All Forum Posts by: Danielle Fattizzi

@Brendan Moore Welcome to BP! I also reside in Saint Augustine but am doing all of my MF Investing in Jacksonville. Planning to expand into other areas of Florida soon. Please PM me if you need anything. As far as investing goes, what is your focus?

Aaron Meadows go to Barnes and Noble and buy a copy of Ken McElroy's "The ABC's of Real Estate Investing" and "The Advanced Guide to Real Estate Investing." These are the books that made it all fall into place for me. You get a good dose of theory and mindset conditioning, followed by step by step hands on application. And listen to the BP Podcasts! Stay active in the forums. That is your perfect recipe for a strong start. The community here is super helpful so always check to see if someone has already asked your question in the forums and if not, start a thread! Good luck!

Chris Jackson that's amazing! Stay fired up! Good for you for opening up your focus to not just SFR but also MFR. I work solely with MFR so if you ever need anything feel free to PM me. Good luck!

Terrance Clark a great way to get tons of market info is to check out whatever city you're considering purchasing in on bestplaces.net. Also, Ken McElroy's books "The ABC's of Real Estate Investing" and then "The Advanced Guide to Real Estate Investing" were pivotal in my comprehension of the hands on application required of me from Step 1 and onwards in multifamily real estate investing. Good luck! PM me with any questions!

Rosie Giacosa I work out of North Florida -- are you strictly set on Miami-Dade?

@Todd H. Welcome to BP and good luck! The podcast is a great place to get ideas for your business plan. 

Hi @Dominique Ivey! I would certainly start getting recommendations for attorney's/accountants now and taking them to lunch to explain your business plan and see if you can collaborate well with them -- this way you will be ready when the time comes. The website is something other BPers may have more advice on. I am in the wholesaling business as well in Jax and haven't established a website yet but BP has been excellent for networking in lieu of a website. Direct mail is how I find my deals and I haven't found a need for a personal website yet. Good Luck!

John M. As an example, today I received a counter offer on a MFR deal that told me TONS about the seller's lack of motivation (despite the broker's various assurances that the sellers are VERY motivated). Ask Price was $575k and from my detailed analysis of property and market, the value of the property is just barely over $400k. I offered them $380k knowing it would be met with surprise and likely disdain. In fact, I almost started to think I wouldn't receive a counter offer at all. Then, lo and behold, I received an email today with a counter offer of $555k, presented to me via the broker as a "good deal." Am I frustrated? A little. Do I want to take the time to explain to the broker (who is a residential real estate broker) and the sellers that their ask price cap rate is below the market cap rate, the #1 indicator that this deal will not benefit any buyer? Sorta. What I WILL do is thank them for their time and let them know that if they eeeever want to sell their property, my offer will be available --whenever they are ready to be reasonable :) Sometimes you have to walk away and move onto the next one.

David Latham welcome to BP! I was born in Norwalk, it's a great place! Good luck!

I typically use ARV = pro forma NOI/market cap rate. Be careful with this as there are many factors affecting this number. Be diligent in trying to achieve "as accurate a pro forma NOI as possible" (if you will) and make sure you procure your market cap from a viable source. Hopefully that's what you were looking for!