All Forum Posts by: Bubba McCants
Bubba McCants has started 28 posts and replied 90 times.
Post: Certified Builder - Investor Builder
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
Quote from @Jodey Rifenburg:
Hey there, BiggerPockets family! I'm Jodey Rifenburg, and I'm thrilled to join this incredible community of real estate enthusiasts and professionals.
A little about me: I've been deeply involved in the world of real estate investing and building for the past few years, constantly learning and evolving in this dynamic field. It's been an exciting journey, and I'm eager to connect with fellow enthusiasts, share insights, and gain valuable knowledge from this vibrant community.
Lately, my focus has shifted towards understanding and mastering the art of calculating cap rates—a critical skill, especially as I set my sights on venturing into multifamily properties. The world of multifamily investing is both challenging and rewarding, and I'm excited to immerse myself in this new chapter of my real estate journey.
Currently, I'm working on optimizing the cap rates for three duplexes. It's a fascinating puzzle, and I'm navigating the intricacies of property valuation, expenses, and potential income to ensure I make informed decisions for these investments.
One challenge I'm actively tackling is finding the best platforms to market my properties. While the standard MLS platforms are undoubtedly valuable, I'm curious to explore innovative strategies and platforms beyond the mainstream. If anyone has insights or experiences to share on effective marketing strategies for multifamily properties, I'm all ears!
Hey Jodey, I am new to Bigger Pockets as well and loving it so far. I have found duplex or multifamily market well on Facebook Market place and LoopNet. It is interesting you talk about CAP rates for Duplex's, I find it hard as well to determine cap rates on these properties, or getting a "good" cap rate. I like to look at cash flow, if I have debt on the property and my rent can cover my mortgage, taxes and insurance for the near future I am very happy! Hopefully as time goes on I can increase the rent and cash flow the property to include repairs. Got to love someone else paying off your investment! Thank you , Don
Post: Panama City Florida
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
@Shane Lloyd I realize this is an older thread however, have you started/completed any projects in Panama City? Thanks!
Post: Owner’s title insurance - to get or not?
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
Quote from @Nana Sefa:
Quote from @Bubba McCants:
Quote from @Nana Sefa:
Quote from @Bubba McCants:
Title, insurance and surveys are two of the most important tools you can get when purchasing a property. Not to mention it will also help you sell the property if you intend to flip or sell in the future.
Good morning, have a clear title is a marketable asset for any Buyer, future owner.
Correct, that wasn't a statement on the thread. Thanks!
Post: Online Title search
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
Quote from @Kathy Utiss:
You can also check online to see if the particular county you are buying in is online for free before you spend money on a title search. Netronline.com is a good search tool that allows this. Then depending on the outcome order title as necessary. Another thing to check for if your in research mode is if the homeowner could be in bankruptcy thru google maybe a pacer search. As rarely are fed records recorded in county offices.
Great point
Post: Online Title search
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
Quote from @Kathy Utiss:
You can also check online to see if the particular county you are buying in is online for free before you spend money on a title search. Netronline.com is a good search tool that allows this. Then depending on the outcome order title as necessary. Another thing to check for if your in research mode is if the homeowner could be in bankruptcy thru google maybe a pacer search. As rarely are fed records recorded in county offices.
Post: Owner’s title insurance - to get or not?
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
Quote from @Nana Sefa:
Quote from @Bubba McCants:
Title, insurance and surveys are two of the most important tools you can get when purchasing a property. Not to mention it will also help you sell the property if you intend to flip or sell in the future.
Good morning, have a clear title is a marketable asset for any Buyer, future owner.
Post: Owner’s title insurance - to get or not?
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
Title, insurance and surveys are two of the most important tools you can get when purchasing a property. Not to mention it will also help you sell the property if you intend to flip or sell in the future.
Post: Online Title search
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
Quote from @Zachary Bush:
I am also looking for an online company that can do title searches. I've seen some previous posts, but they are several years old.
Hello Zachary , I posted a response below. It's always best to have a relationship with a local title company where you're buying the most properties. If you do go the online route, be cautious and just make sure it's a reputable title company and not anything fraudulent/ scam.
Post: Online Title search
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
Best to use a local title company so that they may better help you with solutions if needed. It's always best to build a relationship with a local title company as well. Thanks
Post: Triplex build and sell with private money
- Realtor
- Panama City Beach, FL
- Posts 95
- Votes 50
Investment Info:
Townhouse private money loan investment.
Purchase price: $64,000
Cash invested: $600,000
Sale price: $925,000
Bought the land, built a tri plex with each unit at 3beds, 2bath, short term rental capability
What made you interested in investing in this type of deal?
New construction opportunity
How did you find this deal and how did you negotiate it?
Off market deal, found it by networking and cash closing
How did you finance this deal?
Private, cash investor
How did you add value to the deal?
Market knowledge for PCB rental market and fair offer to Seller
Lessons learned? Challenges?
Had to complete project before and a cat 5 hurricane, definitely slowed the project, contractors hard to find, took some hits however we persevered, never quit
