All Forum Posts by: Marc Middleton

I regularly send out e-mails with MLS & Loopnet properties to my investors that are always 7%-9%, from Treasure coast to Miami. Properties are out there ,just have to sift through all of the crappy ones, do your research, know the rental markets, evaluate what it needs, etc.

very time consuming process so most people give up or wait 1-2 years before they ever buy something. 

Analysis Paralysis ! 

Thank you TIM for adding the correct info. Its always important you do your own research and not just trust people on the board. 

Not every policy will have 'wind' which is for hurricanes. Also, you'll need flood insurance too. A quad in Victoria Park, insurance should run you 6k-10k like the person above said. 

Lakeridge will come around eventually, hang in there. 

0.7% isn't bad, it all depends on the maintenance. People get too hung up on cap rates. They are meaningless when you have constant repairs. I'd take an easy to manage, no maintenance 6 cap over a pain-in-the-butt, always fixing stuff '10' cap. 

Anything over 2 units will more than likely require 25% down. Fannie Mae guidelines are pretty strict. Otherwise, you'd have to go portfolio lender (maybe they do 20%) or hard money, which would be much higher. 

if you don't have even $20k saved, sounds like you are far off yet. Better off starting by buying a duplex, living in 1 side, moving out after a year, buy another one, etc etc. 

things to look for:

Current rental demand

Current rental supply - are they building more apt complexes/affordable housing? 

Anything new coming to the area

what's driving the rental demand

You can then look at rental listings on the MLS and check days on market in the price range you are seeking.

hope that helps!

 Any interest/feedback?

 Ok, just sent you everything!

 the new casinos that opened up and recent sports gambling bill that passed might just save A.C. I was there last NOV( I know off-season) but it was so empty and very eerie with those dark, closed high rises. 

Can't believe the deal someone got for that Revel building! 

 Just following up on the numbers we sent over..any interest? 

 Hello,

Check your mail! Just sent you the updated financials for the building. 

Open to offers!

Marc

 Hello,

Yes, actually it is! We had a new tenant move in the front unit, so the numbers need to be adjusted upward. ($1632 to $1765/month). The Rear unit, #1 is vacant now and we are actively showing it for $1550/month. 

Let me know if you'd like a private showing.

Thanks!

Marc Middleton