am with @Michael Short above on this one.  Tampa is a great market and we have built a substantial portfolio of cash flowing assets within the parameters you seek.  This is all about your expectation, business model and whether or not you truly have "boots on the ground".  Without a solid team & system in place it won't matter where you operate.  As an investor and lender you must conduct your diligence. We are buying and funding assets daily in this realm.  If the numbers work the numbers work, period.  We just purchased two properties @ $25k each will put approx $10K of renovation in them and rent out for $850-900 per month and no they are not in the ghetto.  Your first move is to reach out to those in the know in the area come down here meet with them see the area and move forward eyes open. This will simply be a matter of personal preference, ability, knnowledge and team strengths.  Feel free to reach out to discuss privately anytime. Happy to help and put you in touch with those in the area that can assist you. 

@Patsy Waldron great to see a response to a question without a sales pitch..Kudos!!!!

Scott:  First of all welcome.  Now for my "two cents" The first thing you must do is eliminate the guess work and assumptions.   We can all speculate here on what area you should go into yet we know nothing about your cash position, what members of your team have you assembled to help you move forward for starters.  This is your hard earned cash and to make it work for you properly, you must surround yourself with others that can do what you cannot and know what you do not.   There is an abundance of affordable rentals throughout Florida, but without knowing more about you, your risk tolerance, short & long term goals no one here can assist you properly.  What will your  involvement be since you work long hard hours?  So much to know before you jump into the deep end.  While there is risk in investing, your job is to mitigate that risk not guess.  

Good Luck!

@Katherine Gonzalez perhaps we should speak as well sometime.  

G World Properties;  reach out Managing Brokers Yuri or Jeremy Gomez.  They are active investors as well. They can find it, offer you teams to fix it, fill it with tenant or flip it and sell it quickly for you if needed. They know the market well and maintain an exceptional reputation.  I have provided funding for many of their personal deals as well as their clients, from a lenders perspective they understand a value based investment approach, know their numbers, market timelines and the importance of systems and communication.  You may feel free to use my name a source, but I stress to always conduct your own diligence.  Good Luck!  

right or wrong I could not post a phone number for you. BP does not allow it in this instance, as that can only be provided in the Marketplace...  so search for Gworld Properties on Dr. Phillips Dr in Orlando

@John Rogers we have quite a range ourselves, from $25k-$2mm for residential assets.  Unfortunately, our rehab loans serve as a second position to the acquisition loan.  I may have a couple of private investors willing to take you up on your 12% but they will certainly need to "vette" the borrower/asset apprropriately.  When not on the road, I'm in Davenport every evening coffee on me if you're up for it sometime.

@Scott Alfano,  I will be pleased to have a conversation with you to discuss your needs and goals, anytime. In consideration of the BP rules on solicitation, feel free to connect with me here and we may take the next step in furthering along your diligence.  

@Greg Simpson @Megan Aldridge  appreciate the kind words.  @John Rogers welcome the opp to share a conversation with you as I am intrigued to learn about your lending protocols as well!  

"Walcome" John:

Please feel fre to connect with me and send over more details about your business. I work with investors from around the globe seeking solid "boots on the ground" and teams to assist them in their endeavors to acquire assets to renovate and flip or build their rental portfolios.   We're always seeking solid contracting professionals as well for our own acquisitions.   Wishing you all the best in your endeavors, and don't forget to send me your info!  

Cheers,

Sam