All Forum Posts by: Zach Lemaster

@Andy Ramdeen That is great to hear that you are ready to get started, and that your wife is on the same page!  ; )

It's always important to make sure your spouse is on board with financial and investing plans.  First step is always setting up a consultation with our team through the website.  We typically like to start with an initial phone call with investors to learn more about your investment goals, and to explain all that our company has to offer. This will also allow us to answer all your questions in detail. Speaking with an investment strategist would be an excellent way to learn more about our investment opportunities, and to create an action plan individualized to you!

We look forward to connecting & hopefully working with you in the very near future!

@Trevor Fleck Thank you for the mention!

@Adam Berlinberg I worked as an Optometrist for many years, and was able to retire from the healthcare career field through RE investing over many years in the best markets throughout the US!  Others started coming to us to assist them in how to do the same thing, and that is where the birthplace of our company Rent To Retirement started!  I'm happy to assist however I can in answering questions.  We operate in the syndication and turnkey space across the country in multiple markets.  With inflation that we are seeing now, and especially in the future, it is definitely a great idea to put your capital to work earning income vs inflation chipping away at you in the bank!  Just depends on where the right starting point is for you!

@Prashanth Mannar

Thanks for the questions.  Please reach out directly to your RTR rep if you would like to see copies of any recent appraisals.  We are happy to send them over.  I've included a short list of some of the addresses and appraisal values below.  For the assessments this is something that is completely normal, and expected.  The areas we are building in now are not yet on city water or sewer.  That is why the lots are priced how they are.  Some lots that are already on city utilities are easily $40k+ higher in price so it makes more investment sense to build in the areas are not yet.  Additionally this is where the majority of the land availability is currently.  At some point in the future when the city utilities are expanded to those locations there will be an assessment attached to the property (as with any improvements on communities that apply assessments).  This is not something that is due all at once, and it does transfer with the property to the new owner.  This is normal for really all of NE & NW CC.  We expect that sometime within the next 5-10 years (depending on lot location) utilities will be expanded to most locations at which point valuations of the properties will have increased dramatically during your ownership, and will continue to rise.  Also rents will continue to increase as well.  We've already seen over the past year rents for a 4/2 to increase from ~$1,850 to the $2,100+ range.  In general the future assessments are expected, and just part of the process.

Hopefully this adds some clarity.  Please reach out to your RTR rep for any further explanation of this, or to obtain specific information such as recent appraisals.

Here are some appraisals we've seen as of late:

2836 NW 4th Pl - $385k appraisal
2917 NW 21st Pl - $385k appraisal
3340 Garden Blvd - $375k appraisal
2030 NE 1st Pl - $390k appraisal
4309 NE 20th Ct - $386k appraisal
3614 NE 9th Ave - $385k appraisal
3424 NE 15th Ave - $385k appraisal
2620 NW 4th Pl - $350k appraisal
2213 NE 5th Pl - $390k appraisal
2224 NW 25th Ter - $380k appraisal
1634 NW 6TH PL - $350k appraisal
3911 NE 12TH AVE - $352k appraisal
4422 NE 21ST AVE - $352k appraisal
2030 NE 1st Pl -$390k appraisal
1706 NE 37th St - $352k appraisal
2223 NW 25th St - $380k appraisal
1720 NW 9th Pl - $370k appraisal
1629 NE 33rd Ter - $375k appraisal
2822 NE 6th Ave - $375k appraisal
28 NW 20th St - $375k appraisal
2013 NW 20th Ter - $380K appraisal
1915 NW 27TH PL - $380K appraisal
1905 NW 12th Ave - $350K appraisal
1903 NE 20th Ct - $363K appraisal
1105 NW 21st Ave - $350k appraisal
1729 NE 23rd S - $363k appraisal
1801 NW 13th Ter - $362k appraisal
1218 NW 22nd Ave - $350k appraisal
2834 NE 6th Ave - $335K appraisal
2124 El Dorado Blvd N - $335K appraisal
2024 NE 39th Ter - $310K appraisal
1713 NE 33rd Ter - $330K appraisal
523 Wilmington Pkwy - $400k appraisal
1908 NW 6th Ter - $400k appraisal
2311 NE 5th Pl - $400k appraisal
4207 NE 11TH AVE - $310k appraisal
3118 NW 18th Ter - $375k appraisal
2926 Diplomat Pkwy W - $335k appraisal
2922 Diplomat Pkwy W - $335k appraisal
2017 NW 10th Ter - $350k appraisal
3909 NE 9th Ave - $335k appraisal
3816 NE 9th Pl - $335k appraisal
2079 NW 17th St - $362k appraisal
1107 NW 15TH PL - $410K appraisal
2010 NW 6TH TER - $410K appraisal

@Patrick Bavaro

Thanks for sharing Patrick!  We look forward to working with you on many future investments as well to scale your portfolio over time!

To your success!

@Dan Thomas

Thanks for the insight.  I'll let Patrick share his insight as well.  To answer your question, yes, this is very much a regional issue.  There is a lot of building going on in SWFL, and the permitting office is simply backed up & understaffed.  The actual ground up construction should be in the 4-6 month range, but unfortunately we are all at the mercy of the permitting office.  Anyone building in SWFL can attest to this timeline.  Good news is the market is growing dramatically causing a strong increase in rents & appreciation during the construction process providing excellent cash flow & immediate equity!  For example, a year ago we were projecting rents at ~$1,800 with about $20k in immediate equity on the same 4/2 model.  Now we are seeing rents in the $2,200 to $2,400 range with $50k+ of immediate equity.  It is a bit of a wait, but the wait is most definitely worth it once the home is completed!

