Tallahassee Florida rental investor
Hey Ben! Welcome to BP. How is your search for a multi unit going?
Difficult! Can’t find anything worth pulling the trigger on.
Hello Ben, Im also in Tallahassee and looking for a quad myself. I have been looking at places for a few months now. Ive put in offers on a few places but everyone wants too much.
Any particular part of town that you're looking in?
If the numbers fit I’m always open to take a look no matter the side of town. Saying that I try to stay away from SW Tallahassee. I agree, everyone is asking a lot. It’s a sellers market at the moment. I looked at a triplex the other day, it was nightmare. Needed to be torn down.
It may be out of your area of interest, but I’m currently looking for an investor for a property that is unlisted but for sale. It’s a 51 acre parcel in Central Florida with lakefront access for about $4000 per acre. Adjoining properties, with less acreage and no lakefront, are under contract for $12,000 per acre and one is still listed for sale for $15,000 per acre. Please let me know if you’re interested! 8638603974
Joel
I should add my plan is to flip the property for at least double it’s selling price within 30-45 days.
I appreciate the offer, but it’s out of my wheelhouse. Good luck with the acres.
Thanks for the response, Ben! Take care.
On the hunt for a duplex or quad as well.
What kind of returns are you guys looking for?
Hey Ben,
Just seeing this now, but best of luck with your search. I bought my quad back in 2015, and yes there are some folks that just want way too much for what the place is. So many sellers want minimum 1% of rents for properties that are in need of a lot of work. Unfortunately, there aren't many quads in Tally.
My plan all along was to consider exiting this property and 1031 into another after 4-5 years (so 2019 or 2020), but I may continue to hold as it has cash flowed nicely. Problem i'm seeing now is the market is so high, what am I going to 1031 into? Anyone else having this problem in Tallahassee or elsewhere?
Originally posted by @Michael Walton:
Problem i'm seeing now is the market is so high, what am I going to 1031 into? Anyone else having this problem in Tallahassee or elsewhere?
Yeah, everything is pretty expensive now. I'm considering just buying a land in the good location and possibly develop it into a quadplex when I'm ready.
