All Forum Posts by: Hunter Purnell

Welcome! If you ever need any help in SE Florida feel free to reach out!

That sounds like a good plan. I purchased a live-in flip for my first home. I don't necessarily regret it, but I think I would have been better off finding a 4-plex and house hacking. Then I could have looked for a live-in flip. My advice would be go for the most they will loan you as long as you're in an appreciating market and you can find a value-add. It's easy to be upside down with only 3.5% down. Good luck!

Leverage is also very important. I get that having a paid off property is very comforting, but to me it's not the best move if you're trying to grow. 20% down and 3% annual appreciation means you're making a 15% return on your downpayment. 

I agree with the replies above. You need to invest in commercial. You will still get calls but probably 1/10th. It's much less management work.

If it were me, I would try and get a line of credit on your property just in case a deal pops up. If you're not interested in flipping you could still use it for an another property and then do a cash out refinance of you were able to find a great deal.  

Financing depends on your scenario and what type of property you're purchasing. If you're purchasing a single family home you can use traditional financing like you probably did on your house or you can do a commercial loan. If you can find a seller willing to finance you might be able to get more favorable homes. I suggest 6 months of expenses to keep in cash. Hard to do in the beginning but that's where I feel comfortable. 

You can use airDNA for market statistics to see what the property would rent for and to to see what a comparable nearby is yielding. 

I usually just google "market name" airbnb or short term regulations. It will take you to that municipalities website. 

I only have one STR I mostly do LTR but I know location and amenities are king.

Ours is a 1 bedroom and has a pull out couch. I probably would have tried to come up with a way to do 2 bedroom so that we could sleep more. I believe that's what's hurting ours. 

BiggerPockets is a great place to learn. You can look into different strategies in the forums. I would also suggest YouTube if you like to watch vs read. My personal favorites are Ben Mallah, Graham Stephen, and Chandler David Smith. There's many more out there depending on what section you want to get into. Podcasts are also great, bigger pockets podcast is one of the main reasons I'm into real estate. Lots of good stories and great information on there. 

I'm an investor and an agent that just moved to the West Palm Beach area. I'm looking for someone who can provide insurance quotes in the area for myself and clients. I just purchased an investment property and looking for quotes now. Please send me a message or reply here if you can help!

Thanks,

Hunter Purnell

Everyone has a different idea of what a good deal is. For me, I care mostly about CoC (cash on cash return) and overall ROI (return on investment). I like 15% CoC and 30% ROI. Those numbers aren't easy to find, especially right now. I would say a 10% CoC and 15-20% ROI are reasonable returns. Some people just want to make $100 or $300 or whatever their number is per door. Varies by market and person. I agree with Michael, probably need to make 100 offers per 1 accepted to find a good deal.

I will keep you in mind for any clients or myself! 

Thanks, Hunter

My name is Hunter Purnell. I'm originally from Kentucky and moved to Palm Beach County to pursue real estate full time. I was previously in construction equipment rentals and did real estate on the side. I have flipped multiple properties mostly land and SFH. I currently have SFH and multi-family long term rentals and I partnered on a short-term rental. I have some experience in commercial and industrial real estate. My family also owned a construction company, so I have some experience in handling projects associated with real estate. If any investors are looking to buy or sell any properties in the area I would be glad to help! I love finding deals and helping people pursue their goals.