@Paul Mezzetti I love that you explained this as I failed to in my previous post.  You are 100% correct.  We saw this conventional construction loan product virtually disappear overnight back in March 2021 when the regulations were changed for lenders limiting their overall investment loans to a total of 7% of all loan volume.  That was unfortunate to see, but that is the exact reason why private construction financing is a more viable option now for people looking to build for investment use.  Lending is always a dynamic world that we need to constantly stay up to speed with to determine what are the best options available at any given point in time.  Some investors that speak with us think that we are requiring certain lenders, but the reality only specific lenders offer certain loan products.  Thanks for sharing your insight on your personal experience.

@Khanh Nguyen

Thank you for the mention and questions. I just want to clarify for you & everyone else reading this thread. We do not require only one lender to be used. In fact, we welcome any lender that offers good terms to be used for construction. The reality is that there are not many options for the average investor that does not have previous build experience to obtain financing for new construction with reasonable terms. Because of that we have built a network of lenders that do offer construction financing to investor that lack experience. This includes private financing, institution lenders, conventional lenders, etc. There are multiple lenders on our list that we put the investor in touch with. Each of these lenders offer different loan terms, down payment requirements, etc. Because of that, not every lender is a fit for the individual. Some people simply won't qualify with some of these lenders. If it is suggested that you speak to a specific lender, it is because we have evaluated the most likely scenario for you to be successful qualifying for loan based on your specific scenario. That is why it is vital to have communication with your RTR rep to run through your scenario. We are always happy to share all lender suggestions, and have you apply with each of them. If we know upfront that you won't qualify for a certain loan product, and we can save both you and the lender time & energy, then that would be why we have suggested one specific lender. Hopefully this helps to add clarity on the overall process. The best advice I can give to anyone interested is to simply schedule a consultation with your RTR rep, and collectively devise the most strategic plan & lending options available to accomplish your goals. That is what you are here for.

@Khanh Nguyen

Thank you for the mention and questions.  I just want to clarify for you & everyone else reading this thread.  We do not require only one lender to be used.  In fact, we welcome any lender that offers good terms to be used for construction.  The reality is that there are not many options for the average investor that does not have previous build experience to obtain financing for new construction with reasonable terms.  Because of that we have built a network of lenders that do offer construction financing to investor that lack experience.  This includes private financing, institution lenders, conventional lenders, etc.  There are multiple lenders on our list that we put the investor in touch with.  Each of these lenders offer different loan terms, down payment requirements, etc.  Because of that, not every lender is a fit for the individual.  Some people simply won't qualify with some of these lenders.  If it is suggested that you speak to a specific lender, it is because we have evaluated the most likely scenario for you to be successful qualifying for loan based on your specific scenario.  That is why it is vital to have communication with your RTR rep to run through your scenario.  We are always happy to share all lender suggestions, and have you apply with each of them.  If we know upfront that you won't qualify for a certain loan product, and we can save both you and the lender time & energy, then that would be why we have suggested one specific lender.  Hopefully this helps to add clarity on the overall process.  The best advice I can give to anyone interested is to simply schedule a consultation with your RTR rep, and collectively devise the most strategic plan & lending options available to accomplish your goals.  That is what you are here for. 

@Don Tarinelli

Thanks for the interest!  We have many investors working with us on new construction in SWFL.  I've posted some links to threads below where investors are sharing their experience about new builds & TK in general working with RTR just as Patrick shared.  Feel free to reach out with any questions.  New construction in SWFL is an exceptional opportunity to come into immediate equity & cash flow investing in an excellent market that is quickly appreciating!

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?highlight_post=5677176&page=1#p5677176

https://www.biggerpockets.com/co/RentToRetirement

https://www.biggerpockets.com/forums/92/topics/929410-rent-to-retirement-updates?highlight_post=5508807&page=1#p5508807

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/311/topics/915728-experience-with-rent-to-retirement-turnkey?page=1#p5345200

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences

https://www.biggerpockets.com/forums/67/topics/952977-turnkey-in-indianapolis-through-rtr-case-study

https://www.biggerpockets.com/forums/12/topics/997350-lessons-learned-from-buying-my-first-rental-property?highlight_post=5748036&page=1#p5748036

https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey

https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach

https://www.biggerpockets.com/forums/48/topics/874096-reviews-on-r2r-and-nch?page=1&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification&utm_content=Transactional#p5123754

https://www.biggerpockets.com/forums/311/topics/883772-turnkey-investing-renttoretirement-feedback-reviews?highlight_post=5171720&page=1#p5171720

https://www.biggerpockets.com/forums/92/topics/950188-rent-to-retirement?page=1&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification&utm_content=Transactional#p5535505

https://www.biggerpockets.com/users/ZacharyCole/references

@Joseph Schweizer thank you for the mention.

@Patrick Bergeron can you add some insight into why specifically MF? I personally invest in both SFR & MF. I do think if SFRs in todays market offers a competitive advantage over MF in many cases with having higher appreciation, longer term tenants, financing with lower $ down, better liquidity when you need to sell it, etc. It all depends on the specific location however. We do invest across 15 different markets though, and this would be true in pretty much all of them. I strongly encourage most investors to build a well balanced portfolio including both SFR & MF.

As mentioned above Rent To Retirement is a turnkey provider that offers BOTH SFR & MF properties across multiple markets. MF would include the small 2-4 units along with mid-sized MF in the 5-50 unit range as well.