All Forum Posts by: Andrew Davis

@Braden Hobbs, hadn't heard of padmapper, I'll add that to my toolbox, thanks!

Hey @Robert P., I would concur with @Matt Lefebvre, this one looks really thin.

However, it all depends on your investment criteria and your risk/labor appetite.  I personally have no desire to manage my properties or do repairs, so my cash flow numbers need to have some serious cushion in them.

As you said, it's in a good area, and not only does that (sometimes) equate to higher appreciation, but also less hassle and maintenance issues.

How's the roof?  Electrical?  HVAC?  While you can never know entirely what issues a property will have, you can make some educated guesses.  

Hope that helps!

Hey @Andreas Heinemann, welcome to BP and the Florida investing community!

Here are a few resources that I think will be informative for you:

Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other South Florida investors).

Listen to the podcasts , get active on the forums & set up key word alerts to be notified when people are discussing topics you're interested in. 

BP is also a great place to generate leads + referrals, so be sure to set up your agent profile:

https://www.biggerpockets.com/forums/25/topics/247...

I'm an active Agent/Investor in Central Florida, but am down south quite often, so reach out anytime.

Oh, and @Account Closed will also be a great connection for you, he's in the Ft. Lauderdale area.

I wish you all the best Andreas!

Hey @Braden Hobbs,

Are you talking commercial or residential?

If it's commercial, it's obviously to be a huge part of your due diligence process and any offer you make should be contingent on receiving rent rolls.

If you're talking residential, if the property is occupied, you should require the current tenant's lease as one of your contingencies.

A few great resources for determining rents (in addition to @Curt Davis' rentometer suggestion)

• A local property manager will be a great resource for you.  When I'm getting ready to make a serious offer on a property, I always reach out to my property manager and he has always been right on the money, or extremely close.
• Zillow
• Your local agent will be able to pull rental comps for you
• Craiglist has a map feature that you can use to determine rents in the area.

Hope that helps!

Hey @Jorge Alzate, welcome to BP and the Florida Investing community.

Definitely connect with @Account Closed, he is a good guy and knows his stuff.

Starting out with an a multi-family using an FHA loan is an awesome way to get started with low money down. Make sure your lender is educated on the program. If you haven't already, look in to the 203k subsection of the FHA program. They will actually you lend you money to fix up the property as well, at the same low interest rate.

http://portal.hud.gov/hudportal/HUD?src=/program_o...

I'm an active investor and agent up in Orlando, but travel down south quite often, so feel free to reach out anytime.

I wish you all the best Jorge, keep us updated on your first investment!

Hi @Omayra C., welcome to BP and the Orlando investing community!

Since your new to BP, here are a few tips to help you get the most out of the site:

Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other local investors).

Listen to the podcasts , get active on the forums & set up key word alerts to be notified when people are discussing topics you're interested in. 

I'm an active investor & agent in Winter Park, so feel free to reach out anytime.

I wish you all the best Omayra!

Hey @Bruce Powers, welcome to BP and the Central Florida investing community!

You've received some great feedback from @Adrian Smude and @Jelani Jackson.

Here are a few tips to help you get the most out of BP and kickstart your investing:

Start here. You'll get a wealth of REI knowledge and learn how to take full advantage of Bigger Pockets (including how to connect with other local investors).

Listen to the podcasts , get active on the forums & set up key word alerts to be notified when people are discussing topics you're interested in. 

I'm an active investor and agent in Winter Park, so feel free to reach out anytime.

I wish you all the best Bruce!

@Erin Legler well done!  And I don't know about the "king" of creative finance, but I appreciate it!

@Rochelle Wilkinson, when I first read that I thought you asked him if you could hold his tools until he showed up... now that might be a strategy!

@Nat C., unfortunately this seems to be all too common.  I recently paid a handyman in full for a job that he didn't even complete halfway... yes, this was a terrible idea.  He has since disappeared and left us in a really tough spot.

@Jay Hinrichs, I like your system.  My experience with tradespeople in year one has really changed how I evaluate a deal.  While I may be able to get something done for x amount, it has not been worth the headache, risk and lost time/money to do so.  I would much rather pay reputable contractors and subs a "premium" in order to have a job well done.

Welcome new member.