All Forum Posts by: Account Closed
Account Closed has started 1 posts and replied 380 times.
Post: Help needed in vetting investment plantation property in Brazil
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Fred Stevenson:
In addition to the bigger pockets webcast, I also frequently listen to the real estate radio guys podcast to further enhance my education. They had a show recently with a speaker from an investment firm offering opportunities to buy sections of cashflow producing agricultural land in Brazil. The arguments were made for investing in agricultural real estate, and Brazil in particular. I spoke to the company managers, and they are going to put me in touch with some of their current investors who have visited the plantation. I'm looking for some advice in terms of how to vet an foreign investment. Their proforma shows a IRR of 18% per anum over 20years. However, year 0 - 6 has 0% return, and then it escelates from their and from year 8 to year 20 the returns are in excess of 40% cash on cash per annum. I'd be happy to email the proforma's to anyone that may be able to help me vet this opportunity. Thanks.
A section is about 640 acres so when you say you are buying 'sections' land just how many acres are we referencing here and what sort of money is involved? There need to be some information regarding the exact nature of the investment. Is there a name of the company and something that does describe particulars?
Post: Is Anyone Wholesaling or Doing Direct Marketing Internationaly?
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Harry Asnien:
You have to be very careful when buying any real estate internationally. The way things are done in different countries often vary although in some countries there are some similarities.
Post: how to find deals, is foreclosure a deal? how does things really work
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Mohammad Jaradat:
Not all foreclosures are a deal and neither are houses where multiple investors are bidding on.
Post: If there are no deals in the SF Bay Area...
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Jonny C.:
then what can I do in the mean time besides saving and learning more about REI? Like a lot of people say on here, you just have to get started but it's tough if there's nothing to purchase. Ideally I'd love either a SFH or a 2-unit building with 75% LTV or less. Anybody seeing anything out there? Any where in or within 30 mins of SF.
If there aren't deals locally where you are located, you may have to look outside of where you reside.
Post: What time of the year is the best time to list a house?
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Dawn Brenengen:
@Account Closed
I agreed that my sample size is too small, but it does go along with the widely held belief that the best time to list is in the Spring.
It may be that your experience may coincide with the market norm.
Post: LTV
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Mendes Garvin:
To you Greg here in VA most of the banks own the REO .Suntrust, Wells Fargo. Bank of America to name a few, as well as the community banks. Just wondering if there is a different stragety to use to get banks to let go of property.
Of course.. but how much do you have to spend?
Post: Advice Needed - Sell or Rent
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
If something happens to the renter -- they loose a job, break a lease etc. and you are out of state, can't readily find another renter, would there be a problem servicing the $280,000 mortgage? What is the local rent market like and house price movement?
Post: LTV
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Mendes Garvin:
is 65% LTV a reasonable starting point when trying to purchase a foreclosure. Can't seem to get banks to let go of their REO. Is there a different strategy I can employ?
It sounds like you are trying to get a property from a bank at 65% of ARV (or market value). Which bank? The bank is often not the most responsive seller and they often try to get very close to the market value of the property. Some investors get frustrated trying to go this route.
Post: How is the rehab market in your area?
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @David Weis:
I am in the Tampa Bay area and Wall Street has completely screwed things up here. They have pumped so much money into homes here to rent them out that the inventory is now just crack houses. I am sitting on money but can't find decent single family houses to rehab. I need to start looking outside this area.
Is this still the case where you are at?
Post: Starting a direct mail campaign
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Adam Jordan:
...I've sent to absantee owners once and didn't have a great experience....
When you say that you did not have a 'great experience' from a direct mail effort, that almost warrants clarification. You often would have to quantify results somehow to compare.