All Forum Posts by: Ricardo Hidalgo
Ricardo Hidalgo has started 13 posts and replied 532 times.
Post: Which market to target
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Lila Chen:
Hello everyone,
I am looking forward to invest in STR and researching some markets and I need some help or advice. Which market is better to target as I am currently residing near Raleigh, NC. I am considering Metro market in Raleigh, NC, Vacation market in NC like Carolina Beach, or vacation market in FL.
I would love to hear from experienced investors who have some insight into these markets. Any advice or recommendations would be greatly appreciated. Thank you in advance for your help!
Panama City Beach is a great market that many investors are opening their options to. It's affordable, growing and it's an established city on the emerald coast. The airport is expanding and they are starting to bring more jobs and commercial infrastructure. In addition, land values have continued to go up (limited amount of it) which offers a more stable market than the majority of the cities with vast options. I have enjoyed tremendous growth over the last year and half with the ability to scale my real estate portfolio.
Post: Where to invest for decent cash flow and appreciation rates?
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Vik G.:
Hello all - I have invested in Memphis, TN and Jacksonville, FL markets. But, looking to diversify into other markets in the country. Please help suggest markets (as well as will appreciate any investor friendly realtor + property management names - I realize there is the 'find an agent' feature on BP, but that doesn't seem to be comprehensive). What I am looking for:
1. Cash on Cash and appreciation expectations: I am primarily going to optimize for Cash on Cash (CoC) metric that ensures I have a positive cash flowing rental property i.e. after all expenses including the mortgage debt service (with say 20-25% downpayment with say 6-7% interest rates). I will be looking for a 5%+ CoC and decent history of atleast 3-5% appreciation. Not looking for the next Austin, but just decent market which will weather the recession if there is any. Don't want to invest in tier 3 (unknown/unheard/middle of nowhere) cities.
2. Open to SFH/Duplex/Triplex/Quadplex: I have invested in SFHs until now in other markets, but very much open to investing into a 2/3/4 plex as well. Cost range can be $150K-$300K for SFHs. Realize that 2/3/4 plex will be higher in price.
3. Neighborhood: I am open to A+/A-/B+/B- neighborhoods. Will want to avoid C category neighborhoods.
5. Rehabs: I like to minimize rehabs and prefer to have homes that are move-in ready. Don't mind short/small rehabs
Panama City and Panama City Beach should have long term and short term rental options with higher appreciation historically than 5% (we have had over 8%). I have found some options that have grossed 10-15% of the purchase price too! Let me know if you would like to connect.
Post: Just got 60k. How can I double/triple it?
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Richard Purdy:
I just want to make as much money as possible at this stage of my life. I have 60k. What’s some ways I can double or triple it within a year or so? I’m specifically asking how to maximize my return within the field of real estate with the money I have right now. Should I buy a multifamily and rent it out? Continue wholesaling? Looking for some ideas
You should look into flipping or trying to build homes. Long term rentals holding requires lot of units and an appreciating market. "FAST" money or always requires some sort of risk.
Post: Hello From Franklin, TN!
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Matt Bogosian:
Good afternoon everyone! I hope you all have had a good weekend. My name is Matt and I am a Realtor in the Franklin, TN area. In addition to being a Realtor I am also managing my STR property in Port St Joe, FL. I am looking to learn more about investing so that I can buy more properties myself and help my clients buy more as well. If you would like to meet up for a coffee or lunch would be happy to meet.
Be happy to meet if your are interested in value add/ flipping or new construction builds to max out your equity or hold your values in this market. That is the primary way we hedge against the market is by doing bigger improvements so it builds are equity positions.
Post: Sarasota vs Emerald Coast
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Dan Sneller:
Does anyone have any thoughts and reasons which market is better for STR condos in the $400-500k range? Pros and cons comparison, etc.
Panama City Beach will have gulf front options that can do 10-12% of the purchase price and I own in other complex off the beach that can do 12-15% of the gross purchase price on rentals. Panama City beach and the emerald coast has tons of developments coming. It seems to be the hottest market for entry level investors or people wanting exposure when visiting a beach market!
Post: Another newbie. Best areas to buy my first STR
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Joseph Amaturo:
I am new to investing and looking for the best area to start. I am in NY BUT looking to move to either NC, SC or FL in a year. I was looking for either a home or condo by the beach because they seem more easy to rent weekly. I would need a mgt company to watch over it but don’t know the best percentage to look for.
Any wisdom from you seasoned investors is greatly appreciated! Thanks in advance and taking time to reply.
Blessings.
Panama City Beach market has adjusted favorably towards buyers. Most of the properties in STR market are at 10-15% of gross rentals in comparison to purchase price. They have options under 400k near the beach which is a good entry point for most investors to get exposure in a new marketplace.
Post: Investing 400k in real estate
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Taylor D'Ambrosio:
Hello,
I'd like to get your input on how you would invest 400 K. I am a 30
year old middle earner in finance and live in the Midwest. I do not work in real estate but understand the basics. I have 400 k that I would like to deploy for real estate and would like to start soon. My goal is to
invest the 400k and have good positive cash flow a year at least 30k. By the time I'm 40,
I'd like to be around 80 - 100k. I would
like the investments to be mostly passive but hands on is fine too.
The asset category I am considering are single family/mulit long term buy and hold rental properties.
Should I split the funds and use down payments/mortgages or purchase cash and get HELOCS?
You all have much more experience than me, so I am hoping that you all will give me a sense for how you would handle things.
Thanks!
I would look into value add opportunities. Personally, I am a big fan of leveraging your money if you hold strong equity or cashflow positions. That way you can diversify the funds and see which areas produced better results. Cash is a safe option but could limit your exposure in other opportunities. I like to buy renovate and hold or flip depending on the profits we can capture in the short term.
Post: Leads for cashflow STR properties?
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Tarek Soliman:
Looking to invest in out of state STR. realtors who got an existing STR portfolio and understand their market analysis and projections!
Are you wanting to renovate into str?
Turn key only?
What is your preferred cash on cash return and price point?
Post: Beach, Mountain or City location?
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Bobby Paquette:
If you could only pick one type of location to invest in STR's for the rest of your investing career, which type of location would it be? Near the mountains(Like Gatlinburg), near the beach(Like Destin), or in a city(Like Vegas) and why?
*Doesn't have to be the locations I used as an example just wanted to give an example!
I think Panama City Beach is a great choice because you get the beautiful emerald waters, great cashflow and the market had adjusted to the interest hikes giving buyers more opportunities to buy better deals. In addition, ST Joe is a huge hedge fund that owns billions in assets and has invested over 350 million in 2022 for their commercial growth and to bring more jobs. The emerald coast offers newer construction options since it's gentrifying and stable long term growth.
Post: STR or Long Term in Destin & Fort Walton Area
- Real Estate Agent
- Posts 552
- Votes 253
Quote from @Ben Adamo:
Good Morning,
My name is Ben Adamo and I currently have a few long term rentals up in the Northeast. I am coming down to the Fort Walton area for work in the next few months and will be making these trips for the next few years. I am considering purchasing a STR so I can stay there when I am down for work and then rent out when I am not. I not really know much about how short term rentals and/or how the market looks in the area for something like that. Any advise, info, points of contact would be greatly appreciated as I am trying to build out my network and would like to meet and potentially look at places while I am down there during July/August timeframe. Thank you all in advance!
Hi Ben, which price points are you considering? Are you wanting something that needs work or turn key? How often are you wanting to use it a year? Do you have a desired return on cashflow or equity?