All Forum Posts by: Yasmine Bisumber

Have a scenario to run by you guys: House worth about 360K (worth more IMO but the comps aren’t great), seller owes 362K. 

Owners needs 20K to be able to rent an apartment after sale. Current rate is 6.5% and payment are $2950. They are behind and need $9K to bring it current. I want to buy it subject to the existing VA loan. Which I know is hard to do but still possible.

I checked comps and I can get roughly $4500 to $5000 ish in rent monthly for the home with a traditional lease since this a 2/1 and 1/1 on one lot. 

I think I know how to get the deal done but I will still need to raise money for the “buy in” costs. The alternative is that I package it up and sell it but my commission would be added to the cost to acquire. 

I want to help these sellers! So whatever is best for them I want to do. I guess I just need to talk this one out and hear from other creative finance investors.

Hi Kyle, I thought I'd hop on here to offer some guidance. I am not an official vacation rental manager but I am an agent who helps investors purchase vacation rentals in and around Miami. I see the market and where iit is headed. 

You can expect high returns, the vacation market is still very much alive in South Florida, if you are open to it you can find slight discounts if you buy outside of Miami-Dade proper. Tray to purchase a SFH or MFH vs. a Condo. Lots of condos have changed their rules and do not allow daily rentals making it harder for investors like yourself to accomplish their goals. There are still a FEW so make sure to ask before putting in an offer.

Pretty much anywhere along the coast will garner the best returns. People staycation a lot here so you will get guest both from out of town and those who live just a few miles away.  The last vacation rental I sold was a duplex in Pompano Beach and my buyer decided he was going to move here and stay in one... I don't blame him. It was a 3 minute walk to the beach. The list price was 589K but I helped tie the deal up for 554K (in Miami he would have paid closer to 800K for the same property). He can expect anywhere from $175 - $250 per night for the unit he will Air- BnB.

I’d like to hear from syndicators or other investors who have pooled together other peoples money. 

In searching for and talking to partners for my own investments I realized that my circle is larger than I thought it was. I now see an opportunity to pool money together from several people and start to purchase multiple homes at once, however I am not sure how to properly structure this business.

I wouldn’t be buying large apartment complexes like a syndicator (I'd need much more experience to handle large deals lie that) but I think the basics still apply. My goal is to make sure I fully understand how to structure what I am trying to accomplish. 

My questions are:

1. How did you structure your business (S Corp, LLC, Limited Partnership)?
2. How did you determine the price point for your purchases?
3. Did you first locate the deal then build your team of investors or did you get each person to agree then start shopping for deals?
4. What role does each investor play in your business?
5. Do you have one account everyones money is held in or do you hold separate accounts?

My background is in project management and real estate sales. I’ve accumulated quite a bit of knowledge over the years and am beginning to create opportunities for myself and now, others.

** Any good books, podcast or blog posts on similar topics that I can read? Please send me the information**

Hey Greg, welcome to the REAL ESTATE family. I am also an agent here in Broward County. I've hung my licensed with serval brokers until finding the right one. If you need any advise or what to meet up to talk please reach out.

I recently wrote a blog post about becoming an agent that you might find helpful. 

I also have a few books I think will be great in getting you started as a Realtor and investor, like you mentioned there are tons of ways to get involved in real estate and it is quote fascinating.

One piece of advice, allow yourself the time to find out what truly works for you. Once you find it run with it and don't be afraid to try new things and feel the business out.

Hey Ray, I am searching for a great group also. There is a tougher barrier to entry for real estate investors here in South Florida because of our market. I have a few friends and colleagues who are active investors, they themselves are having a harder time finding great deals and are probably the busiest people I know. If I can be of any help by answering questions let me know. 

Good day to all, is there anyone in the Tobyhanna, PA area that can give me some insight and answer a few questions about the area, home values and rental income potential? 

@Marty True Absolutely. 

@Thomas Franklin That sounds great, we'll have to meet sometime!