All Forum Posts by: Ricardo Hidalgo
Ricardo Hidalgo has started 13 posts and replied 532 times.
Post: Insurance Crisis Florida

- Real Estate Agent
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Quote from @Ashraf Eldabh:
I'm about to start investing in direct real estate in florida which traditionally have been a hot market but I'm worried about the insurance crisis affecting the market and cash flow. What do you guys think?
Buy new construction and make sure quality of build is there! We just got an STR quote for a 1.5 million dollar property on the beach at 4200 a year! Pretty cheap if you ask me.
Post: 1031 Into New Market Cash Flow Properties

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Quote from @Scott Hanson:
I have multiple properties in the Los Angeles area that are being sold, and we are looking for new markets to 1031 exchange into. In the past our model was largely built around property appreciation. However, with this change we would like to reoptimize the portfolio for cash flowing properties, and are not particularly concerned with appreciation. We also have two other investors/portfolios who are looking to do the same thing. Looking for advice and real estate professionals to meet and potentially work with.
Panama City beach has the ability to cashflow at 10-15% of the gross purchase price. In addition, it has good appreciation since that beach market is right next to 30A. Right now we have a 6 bed 4.5 bath pending at 1.5 million with 175k projections and 120k on the books after only being rented for 7 months this year. HOI came under 4.2k a year for STR purpose.
Post: Turnkey investment opinions

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Quote from @Troy Baack:
In much of the research I have done I have been struggling to find rental properties that are going to be able to cash flow well in this economy. I am looking at investing for the long term and am okay with getting into a property that only breaks even or only has a small cash flow. At this time I don't have the capacity to try and work on a BRRR or other rehab projects and I am looking at investing in a turnkey property. My main questions are:
- What are your opinions on turnkey properties?
- Are there any markets you would avoid?
- Do you have any helpful tips you would give to new investors?
I would look into buying something that can be renovate in a strong appreciation market and you should be cash flowing positive after the remodel. Right now are properties are doing 7-10% cash on cash return even with the current rates doing it this way.
Post: Cost to build

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- Votes 253
Quote from @Sam Zawatsky:
@Ricardo Hidalgo Also, do you build the houses lifted off the ground by pilings? That adds to the cost that you wouldn't have inland. I may have to change plans f I cant build for less than $150/sq. ft reliably for basic builds
Your elevation certificate should tell you and then requirements based on dirt fill. Not always needed but sometimes it is required.
Post: Cost to build

- Real Estate Agent
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- Votes 253
Quote from @Sam Zawatsky:
@Ricardo Hidalgo Do you find that the high flood risk and being at such a low elevation causes issues with hurricane damage and property insurance costs being high?
I always buy flood insurance regardless if in flood zone or not. It's the risk to being in Florida but taxes are lower and appreciation is great! Every market has its risk.. whether its tornadoes, fires, earth quakes and hail.
Post: Cost to build

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- Votes 253
Quote from @Sam Zawatsky:
@Ricardo Hidalgo Could it be that you are paying a bit more per sq. ft to build near the beach than you would if it is more inland? I get it that it's more profitable on the beach because you can sell with more margin, but aren't the construction prices higher on/ near the beach?
It's the same materials.... the only difference is beach has a higher price per square foot. Very little to no margin on inland unless you have held the lot longer than 2-3 years minimum.
Post: Cost to build

- Real Estate Agent
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- Votes 253
Quote from @Sam Zawatsky:
Hello,
I have been interested in buying a vacant lot and building a duplex on it. I have never built anything before, and have only bought two single family homes that were built decades ago. I am hesitant to purchase land without knowing what I would expect to spend to build a 2200 sq ft. duplex, however. What kind of sq. ft prices could I expect for a simple build? I do not expect to get the best prices either, because I do not have many construction connections or ways of saving money yet. I would be getting a general contractor home builder to handle the construction. The area would be the Florida panhandle.
I build on the panhandle..... 150-175 is what I am finding for more traditional builds sub 350k, unless you are going to go really cheap on materials and go very basic. Small margin on inland builds. All the money or higher margin is on the beach since higher price per square foot.
Post: New Construction Duplexes-Panama City Beach

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Quote from @Jodey Rifenburg:
I am an experienced investor builder here in the panhandle of Florida. Currently I am completing three spec duplexes that will be listed next week. I'm moving to the 4th on this project and will continue to the next three in the same area. If you are interested in more information please let me know. Great area STR/LTR potential less than 2 miles from the beach.
Please send me info!
Post: New Real Estate Investor | Looking for Cash-Flow Properties Under 500k

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Quote from @Rohan R Gupta:
Hi BP,
I'm new to real estate investing with one rental property under my belt. I'm looking for positive cash-flow properties that has a high potential of appreciation as well for $500k or under. With current interest rates, mortgage payments will be quite high so I will need some kind of property that can generate some monthly income (even if it is very little). Which markets should I be looking at that can be cash-flow positive but could also appreciate rapidly in the next five to ten years? I am looking for a single-family (or multi-family property) and will buy and hold.
The emerald coast offers options under 500k that can be value added for quick equity growth and a cashflow position. We are surrounded by 5 military bases therefore properties always stay rent around their Base Housing Allowance. We owned a few in these areas and did well on resale with strong rent growth.
Post: Florida Short-Term Rental/Airbnb Markets - Share Your Insights!

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Quote from @Matthew Tregoning:
Hey BiggerPockets community!
I'm currently researching short-term rental and Airbnb markets in Florida and would love to hear from those of you who are actively involved in this space. I'm particularly interested in learning about the various markets you're in and what you personally love about your chosen market.
Here are a few questions to get the discussion started:
- Market Location: Could you please share which city or area in Florida you operate your short-term rental or Airbnb property? This will help us get an idea of the diverse locations across the state.
- Favorite Things About Your Market: What are some of the standout features or attractions that you believe make your chosen market a great place for short-term rentals? Is it the beautiful beaches, vibrant nightlife, family-friendly activities, or something else?
- Property Type: Do you primarily rent out single-family homes, condos, apartments, or other types of properties? How did you decide on this property type for your market?
- Challenges: Are there any unique challenges you've faced in your specific market that other hosts should be aware of?
- Tips for Success: What strategies have you found to be effective in maximizing your short-term rental or Airbnb's performance in your market?
- Local Regulations: Have you encountered any regulatory issues or licensing requirements that hosts should be aware of in your area?
- Future Prospects: Lastly, do you see your chosen market continuing to thrive for short-term rentals in the coming years, or are there any trends or changes on the horizon that could impact the market?
Feel free to share any other insights or stories you have about your experience with short-term rentals in Florida. Your input will be invaluable for those looking to invest or get started in the Sunshine State.
Let's get the conversation going and help each other navigate the exciting world of short-term rentals in Florida! π΄π π
I am in the panhandle of Florida. 30A/PCB Area.
I think we have some of the most beautiful beaches in the United States with easy access for other metro cities to visit. We have tons on people that continue to come back or buy properties to hand down to their families for generation wealth. Very affluent market with tons of construction pushing high price per square foot on resale.
I like townhomes or single family homes. Right we are trying to get long term or mid term rental style to accommodate more people.
Challenges is having to stand out from the rest. Design, incentives and having to adjust with the market.
I haven't had any issues with the county
I see our market as a prime equity position for years of growth ahead. For the next 10 years I can see our market cap doubling and perhaps even tripling due to the amount of money, restoration of Tyndall AFB and St Joe developing more high end communities.