All Forum Posts by: Todd Rigden

hello,

Anyone have input on the best way to find wholesalers? I'm looking for properties in SWF, port Charlotte, Punta Gorda, Ft Myers areas.

Is there a good wholesale list on the web somewhere?

Thanks,

Todd

Travis Hamilton thanks for the reply. Our math is the same and it is time to take my loss like a man!

Hello BP Team,

I'm looking for a little advice from the veterans out there.

I've built a team (money people, contractors, Realtor, etc) and working deals as I find to either buy & flip single family (SF) as well buy & hold multifamily (MF). Flips to help pay for the holds.

I have a SF rental due to the crash in 2007... Bought 2004 as primary residence, got married, move to a city 100 miles away and could not sell the house and did not chose to walk away or try & short sale. The home has equity again but only enough to keep me from paying out of pocket at closing.

The rent does not pay the entire monthly cost, financial details below. I've had it in my head to use the home as a means to fund my 2 boys college education in 12+ years.

Home value $180k

Mortgage $162k

Monthly payment $1610. (Pay mortgage insurance).

Rental income $1295

Annual HOA Fee of $350

19 years left on mortgage

Built in 1986 and have done some repairs to AC and roof but neither replaced.

Home is 100 miles away from where I live  (and where I focus my current deals) but I'm in the town often due to work (I still have a regular job in IT Sales).

The home seems to rent well and I've found decent renters, current family is at the end of year 2.

My question is this... Should I stay or should I go. I have some emotional equity and a lot of financial investment in the home that may be clouding my business judgement.

I do gain some tax benefits as I write off the mortgage and repairs but the home still costs me each year. Should I cut my losses now (10 years later) or hold on and reap the (potential) financial reward of sticking it out? 

Any insight is appreciated!

Todd Rigden

Punta Gorda, FL

Jerry R. I live in Punta Gorda and looking at short term rehab flips as well as long term rentals. Connect with me if you have some time to discuss working together. I have a team for rehab as well as access to capital, quality leads has been my challenge.

Ken, I'm new to BP. Live in Punta Gorda Florida and interested in investments for short term rehab/flip as well as long term rentals. I have a network of contacts built up for rehab work, legal and finance. Looking for some great wholesale people who know the business... Tired of someone trying to "sell" me on the best deal ever. Looking at current stats, North Port real estate is selling like crazy. Let me know if you'd like to connect sometime. Todd

Hello fellow Canadian. I live in Punta Gorda but originally from Vancouver British Columbia. Single-family home lots in Port Charlotte and surrounding areas are a dime a dozen. What were you looking to do? Invest and hold or buy to build? Check out the satellite pictures on Google maps. There are a lot of vacant lots which tells me the pricing will not necessarily increase that quickly.