All Forum Posts by: Eric Sax

I have land under agreement in Tampa, Florida. Hoping to develop and sell two Single Family houses for a good return. Have a good builder who I have used on a previous project, should be a little over a year after closing to get the two houses built and sold. Looking to raise money from friends for the construction and offer them an equity return. How should I structure deal? What's the standard return? Should I have some of my own money in the deal? How would my return differ from my friends/investors. Also, would there be a guaranteed amount I would receive for overseeing everything, even if the property does not end up making money? Looking for some advice here. And again, I really just want to do the standard and simplest structure which aligns to the current market/market rates. Thanks everyone!

Hi Everyone, I am a Massachusetts-based investor who has primarily done buy and hold deals in Boston, Mass and Tampa, Florida. Last week, I broke ground on building two single family homes in Ybor City in Tampa, Florida which I am hoping to sell once completed. I am financing the majority of the deal myself, but will be about ~100k short with my personal funds so I am looking to raise the final $100k. I am looking for strategies and advice on how to go about obtaining funding. The land was bought in cash so there is no debt on the property. I have looked into hard money lenders, however with all of the fees and points, interest rates tend to be at least 15%. Crowdsourcing seems like a good option, however, I am not too familiar with that route. A private investor would also be ideal, but again, the issue is finding the right person. Any tips or advice from past experiences would be appreciated!

I own a condo in a 12 unit building in Boston and the condo docs require 100% approval from every owner to amend the condo docs. We have one unit owner who won’t agree to change the docs so I wanted to know if there were any Mass laws or precedents in place which would allow us to amend the docs without 100% approval of every owner

Hey Chris, that makes sense. I guess I never thought of it that way. I’d love some examples of good investment properties in your mind. I’ve been looking at Ybor and potential appreciation from the Rays stadium hopefully going in. Not being local a condo seems to make more sense though I guess if it’s managed professionally it doesn’t really matter what it is.

I am a Boston-based real estate investor looking to start purchasing investment properties (condos and SF) in Tampa. After getting quotes from multiple property management firms in Tampa, prices are way more expensive than the prices I pay in Boston (~6% in Boston versus 9-10% plus a tenant placement fee in Tampa). Is there a reason why property management seems to be way more expensive in Tampa than in Boston? Does anybody know less expensive but reliable options for property management?

Thanks,

Eric