All Forum Posts by: Renzo Figueroa

If you purchase the property for 100 - we can help on the DSCR front. Our min loan amount is 50k on DSCR --- but appraisal needs to come in over 75k.

Renzo,

Glad to see you here on BP.  I am a very active investor/realtor in the Greater Daytona area.  I ONLY work in real estate with investors, so if you need/want help, let me know.  There are many, many agents out there and 98% of them really have no idea about how investing actually works.  I put my investor customers' needs first, because I don't need to make a real estate paycheck to pay my bills.  With that said, to answer your question:  Cape Coral has been well over done.  For the past two years, or more, it has been about the hottest place in FL to invest.  Now that it is saturated, it is starting to fall off.  Lots of big investors went in, driving prices and now pricing is very high.  Many sellers are having to make huge price cuts to sell flips and/or new construction, so be careful there.

With your buying criteria, Daytona area is still a great market with strong numbers.  You should be able to find a decent property, if you can put in a little sweat equity.  However, finding a turn-key for $200k is not likely possible.  The places you will find for $200k won't make the rent rule, which should be a non-starter for you.  You will need patience and need to keep your eyes open.  I just recently sold a duplex property to an investor for $225k, which was bringing in $2800/mo, so you can find them occasionally.  Sorry, I don't know anything about Tampa or Panama City areas.

The Tampa Bay area is more than likely not your market with those buying criteria.

You will have to put meaningful sweat equity and be creative in your leasing (MTR, rent by room etc) to produce a 3bd SFH <200K purchase price that cash flows.

Have you considered Jacksonville?

@Renzo Figueroa Hey there only looking for cash flow or also appreciation and equity after a  while?