All Forum Posts by: Patrick Bavaro

@Sarp Ka I live in FTL and have 1 property here as investment. You’re right, it’s very expensive and the tax rates make It difficult to cash flow, but It is possible. Mainly, I think there is a heavier speculation for most investing in SoFlo. I’ve started looking and buying in other FL markets who I feel are exploding in growth and transplants from other states such as Ocala, FL and Cape Coral, FL.

Currently I’m building a 4/3 new build in Cape Coral. Total all in cost is about $265k and I financed It at around 3.6% with 10% down. Rents right now are at about $2300 and climbing. Currently post construction appraisals are coming back at $340k-$410k depending on location of the property. If I play my cards right I will be Anel to do a cash out refi, still cash flow decently and take all my equity out to do it again. I’d be happy to connect to share experiences. Good luck!

@Michael Lanci welcome and congrats on taking the first steps of action! I am going to agree with some of the others that this does not seem like a great deal. Def betters ones out there, and just my opinion, I’d avoid HOAs for your first purchase. There are better deals out there, even with turnkey!

urrently I’m building a 4/3 new build in Cape Coral through a turnkey provider . Total all in cost is about $265k and I financed It at around 3.6% with 10% down. Rents right now are at about $2300 and climbing. Currently post construction appraisals are coming back at $340k-$410k depending on location of the property. If I play my cards right I will be Anel to do a cash out refi, still cash flow decently and take all my equity out to do it again. I’d be happy to connect to share experiences. Good luck!

@Randy Ching hey Randy, welcome! I completely agree with you. This is actually exactly how I got started with REÍ. I have a demanding full time

Job and I didn’t hVe the experience yet to feel comfortable taking on a project of my own so I used turnkey company. In fact, currently I’m building a 4/3 new build in Cape Coral through a turnkey provider. Total all in cost is about $265k and I financed It at around 3.6% with 10% down. Rents right now are at about $2300 and climbing. Currently post construction appraisals are coming back at $340k-$410k depending on location of the property. If I play my cards right I will be Anel to do a cash out refi, still cash flow decently and take all my equity out to do it again. I’d be happy to connect to share experiences. Good luck!

P.S. - I’m in Hawaii too this week! Oahu though.

@Jonathan Feliciano not in Miami, but in the same geographic region here in Broward. I currently have a rental in Hollywood that does OK, but that’s just recently because of the rent hikes. I don’t think rents are keeping up with how expensive the market is so I’ve started looking out of market, specifically Cape Coral and ocala. Simply more meat on the bones and opportunity to be had.

Currently I’m building a 4/3 new build in Cape Coral. Total all in cost is about $265k and I financed It at around 3.6% with 10% down. Rents right now are at about $2300 and climbing. Currently post construction appraisals are coming back at $340k-$410k depending on location of the property. If I play my cards right I will be Anel to do a cash out refi, still cash flow decently and take all my equity out to do it again. I’d be happy to connect to share experiences. Good luck!

@Sterlena T. ’ve used a few, but the one I’ve stuck with now is RentRedi. Easy to manage tenants and payment, lease signing etc. And they have an integration with a property maintenance company called latchel that will source the bids and hire based on the thresholds you set. It’s pretty cost effective too and I think BP has a good discount for It.

@Jaime Osuna turnkey was my first purchase and I am SUPER happy I went that route. I will say that due diligence is key here as there are many bad turnkey company’s with far less good ones.

Currently, I’m in the process of building a new build 4/3 out in Cape Coral FL through a turnkey provider. Total all in cost was right about $265k, only required 10% down, rents right now at about $2300, and post construction appraisals are around $340k-$410k depending on the location. It’s a win win win all around for me. Let me know if you’d like to connect. Just message me. Good luck!

@Avid Najdahmadi have you considered OOS? I don't live in Cali, but I also live in a high priced area near Miami. Very competitive market so I've moved my SFH purchases to some other parts of Florida that have people flocking to them from other states such as Ocala and Cape Coral.

Currently, I’m in the process of building a new build 4/3 out in Cape Coral FL. Total all in cost was right about $265k, only required 10% down, rents right now at about $2300, and post construction appraisals are around $340k-$410k depending on the location. It’s a win win win all around for me. Let me know if you’d like to connect. Just message me. Good luck!

@Andy Acosta I think it's a great idea if the numbers work! Makes It even more lucrative IMO. I'm actually working on a BRRRR right now that I think will turn into a potential STR, but instead of Buy I'm Building!

Currently, I'm in the process of building a new build 4/3 out in Cape Coral FL. Total all in cost was right about $265k, only required 10% down, rents right now at about $2300 LTR And around $4k/mo estimated as STR, and post construction appraisals are around $340k-$410k depending on the location. It's a win win win all around for me. Goal is to cash out refi at the end and pull all my equity back out Let me know if you'd like to connect. Just message me. Good luck!

@Kati Attaway ton of benefit. 2/3rds of my rentals are out of market purchases. To me, it’s almost the same as if I bought It down the street. I was honest with myself and told myself that at the end of the day, I didn’t want to do the repairs directly and manage the tenants, so I just used a property management software that has an integration with maintenance platforms and it’s been great.

Currently, I’m in the process of building a new build 4/3 out in Cape Coral FL while I live about 3 hours away. Total all in cost was right about $265k, only required 10% down, rents right now at about $2300, and post construction appraisals are around $340k-$410k depending on the location. It’s a win win win all around for me. Let me know if you’d like to connect. Just message me. Good luck!

@Sam Abraham there are a ton of strategies to use in todays market climate. One of the benefits is high potential for appreciation and rental increases after you purchase. This can be market specific of course! Are you looking to just stick to your neighborhood/market for your purchase? Have you considered elsewhere? I'm in the same position as you being able to use my VA loan again, but the problem is with 0% down it's hard to find a cash flowing asset.

Currently, I’m in the process of building a new build 4/3 out in Cape Coral FL. Total all in cost was right about $265k, only required 10% down, rents right now at about $2300, and post construction appraisals are around $340k-$410k depending on the location. It’s a win win win all around for me. Let me know if you’d like to connect. Just message me. Good luck!