All Forum Posts by: Brian Garrett

I'd suggest you really dig into the numbers and make sure it's truly a 15% cap.

I find it hard to believe 8plex's in Park City are bringing that type of return or every investor would be there.

I'd wait to find a killer value-add commercial multifamily deal and use for DP and OpEx.

Sounds too good to be true so I'd dig deeper into it and see what the catch is.

$54k property bringing in $1,400 rent (almost 3% rule) just doesn't exist around here.

You won't be able to get a conventional 30 year fixed loan if the property is under an LLC.

You'll need to look at commercial/portfolio loans which will have a slightly less favorable term/rate.

Don’t announce having $750k cash on a public forum and ignore all of the colleague requests and messages you get with “deals and opportunities” as these will be from people looking to spend your money on what benefits them rather than invest it in what benefits you. Put your money somewhere safe for now (I.E. high yield savings account) while you learn and get comfortable analyzing deals. 

Most of the multifamily around here are in rough areas as I'm sure you've noticed.

For a duplex your best bets would be Delray, Lake Worth, Wellington or Palm Beach Gardens.

I don't know your budget but Lake Worth would be the cheapest option for a decent neighborhood.

It works the exact same way just on a larger scale.

It can certainly be effective but it's the oldest method in the book and saturated with a million other investors doing the same thing.

I’d buy a commercial (5+ unit) value add multifamily building, reposition it, stabilize it and then either sell and do a 1031 exchange to trade up to a larger multifamily or refinance and hold for cash flow depending on the numbers.

Flips here in Palm Beach County are the exact opposite of what you described. They’re hard to find, require bigger rehabs and have slim margins.