All Forum Posts by: Brian Johnson
Brian Johnson has started 8 posts and replied 221 times.
Post: Florida Buy and Hold Investment Property Suggestions
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
Originally posted by @Jerry Poon:
@Brian Johnson Not to be a bringer of doom and bad luck, but won't those area get hit hard again, should another recession come about?
Yes you are correct. The key is to know when to sell out. Like the housing bubble around 2008. I don't think we will experience that for a very long time. The key is to buy low enough that you can ride the highs and lows.
Post: Florida Buy and Hold Investment Property Suggestions
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
I personal want to buy in a area hit hard by the foreclosures back in 2010. Those areas have the best discounts and best potential for appreciation. What goes around comes around and I see Florida making a big come around in the next few years. That is only my option.
Post: Florida Buy and Hold Investment Property Suggestions
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
Originally posted by @Michael Seeker:
Originally posted by @Brian Johnson:
Do you have any examples? I'm talking like-kind properties...you can always find higher returns if you're comparing apples to oranges. Also have you factored in the higher taxes and insurance? Property taxes in FL and insurance rates are a lot higher than the midwest (generally speaking) so a 2% property in FL is not the same as a 2% property in central KY because the fixed costs will be higher even if all other details are equal.
Michael,
I am flying down to the Tampa Bay area and finding out for sure how the home prices to rent are for real. So I will be looking at everything like the area the homes in my price range are at. I will also be looking at the insurance and taxes because that does play a big part in the comparison to our surrounding area. I will be spending 6 days researching the area. I will get back with you on what I find.
Post: If someone handed you 100k
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
I would do how Joe had said. Buy a property below value. Fix it up and in one year refi to pull your money out. In fact that is what I plan to do as a safety net when I try my hand at flipping.
Post: CASH FLOW
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
Simon Campbell,
I tried the low income property one time. I purchased a 4plex out of a short sell. My mortgage was about $810.00 (escrow included). With all the units full I grossed $800.00!
The problem is it was a revolving door all the time. I stayed about 75% full with apartment rehab all the time. Once I sold it my work load went to almost zero! I stayed over at the units dealing with everything. I will never deal with low income properties again.
Post: If someone handed you 100k
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
Originally posted by @Kevin Cook:
First, your name is spelled awesome! Love it. Second, if you had $100,000 cash you could leverage the fire out of that to do some amazing things. Quit thinking small. I'd get with an attorney and financial trader that understands top 10 banks, SBLCs and BGs and that has hedge fund access to platforms that could make you serious cash (like ours). I would take one out for $2M or better, place it in the platform to trade against, then use the proceeds to fund my business. Why waste all of your liquid on a house that may or may not generate the wealth you already have access to? This way your empire can grow quickly and your risk can remain minimal as you build your portfolio however you wish. I confess... it is a bit more complicated than that but not more expensive. All the best with that cash my friend!
I thought you have to have $250,000 minimum to invest along with a set amount in net worth to invest in a hedge fund? Not anyone that has a a large sum of cash can buy into a hedge funds. Our Uncle Sam is watching out for us all.
Post: Funny television show Flip or Flop
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
His wife does better on her part. She decorates the houses very nice. The deco goes together very nicely and she is easy on the eyes. (wink)
The biggest surprise that I find is that they are doing over half million dollar flips and they sell them with laminated flooring. I am shocked that they can get away with not using real wood. I guess that is good to know that laminated flooring is excepted as high quality flooring.
Post: Florida Buy and Hold Investment Property Suggestions
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
Originally posted by @Michael Seeker:
Originally posted by @Jerry Poon:
Where in the midwest?
All of my holdings are in Louisville KY, which is a great city to invest in. There are also plenty of others that could be on your radar if you don't have any particular drivers outside of pure investment (ex. I may start investing in St. Louis because I have family and friends there). Here's a brief list: St. Louis, Memphis, Indianapolis, Cincinnati, Kansas City, Nashville...this is just a small sampling though, there are plenty of mid-large sized cities throughout the midwest where returns will blow anything you can get in FL out of the water!
I have been researching Tampa Bay area and based on what I am finding blows Lexington Kentucky rentals out of the water. I only own 4 rentals in Lexington now but it is hard to find deals that cashflow well if you are looking in B and C class. I did the low income high cashflow and you can keep the headaches. Maybe more up north is better. Right now we are considering moving to Florida and buying.
Post: Funny television show Flip or Flop
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
Originally posted by @James Wise:
Im waiting for the guy to drop something heavy on his toe.
who wears flip flops to a constructuon site?
LOL that is so funny and true. I think he is always wearing flip flops. The guy is aways so surprised when his contractor finds a hidden cost. Like a crack in the back patio.
The courthouse auction in my area has a list a mile long. The foreclosures that are in process are posted with lots of time to look them over. I purchased a 4 plex before it made it to the auction (short sale). They are posted on the master commissioners website.
Post: The diary of a 2nd flip
- Rental Property Investor
- Oldsmar, FL
- Posts 238
- Votes 61
Originally posted by @Huy N.:
Yes it does. If i want to flip a big house now, I have to focus on paying down the debt on my end 1st to free up the money or ask the bank to increase the credit line limit for the up coming year..
Huy you mentioned increase the credit line. I assume you are talking about a credit line you have on your primary home? I looked into credit lines on my rentals and they told me I can't get any type of credit line on investment property. Even if the property is paid for.
I have been searching for different methods of creative financing for my future plans of home flipping and buying other rentals rather than the tradition bank loans.
thank you