Riverview, FL · Member since 2016 · 53 posts · 18 votes
Looking for a RE Mastermind group that meets monthly in the Tampa area. Looking for less of the teacher/student type group (although I'm not opposed to learning) and more of the group think/talk type of group. Any groups out there who wants to add someone?
Tampa, FL · Member since 2018 · 16 posts · 9 votes
7y
@Jared Decker@Alan Davidson Hey guys! I travel for work but my home base is in Tampa! I'd love to connect with you guys in a meet up some time! I'm new to the REI scene!
Investor · Tampa, FL · Member since 2016 · 679 posts · 288 votes
5y
Alan Davidson. There used to be a private Exchange Club in Clearwater with guys that wrote books about R.E. Investing. Just as there used to be an Inventor's Group. There is the Suncoast Real Estate Investors Association. I know the President of the Mayor's Development Council. The Council used to meet once a month and divide up all the File Minon properties that were going to be developed. My friend used to be a waiter at the meetings. The big guys bought up all the big ranches outside of Tampa, 20 years ago where they are building out in places like Trinity and Manatee. They know where all the new highways and roads are going to be built and you have to be lucky and have ten years or more to know where to buy for the future. When you drive into downtown on 60, have you seen the vacant block that was leveled and the other block of four story apartments finishing construction around 32nd. I always thought that Hooker's Point would be the place to buy up, before they extended the Causeway highway. Except for the Flood Zone, that would be a place to buy lots and just sit tight for the millenials who want a cheaper place near downtown JOB's. You have to just do your due dilligence or have connections.
Riverview, FL · Member since 2016 · 53 posts · 18 votes
5y
Hey guys. I started this post about a year ago or over a year ago with the idea to find like minded people who are in real estate. Buy and hold. Flipping. House hacking.
The reason I started this thread is I wasnt finding what I wanted at REIA meetings.
Shoot me a DM if you’re still interested and I’ll set something up.
Investor · Tampa, FL · Member since 2016 · 679 posts · 288 votes
5y
Hello Alan Davidson. I just paid Cash for a 3/3 Townhome behind the Home Depot in Valrico. Moved from the 3/1 house that I rented for 11 years in North Seminole Heights, Tampa. Just lived there for 2 years to make it my next Tax-free Sale of a Residence. I am asking $200,000. I will clear $80,000 profit and the mortgage was paid off by the sale off the Commercial. Sold my 4 Commercial lots off Dale Mabry Hwy and Interbay after 20 years of renting the 3/1 house for $1000 a month. I cleared $340,000 on that Buy and Hold. My partner and I used to attend a few REIA meetings 20 years ago to see what the guys were doing and make connections for a Team and Financing. We did one fixer upper for a profit and split up. He ended up with 90 Trailer and Modular Homes on individual lots all over the Bay Area. In a year they are usually Cash Cows and after he aquired a few he started to Bundle his Mortgages to get better terms and more Cash Back and it just kept growing from there. I also have houses that I built in Brazil where I will be retiring to when I sell the Tampa house and get the Johnson and Johnson vaccination. I don't want to have to stick around for two shots over three weeks and then get my Health Card to travel with, every two years or so. I have a small farm and mountain property where I will partner with my neighbor to raise 60 head of cattle. I have a beach home on a hill and 7 Kitchinete apartments, three hours East of Rio. The Buy and Hold thing takes ten to twenty years to fruition, depending on what point in the Real Estate Cycle you buy to fix up and if you can buy multi-family to start with. Rental Homes don't pay for themselves. That is why Newbies can start with Flips and work up some Capital and experience until their Cup Runeth Over with Cash. Or play it safe and fix up a house to be your Residence for two years or more. That way it will be Tax-free when you sell it. During that two years or more you just find one fixer upper to Rent until you will move in there and make that one your Tax-free Rental. Then, it is just Do It Again Sam the rest of your life as your Tax-free Buy and Hold. When I started studying 30 years ago, they always said that the majority of millionaires made their money with Real Estate Investing, not Flips. Takes time. Do you have the Time? The other caveat is to never trust any "Teacher" who has not already made a Million. The quickest way to learn any task is to Apprentice with a Mentor. BP and plenty of other guys have youtube videos on How to Make a Million in Five or Ten Years with Rentals. "Practice makes Perfect," but, it has to be Perfect Practice with a Mentor who could be your experienced Real Estate Partner. When I started 30 years ago to buy Rental Duplexes and Houses in South Tampa, my Broker was Bill Davidson. He was an older Business Major who had a Ford Dealership in Bradenton and retired as a Broker in S. Tampa. Bill was finding me properties that were not advertising correctly. The ads would only mention one house or one side of the duplexes and nothing about two lots. My neighbor's Agent just did that with his property. Really, stupid advertising only the front house on a single lot, next to my house and nothing said about the house in back! The Agent was asking double the value to start with and never had an Open House or suggested that he offer to SEll Financed by the Owner. He did that a year later and got $190,000. $50,000 Down on a 3 year Loan at 7%. The Buyer did two Flips that did not work out and now bought this one to fix up, having the rent from the house back pay for it all. I studied Carelton Sheets and his "Low and No Money Down" Real Estate course. Carelton was a Broker on Davis Island, downtown Tampa 30 years ago. That encouraged me to buy most of my properties negotiating with the Owner for $10,000 Down and one to two years to fix them up and rent to qualify for a mortgage. There is a new 3/2, 1600 sq. foot block house without a garage, that was just built, four lots away on the corner, by an Agent. She just sold the same type house on the other side of I275 on the North side of Seminole Heights. She is asking way too much, $385,000 for this sale. My new neighbor's cousin did two Flips with her and she now is just building new to sell. I hope she can advertise correctly and accept a good enough offer, quickly, before I start selling my house to help with the comps. There is a new Restaurant finishing the build around the corner from my house. And a block of four story Apartments on Nebraska Ave. four blocks South that are almost done. Where my girlfriend lives across from Rivercrest Park on N. Boulevard, the two new houses across the street were Sold, pre-construction, for $420,000. The neighbor sold the two lots on the corner for $240,000. The Builder made out big time with that job, but, it is in the best section of Semiole Heights. lots of people think that starting as an Agent is the way to go and learn the business until they find their niche. If you have Time, there are many ways to Skin the Cat.