All Forum Posts by: Mitchell Jaworski

@Mike Miller your goals sound similar to mine when I started about 5 years ago.  It's good that you have a 15+ year picture, everyone wants to get rich in a year it seems.

I agree with @Tom Parris comments about property age.  At a minimum it does make things easier when you are starting out.  My first two properties were in 2001 which helped eliminate alot some worries about electrical, etc.  Then again, I generally play it safe which is why my RE blog is called ScaredyCatGuide.  

If you can find something that cash flows a bit after factoring in some maintenance and vacancy costs that does not need a bunch of work I say have at it.  In the end it's cash flow that matter with long-term rentals.

After starting off with "safer" plays I expanded and my third property was a reno project but still mainly cosmetic.  Thus, all three of your points are reasonable and workable.

Yes, you should be attending meetups/REIAs regardless.   I have two that I attend in my area that have lead to actionable information.

For $125, good karma and having it as a backup for any future issues.  I don't see how this is even a discussion.  Maybe I'm too nice, but I have had good experiences with my tenants in my four years and have been profitable on all my properties from the jump.

Not sure if you are looking for private or traditional lenders, but Lima One Capital is a private lender that does 30 yr loans on investment properties.   You can also go the community bank route a look for a portfolio loan, which will give you flexibility to expand/borrow on more properties.

@Donavon Davies hope you make it.  Been a minute!

@Tim L. delray meetup has been a good one, bunch of investors of all experience sharing experiences and knowledge.   Next one is May 12th I believe.

Definitely looking forward to other's responses to this.  As for my thought @Jordan Hamilton the South Florida market on a whole is probably getting near the seventh inning stretch to reference baseball.

I only hold SFR and that is my thought, I hear the multi-family game has been fully priced for some time now.

In the end, if one is buying to hold long-term and generate monthly cash flow then as long as the numbers work and it cash flows positive it might now matter as much.

Be sure to work those numbers though: vacancies, maintenance, etc.  gotta factor it all in.  Definitely use a property calculator.  I have one I made in excel.  Let me know if you need it.

@Account Closed- ain't that the truth!  Love that you are cognizant enough to use your employer as a gauge for when it's time to get out of dodge!   You lend in FL only, correct?

I've started looking out of state, not sure if that's helpful.  I know people finding deals in Broward, but you have to hustle.  They are generally non-hoa communities and homes that need updating, may be the sweet-spot.

@Louis Piront since you are already doing out of state investing why not look in other areas too where the numbers are better and opportunities are more plentiful.   

I'm familiar with the st. lucie area and looked there last year as it is only an hour north of me.  I myself have started looking out of state as #s here are so tight now.

There are still deals to be found but usually off-market.  I have local wholesalers send me stuff all the time and only a small % are decent deals.

@Nate Forsyth you should come network with a bunch of us at 1pm this Saturday at Gizzi's coffee.  We meetup once a month and there are investors of all experience.  Investors talking over coffee, no pitching of selling.  We usually have more than a dozen people.