All Forum Posts by: Caleb Drake

The meetup was designed to build a community of like-minded people, motivated to crush it in real estate. We collaborate over beers, share knowledge, and network with those on a similar path, while expanding our knowledge base together.

This month's guest speaker is Albert Sousa. Albert is going to speak on the current state of the treasury bond markets, potential future rate hikes and what that means for investing in 2022 and beyond. He will discuss creative ways to navigate these rates hikes and options for investors to buy properties with lower closing costs, etc. 

Albert Sousa is the principal broker and owner of Mortgage Apex, a mortgage brokerage specializing in primary, vacation, and investment residential loans. Albert started his mortgage career in 2017 as a loan officer at a top-rated national lender in Charlotte, NC. He then moved into the training and consulting side of the business, working with loan officers across the country, teaching best-practices to improve their borrower experience, efficiency, and production

If you have any questions, please shoot me a message. This will be a monthly networking event with a guest speaker. 

 That didn't age well.

 Thanks @Michael Hamby! Darek seems like a great person to have speak at Pints & Properties, Pensacola.

Keeping this generic because BP mods keep flagging me for promoting…

BLUF:

Need guest speakers for a new REI Meet Up in Pensacola, Florida.

Looking for:

Wholesaler, flipper, hard-money lender, syndicator, etc. 

Trying to keep this as general as possible because the forum police keep taking my posts down for self promotion…

I’m looking to network with some local hard money lenders, successful flippers and others in the REI community. I’m starting an investor meet up and would like to have some experience come speak as guest speakers. It will be in Pensacola on a Saturday or Sunday at a local brewery. PM me!

Investment Info:

Single-family residence buy & hold investment in Navarre.

Purchase price: $168,000
Cash invested: $3,500

SFR AirBnB we purchased in 2019 for $168k with 20% down. Home has increased in gross revenue yoy from $25k to $41k. We maintained a 91.6% occupancy rate in 2021.

After the market appreciation of 20-21, we refinanced out of our original position, lowered our rate, Title and finance in our LLC and pulled all the money we had in it out.

What made you interested in investing in this type of deal?

Cashflow from previous Airbnb

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

First conventional. Now hard money SFR 30 yr note.

How did you add value to the deal?

STR vs LTR

What was the outcome?

High NOI

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $43,500
Cash invested: $12,000

This was an out-of-state MLS purchase SFR that needed very little work. Total purchase cash and rehab in the home is around $20k.

The home rents for $895/mo and cash flows around $350/mo.

What made you interested in investing in this type of deal?

I invest with a business partner in an LLC but wanted to kickstart my own personal portfolio with something easy.

How did you find this deal and how did you negotiate it?

MLS—paid too much but it cashflows

How did you finance this deal?

Conventional loan from a local bank.

How did you add value to the deal?

Added a central air and a new furnace. New floors and other small repairs to the exterior.

What was the outcome?

Still need to evaluate if I can pull money out of the deal and refi into commercial loans.

Lessons learned? Challenges?

Negotiate harder for deals on the MLS post-inspection.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No