All Forum Posts by: William Byers

@Amanda Sutherlin I love to see how this discussion led you to make an offer that is being considered and actually works for you.  Too often people negotiate the deal with themselves before they even put an offer forward.  If you are told to "make me an offer," the first number you give should make you downright uncomfortable saying it out loud. 

Murray Hill is defined by the boundary of Cassat Ave., Roosevelt and I-10, south to Park St.  I define it as C neighborhood, and the area of last years purchase was Plum St., north of Post and west of McDuff.  Be glad to share the details thru PM if you wish.

Your own back yard.  Unless you are a large investor, I believe that focusing on areas you know very well and understand the local market dynamics, you are chasing yield at the expense of risk.   In my local market (Jacksonville FL), I cover 20 zip codes that have opportunity for short term (flip) and long term (buy & hold).  Unless you know each of these areas in detail, you are relying on the advice of others.  Caveat emptor!

@Benjamin Kanevsky 

You have a license, so you can market this in any number of ways, but have you managed property for other owners before?  Is the broker you hang your license under engaged in property management or are they strictly transactional?

If they don't offer that service, talk to you broker about adding that service to the brokerage business and let you run that for a while.  Building that PM portfolio will give you experience and credibility.  After you've had your license for two years, you can get your brokers license and launch your own PM company.

I've just engaged someone to develop my site using Wordpress.  I have been impressed with his portfolio and will be glad to share his info, as well as the final results of mine that should be up in the next month or so.  PM me if you are interested. 

I agree everyone is still 'asking' for Flips, but I'm seeing very few that make financial sense and I am recommending the B&H strategy. The lack of deals is driving me to different sources than I have been using. I did one B&H last year in Murray Hill last year that provides 16% CoC, but I will take 12% in a B versus 15% in a C because of the added risk for those units and the higher potential for appreciation as a long term buyer.

@NA Beauvais 

I believe rents will continue to appreciate at a reasonable rate for B+ property, as potential buyers still have difficulty getting approved by lenders and need to rent. In 2014, Jacksonville home sales were about 40% cash purchases, as investors continued to drive the demand to a great degree. However, margins are getting too low for flippers, and this year will provide buy and hold investors the opportunity to invest in solid B neighborhood properties that return in excess of 10% ROI (CoC). There are also properties that provide 15% return in this market, but you've got to adjust for risk (higher vacancies, more maintenance, more turnover, etc.).

Welcome Jimmy.  There is a local Meetup next Wednesday (1/14) at River City Brewing starting at 5:30 pm.

Read the following US News & World Report article and share your thoughts on your market.

http://goo.gl/Y7GmTm

I'm a proponent of buy & hold in Jacksonville FL.  What's your market like?

Shawn,

The SDIRA requires all transactions to be done thru the trustee account. You will not be able to replace your daily JOB income with investments solely within your SDIRA. You can use these funds to partner deals - the options are very extensive. I suggest you get some more detailed info from a trustee. I personally use Equity Trust, and have Traditional and Roth IRA's, CESA for my kids and a Health Savings Account. I will be opening a Solo 401(k) this quarter for my business and putting as much as I can into this vehicle. I use these various accounts to minimize my current tax liabilities and fund deals with a longer term strategy.