All Forum Posts by: Lewis Anderson

Hello I am a Real Estate agent that has connections with other agents that give me properties that are great with investing. Please let me know if I can help you find your next property.

I am curious how would someone get financing on a international property

Hello an agent has approached me and asked me to find buyers for

1643 Lima Ave, Kissimmee, FL 34747 8Bdrm 6Bath 4,041 SQ Ft

10 mins to disney and perfect for a Short-term rental

• $820k asking price
• Zestimate®: $1,057,200

Hello my name is Lewis Anderson

I was approached by another agent with an off market hotel and motel as well as office buildings near Miami.

1) South Beach Boutique Hotel on Ocean Drive: Asking $35MM 49 rooms has been renovated Good additional revenue ($540,000/year) from lease income from restaurant and bar. 9 years left on new lease they signed about 1 year ago.

(2) Main motel is on Federal Hwy with two buildings directly behind it and one across the street from the two buildings behind the main building.

• The main building consists of 15 units (9 studios and 6 hotel rooms)
• 2nd building has 6 units in it
• 3rd building (3-1 bedrooms,2-hotel rooms,1 studio and 1-3 bedroom)
• 4th building is 2-2 bedroom 1 bathroom units

Asking price is $7,500,000 with approximately 7.8% cap rate

3.  Office building in Pembroke Pines It's now on the market and my seller has 12 units of the building and 4 units are owned by others. Based upon my seller already leasing two of the units, the 6.8% is proforma for 2023 with signed leases.

If you want more information please let me know the agent said that for financials you need to sign an NDA.

Hey I have experience with both Short-term and long-term homes. I can tell you that Florida is a gem for both. I would love to connect with you and help you find that property and we can work together and help you get success.

I would definitely look at both Mr. Perry is absolutely right about Lakeland. Having worked in both Orlando and Tampa Lakeland is a good spot. I also have been in Riverview and it is also very good for investment properties. It is far away from the crazy Tampa area therefore it is great for prices and beautiful homes.

I know Riverview very well you can get great homes for less than in the tampa bay area. It would be a lot harder to do short term rentals there but not impossible because you have Apollo Beach further south. I can definitely help you with finding a place and setting you up on the mls. Please let me know. I also have a lot of real estate agent contacts that let me know if there is a good home for investers.

I have just been approached by a fellow agent about a home in Baco Raton 

The house is listed @$600k, RPR -$570k,Seller will accept low $500k.We got offers $456k and around but he would accept $520-30… with fast closing..Similar 4/2 yet renovated is $749k in the same community. 
 
Please DM me for more details

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $520,000
Cash invested: $6,000

House Hacking. I bought a home that has an in-law suite and I am living in the one bedroom one bathroom while a family is living in the main home.

What made you interested in investing in this type of deal?

I enjoy the idea of having my mortgage paid for by the tenants and me living for free.

How did you find this deal and how did you negotiate it?

A local real estate agent.

How did you finance this deal?

VA home loan

How did you add value to the deal?

repaired the air conditioning and the plumbing.

What was the outcome?

I had a family move in.

Lessons learned? Challenges?

It took time to get the home rented out and while that was happening the home stood there and was a liability

Quote from @Lenny Reinstein:

Quote from @Austen Mueller:

Congradualtions on deciding to jump into real estate. 

 Do you REALLY want to buy the "cheapest" rental that will cashflow. I think your asking for a bad first exprience. I agree you should start small but too small is a seperate issue.  One bedroom studio is going to be a condo. Condo doesnt nessessarly=cheap. Usually they are located in more expensive downtown areas. In my market of PA, I just helpded a buyer purchase a 2bed/2bath condo unit for $255k. An hour down the road the same buyer could have bought 2 seperate properties they own fee simple. 

Lots of markets you can buy cashflowing property for $100k or under. But again. That isnt alweays the easierst property to own. Even with property managment. Rougher tenant base typiclly and more delayed maintinaceand & vacancy, whitch will deplete your cashflow and increase advil intake. I would target B class property for ease of ownership.  

If the "cheapest great deal" is 250K, so be it. My focus on getting an STR place that will have 85% occupancy or higher. So I am thinking Florida - Orlando area or Tampa area or Greater Miami, but open to suggestions. Assuming I am not greedy and OK with only 2-3-5% profit the first few years, what would you recommend? 

Miami is very restrictive on STR. Tampa you can find some great properties that can get you good revenue but 250K is low. If you want to stay in the Tampa area than you can go further south to the Riverview or Apollo Beach Market where things are cheaper those places are great for LTR. Orlando you are more likely to find a good property closer to that price, but your options are limited. If you need an agent in the area to show you around look me up.