All Forum Posts by: Dwayne Byrd

Daytona Beach also has some great options from the Condotels. 

What price range of properties are you looking for? 

Like previously mentioned, if it's listed, the agent is getting paid. My phone blows up with "wholesalers" "investors" etc and many have got a negative connotation for how they are trying to go about it. Many are watching the YouTube gurus and if something is on the market for day 60 phones blow up. There are certain benchmarks of days and we get another batch of calls. Many of these "investors" send out emails on every listing for 100k under value on a 2 to 300k property. I guess if they do it enough times they will land one. 

My advice is to seek out a great agent that is doing a lot of business and help them help you. Use them as a resource and treat them well. They are on the front line and see deals all the time. Treat them nasty or curse them out (like I have had happen because  my guy didn't want to accept a Subject to deal, and you get no where). Most of the time you get more with honey than vinegar. Especially from a good, busy agent.

That information is very hyperlocal and the definition of "small town" matters as well. There will always be a need for rentals everywhere. I would make sure the numbers make sense for the investment. Sometimes you can find lower priced properties in small towns, but the overall values are lower, which bring lower rent etc. Look on the mls and see how long homes have been on the market and available, and compare that to your potential investment. 

Every market is super hyper local. I know here in central Florida, there are several opportunities to buy - even brand new houses that could cash flow a little bit - and keep your capital expenditures down. My best advice is to run the numbers, make sure they work. People are always going to need a place to rent, if things get really bad, A LOT more people will need places to rent. If you look at the prices of homes over time, they have always went up in the long term. Make sure the numbers work for you and your investment strategy.

I have lived in Florida all of my life, but have visited 49 of the states lol. I currently live on the east coast but grew up in the Panhandle. Like mentioned, there are only a couple of places that you could choose to live that doesn't have SOME type of weather pattern that could cause problems (floods, fires, tornadoes, crazy snow, hurricanes, etc.) People have lived in coastal areas for a couple hundred years. Hurricanes do happen etc. oceans will continue to rise. It is also about timeline. The amount that global warming is / would be affecting it isn't enough to be concerned about in out time frames, maybe our kids, grandkids or great grandkids. Coastal properties are always going to be among the most expensive.

I would definitely let the buyers agent that you are working with know, so they know how to handle the transaction. Many agents haven't done a 1031 exchange before and would need to learn the ins and outs of it. It helps them stay on top of helping you officially document the properties that you have identified, etc., which would help them help you find the properties quicker. There are also a few forms in Florida that would need to be filled out, and some communication with your 1031 exchange administrator etc. as well. 

I hate that this happened to you, and I have encountered it before. Contractors could make infinite amounts of money if they showed up, knocked out the job and handled situations perfectly. The truth of the matte is that most contractors could be good at jobs / tasks, not the best business people. We had it happen with a new build that we were working on during covid where the contractor took months extra to start, wouldn't need any money until his credit line was about to be frozen and then need money that day ect. Eventually we payed for windows and doors that were never installed, and he let our septic permit expire which left us in a crazy spot. 

In my opinion it mainly depends on the amount of money outstanding. If it's relatively low vs the costs of lawyers and litigation, I would go with the previous posting and call them out publicly - which could sometimes cost more than the amount. If it's a large amount that they owe you then it would be worth looking into an attorney. A few times in my life I have had to take a hit - chalk it up as bad debt, and keep my project / business rolling. Sometimes you can get into a situation where you are spending good money chasing bad money that eats up more time and resources. My best advice is to also try to look at it numerically, dollar for dollar, and keep it emotionless. I have some clients that want to pursue litigation for principle  as compared to dollars. Make sure you are on the correct side of that.

These types of programs are geared towards primary residences to help consumers with the monthly payments due to higher interest rates. They were very popular right when rates rose up to around 7 percent for that period of time. 

They can help people who for whatever reason could use lower payments now. They are basically a fixed rate product, with a definite interest rate, but gives the buyer a lower interest rate for the first year, two year or three years ect. These are great for people who could potentially refinance in the next couple of years or could be just getting going with their career / homeownership journey or will simply make more money in the coming years. YOU DO ALWAYS have to get prequalified based on what the numbers look like for the FIXED part of the loan, but could help buyers use more money monthly to obtain their goals for the first couple of years.

It's a great hotspot! A place that tourist will always go to year over year. It is great and we have shown several STR up there! It's great because as you mentioned it's the closest to Orlando and one of the best ports for sailing. There are great opportunities all up and down Brevard County! I am a broker in Brevard.