Real Estate Investor · Palm Beach County, FL · Member since 2017 · 3k+ posts · 2k+ votes
Hey everyone! For those of you who don't know me, I'm a commercial multifamily investor (direct principal buyer not a syndicator) based out of Palm Beach County, Florida. I'm looking to connect with likeminded investors and commercial brokers who are active within the state. My focus is on value-add apartment complexes. Primarily smaller deals in the 6-20 unit range when I'm buying myself but I have also looked at buying larger deals with a partner as well. Anyone on BP buying similar properties or doing multifamily deals in Florida? I would love to compare notes and discuss what you're seeing in the marketplace around your area! Please feel free to reach out!
The problem is... the deals won't come to you. Deals aren't "found". Deals are "made". You won't find deals on the MLS. You won't get a deal from a wholesaler you don't have a personal relationship with, because the good deals will go to the ones that do. If you wait for the perfect deal, you will never buy anything.
So Brian, how are you MAKING a deal? How have you been taking action towards building your empire: How many off market mailers have you sent? How many offers have you put in? How many brokers have you called? I can tell you that I wouldn't have gotten my deal, had I just waited for it to come to me.
If you or anyone here would like insight to "making a deal" instead of "finding a deal", we have a monthly meetup in person and on zoom that has been running over 5 years. Simply search for "Coffee with Investors" to find it, or reach out to me for details.
@Brian Garrett good day sir, I would be honored to be apart of such a group and or likeminded connections. Keep me in mind as things develop on your end.
We’re doing similar to what you are doing but on the opposite coast in Portland Oregon. We run a property management company and find we have an edge on the market in the -60 range as most investors are hiring out PM. Would be happy to compare some notes.
Florida multi-family investor here! Primarily focused on central and west/southwest areas like Tampa/CLW, Orlando, Sarasota. Also looking to expand into Jacksonville in the near future as well. Happy to connect.
I'm in Jax but would be very interested in partnering on a multifamily deal. I can bring some capital, net worth, little bit of a track record, and income to help with a recourse loan if needed.
My biggest challenge is finding a deal while working a full time job. Please send me a message if you have time to discuss.
Hi, I should be closing on my first Multi-Family in the coming weeks. There are some larger units in my area that I've seen (12-32 units) that have been priced fairly. I am in Jacksonville, FL and have been more focused on looking on the Westside for Multi-Family. The larger units are more than I'm looking to take on at this time, so I haven't fully ran numbers. But there are some deals out there.
The Jacksonville market is one of those markets it seems that an investor is wise to do a lot of research on what areas might appeal to them and why.
On paper numbers look great in some areas, but as a local investor I know where I feel comfortable working (or leaving my wife to work, paint etc) and where I do not.
So if Jacksonville, FL is where you plan to look, familiarize yourself with the different areas or know someone who is familiar with them.
Happy Hunting!
@Brian Garrett and @Joshua Schoer not sure if you're interested, but I'm an LP in two deals in FL with two different syndicators. One of them is looking to close out an opportunity in Fort Meyers if an LP position interests either of you.
I live in Palm beach county. I am a new investor, have couple properties in TN, nothing in Florida yet, but looking to invest here as well. Would love to connect.
And to the other who have posted on this thread. I am new to the bp community and have 2 single family homes. I have gotten the real estate big and am ready to start growing my portfolio this year. I am changing jobs and moving to the Orlando area in a month or two. I would love to start getting into multi family homes in the area by the end of the year. I would love to connect with others in the area and see how I could be of assistance to you as I get more familiar with the area.
The problem is... the deals won't come to you. Deals aren't "found". Deals are "made". You won't find deals on the MLS. You won't get a deal from a wholesaler you don't have a personal relationship with, because the good deals will go to the ones that do. If you wait for the perfect deal, you will never buy anything.
So Brian, how are you MAKING a deal? How have you been taking action towards building your empire: How many off market mailers have you sent? How many offers have you put in? How many brokers have you called? I can tell you that I wouldn't have gotten my deal, had I just waited for it to come to me.
If you or anyone here would like insight to "making a deal" instead of "finding a deal", we have a monthly meetup in person and on zoom that has been running over 5 years. Simply search for "Coffee with Investors" to find it, or reach out to me for details.
Hi @Brian Garrett. I don't have the experience you do but your post caught my attention (especially since you were one of the ppl who provided me w/ helpful insight on my first BP post about a year ago :)). I recently purchased a SFH in Delray, which I am currently living in and now that I went from renter to home-owner, I am looking to take on partners to syndicate a 6-unit MFH in the South Fl area - Dania Beach has piqued my interest. I'm excited to hear what venture you get into!
Btw, @Jon Huber - I signed up to your virtual meeting on Saturday afternoon. Really looking forward to it!
Closing on our first 50 unit Florida property in Tampa in the next couple of months hopefully and adding more thereafter. I personally think that Florida is the best positioned state in the country for real estate.
@Brian Garrett I'm right here in Palm Beach County with you. Finishing up a rehab of a single condo, and a commercial warehouse, and within the next few months will be ready for my next deal. Still looking for opportunities though.
@Brian Garrett - like many here I’m also exploring the Florida market.
I’ve done a dew deals as a service provider (lender) and have found South FL to have some really low cap rates. The market is very efficient (Huber’s point above) and has excess liquidity. Costs of ownership (insurance, taxes) also increased and in some places are irrational. Takes being in the details of local deals and comparing them to see this.
Nonetheless, I continue exploring and learning with peers, so would love to continue dialogue.
We are multifamily investors based in South Florida.
My business partner and I will be restarting our monthly Multifamily Meetup in Miami in the next few months as soon as we can make satisfactory arrangements to safely hold our meetings. If you are interested in attending when we restart, send me an email and we will let you know when we make an announcement.