All Forum Posts by: Aleejandro Dela Vega

 Great advice... Essentially look at the fee what you would normally pay a home inspector. 

@Joe Martella

Welcome to BP! I joined the site roughly a month ago and find it of great value. The amount of information and help on here took me by surprise. I'm going to give you some input although some of it might a bit seem off topic to you, but it is only to give you more insight on the real estate investment world so to speak. 

I'm sort of in the same boat as you are in, in the sense that I am looking for a new market to invest in. I've been in the Las Vegas area since 2010 which has been great but the cap rates have dwindled to 5-7% and deals are few and far between. The appreciation in Vegas has been very good and will continue to be strong for a while (5-10% year) but, again if you are looking for a good cap, it's tough and that is why I am searching elsewhere. I'm looking at markets where I can find high caps for Class B properties in appreciating markets as well.  

For me, I prefer to stick to none income tax states; Texas, Florida and Nevada. As the saying goes; sometimes it's not how much money you make but how much you can keep. 

At this point in time I only invest in SFR's. I've been doing this for 15 years plus and unless you want to own C class apartment buildings (most of which will be in questionable areas) your cap will generally be pretty low. In my opinion the time to have bought apartment buildings was 2010-12. I would recommend staying away from owning condos as the HOA fees eat in to your profit.

So far I've only been to Houston. I hear Dallas and San Antonio are decent but haven't been. You can find 10+ cap rates in Houston but you will be in soso areas that will eventually see appreciation but the question is when. Since they are going through a boom right now, rental inventory is pretty tight and you will be able to find a good quality tenant. I saw a couple of decent properties, one priced at $75K, the other $85K that would rent $950-$1000 within a weeks' time. Both of them were pretty much turn key.

I am heading to Florida next week to check out the markets in Jax, Orlando and Tampa area. 

Hope this helps, feel free to message me if you would like more input.

Chris, I'm planning on being in Orlando between the 15th and 22nd and would like to get some information regarding myself possibly purchasing some rentals in the city. Is emailing you at the email you have listed the best way to contact you?

 I hear you, that's sport of what's happening in Vegas also. 

Is your area predominately Jacksonville? Also, in your opinion are you able to find 8,9,10% cap rates for Class B SFR's there?

Thanks Jonathan, I'd be interested in getting more info on the RIEA meetings.

 Vuk, I am definitely interested to hear about what type of inventory you have. 

 Thanks Keith, I haven't done any vacation rentals yet but sounds like I should consider it.

 Thanks Amie, sounds like I need to have a look there also. I'll check and see if I have enough time in my schedule to make it up there.

Thank you all very much for your input. Jacksonville is sounding very interesting at this point. I will reach out to you as soon as I get solid dates for my trip and hopefully meet up with some of you while in Florida. 

Hi everyone, I joined BP a month or so ago and was able to find some great info on here. 

I'm an investor from Las Vegas, looking to move my investments out East, and Florida seems to be a good place, that pops up positively in the news as it relates to appreciation and rental returns.

I'll be heading to FL in a couple weeks and will check out Orlando, Jacksonville and Tampa/St Pete area. 

I'm looking for property that has good potential for appreciation and that has a good cap rate of say 8+. 

Could anyone give me some input on these three cities and what differences they might have...

Thank you in advance!