All Forum Posts by: Joshua Townsley

After interviewing and working with many options I decided to go with a smaller firm where I would develop my own client base to start not one that only new the team leader but if you want to get ahead landing a job with the big 4 is amazing but just short of that I would tell you to take a look at Marcus and Millichap. The training is top notch there. Lots of time doing cold outreach but that is every where.

Best of luck!

Depends where you want to be at the end of the day. if you will be here a while then buying is a good idea, you will build equity without a doubt. However if you want to leave soon then maybe renting is the better option for you. Remember properties are cheaper outside Miami which looks attractive year 1 but year 5 the rent growth in large metros will so far outweigh the first year difference it is worth buying the more expensive place now more times then not. 

When it comes to holding a mortgage and trying to find cash flow you are going to have a harder time right now but it isn't impossible. If you want to try BRRRR that is a route to go but if not then you might find looking at some condos and townhouses the rents out weigh the monthly costs including HOA/COA fees. We have found a few neighborhoods for our investors where they can generate cash flow at 20% down. There are very very few if any opportunities for 5% down/ FHA to cash flow.

Cap rates don't always show the whole story. Take a look at things like rent growth and IRR. For higher level deals these are vital and really they should be used in smaller transactions as well.

Best of luck with the journey!

Down in SE Florida about 1/3 of transactions are closed cash the last time I checked and whenever we submit cash offers for clients we get actually get responses from the sellers. It is the world we live in. 

Using someone who is local MIGHT be beneficial for you versus a larger/national company though those will have more connections to lenders a smaller local company knows the area and can provide insight that others can not. 

Best of luck!

The cost is standard but having a level of care when placing the tenant is also standard. I'm not sure of the exact situation but if the tenant leaves they probably forfeit their deposit for breaking the lease. 

Best of luck! 

Really depends on your capital/ability to handle a project. Renting out land is not really a great option unless it is very large or very desirable. If you have the land and the ability to line up the money and have comps to justify the build then that would probably provide the best return for you. Look up other properties near yours that have been developed and look at the price they sell for (not listed for but SOLD FOR) per square foot and if it is over the average new build per square foot cost in your area and has enough room for selling costs (8-10% of final price conservatively) and profit then that would be the best option more then likely! 

Best of luck!

The license is not that big of a deal, more then likely the course and exam won't teach you anything, I didn't learn from it and I took it when I was just starting. If you want to get started for real, you need to first learn the numbers. COC, Cap, IRR, Income and Expenses amongst many other things. Bigger pockets is a great resource for learning all of that but also take a look at youtube. I learned the majority from under writing deals and talking to those who had properties for sale and learning what goes for what in my market. It takes time but experience is everything. After you can under write a deal with confidence then you can start to wholesale because now you know the numbers, you won't just be winging it. The issue is wholesaling is very competitive right now but if you want to be in the industry it is a great way to start!

best of luck with the journey!