All Forum Posts by: Colin G Murphy

Hi @Jeffrey Kops

$125k for a fixer upper in NPR sounds very reasonable to me, there should be plenty of them out there at that price or lower if you check the MLS. There are a few wholesalers out there as well, but I´d imagine they won´t want to wait the 4-6 weeks your client might need to close on the property with finance.

We renovate 3-4 homes per month in this area and sell most of them onto investors. Happy to add you to our mailing list for future opportunities if you would like to direct message me.

Hi @Miguel Dormany

You´re welcome. Despite BP being a terrific source of information and a great starting point, it is unlikely that a 10% cap multi family investment in Tampa will arrive in your Biggerpockets inbox. 

It is not 2011 anymore and you have to work very hard to get your hands on a great deal. In my experience (and bear in mind that I live overseas like you), that means looking outside the retail stuff on MLS / Loopnet and focusing on property auctions, direct marketing, and putting a lot of time and energy (i.e. months and years) into building relationships with local brokers and investors.

Either way, get in the habit of analysing at least one opportunity per day so that you´ll recognise the great deal when it lands on your desk. Hopefully you will get lucky and secure a property that matches your criteria without all the hassle described above, but the odds are against you.

Either way, very best of luck buddy.

Hi Miguel

@Eric Odum is a reputable commercial broker in the Tampa area - you can connect with him via Biggerpockets. 

That being said, you don´t necessarily need a commercial broker to find small multi families.  

Hi @Rhona Wahl

Welcome to BP! I have bought property from wholesalers in Pinellas and Pasco County in the past, so feel free to add me to your buyers list. 

Hi @Keith Kennedy

Which markets are you looking at specifically? Some markets (such as UK, Ireland and Germany) are very safe and transparent while many others are not. 

Aside from establishing whether a specific property is well priced, the currency, taxation, legal framework and property management areas will be the most important ones to research. I can confirm that investing in countries where the paperwork isn´t in English is a lot trickier! 

Don´t let any of that overwhelm you though. Just as many overseas residents (myself included) had obstacles to overcome before investing in the US, many Americans have been successfully and happily investing abroad for generations. 

Spanish Property Insight produce a good newsletter with general news and analysis every couple of weeks. Worth subscribing to. 

http://www.spanishpropertyinsight.com/

Hi @Account Closed

Welcome to BP, you are definitely in the right place to learn about flipping houses. 

I would definitely recommend J Scotts book as well:

https://www.biggerpockets.com/flippingbook

Hi @Steve Kordish & @Robert Curls

I´d agree that it has gotten a lot more difficult to purchase in Pinellas this year. However I did buy two SFR rentals near Coquina Island earlier this year and continue to keep a close eye on public auction listings and Zillow FSBOs.

However the market has definitely tightened and most of our buying & flipping activity has been in Pasco County over the last six months. There are some decent rental opportunities there and we have also managed to buy, renovate, tenant and sell on a few turnkey rentals to out of state investors on our database. The lower entry levels, much lower taxes and higher yields make it quite attractive (assuming you know how to avoid floodzones, sink holes and mobile home parks).   

Hi @Aaron Baker

If you are ever in Madrid look me up, would be happy to swap real estate stories over a coffee or beer.

Welcome to BP @Chris Battle ! 

This is by far my favourite real estate website. You should definitely take advantage of any opportunities to network with fellow property enthusiasts in your local area.