All Forum Posts by: Marty True

Oops, I was running the numbers as "16 units" instead of 8... I sent my email over in a PM. Thanks!

Hi @Lillie Hernandez - just doing the numbers, it looks like these units are getting about $375/mo. Is that accurate? Or is there a significant vacancy?

@Wayne Brooks is correct. Just file a foreign entity with Sunbiz, with the Texas LLC. RA does not need to be in FL.

@Andre S Walters welcome to REI. What is your goal in building relationships with portfolio lenders, as opposed to (any) lenders? Usually when you get specific like that, there is a specific goal attached so it would help the community to better offer advice if you can be more specific with your goals.

@Drew Burkhard all the info in the previous posts are pretty accurate. $1200 won't get you too much in the "greater" Miami area; Fourplexes are going to range $400k-$800k; etc. What hasn't been mentioned is that before jumping into real estate investing, it would benefit you greatly to start your education in real estate investing. I'm assuming you're brand new based on your original post, so excuse me if this assumption is wrong.

But on that assumption, it would be in your best interest to get some education on REI before starting that journey. You need to have some idea of your goals too. "I've been meaning to get into real estate investing" is a very ambiguous statement and again, with some education on REI, you will have a better plan going forward.

@Rocky Griffin another thing to consider, and be concerned with is... by letting him "live" there while he is working, if it has been 30+ days, he is legally a "tenant" and you may potentially have to go through the eviction process to get him out. Even if there is no lease, if it's been 30 days or more, then this is a concern. Of course, this is purely from my own knowledge of the laws in Florida, best to consult your attorney on this as well.

@Jack Bobeck Yes, I saw some of the damage up there. I moved to Miami Beach just a year ago from the South Bank in downtown Jax, so I know the areas well. Just South of Jax Beach was still not fully recovered from Matthew that went through a year and a half ago so I imagine that there will be some foreclosures in those hard hit areas, while waiting on relief funds.

Here in Miami, didn't really affect the market at all (IMO). We were anticipating some potential opportunities but honestly, it's like it never even happened at all, regarding real estate.

Cool, thanks for clarifying. I lived in Jax for 3 years and know the markets quite well. And you do have to be careful because there are lots of nuances about investing in Jax. I'll try to put a list of neighborhoods/zips for you based on your criteria. Will be later today though...

Hi @Trace Garretson can you help us understand what your "ideal neighborhood" looks like? What are the things that make up "ideal" for you? Also, rather than a budget of your down payment, what is your budget for selling price?