All Forum Posts by: Rob Drum

Rob Drum has started 180 posts and replied 522 times.

Hello everyone! This for me feels like a big leap in my life. Admitting to myself and to others that real estate investing is something that I want to pursue with everything I have is a big first step for me. I have no investment experience, only stock market and IRA's, but I hope to learn a lot from professionals on this forum. My family and I are originally from Cuba. We have resided in Miami for 12 years. I am currently 21 years old and was recently hired with my dream job in Sarasota County (I saw that Sarasota wasn't an option so I picked the closest.) I am hungry for knowledge, and hope to learn as much as possible before my first investment. Thank you!!

I moved to the Sarasota area last year, and have been impressed by the REIA meetings here. There are easily 5-6 meetings per week you can go to and learn from people who have been in this business for decades. When I was first starting, that's how I learned a ton. The key is going consistently and talking to as many people as you can.

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Saint Petersburg, Florida

Quote from @Brian Schamp:

Hey BP,

I’m looking at buying in St. Pete area after the recent hurricane and was hoping to get some real, boots-on-the-ground insight. How’s the demand looking down there right now? What about insurance—has it been a nightmare to deal with? And are there any specific permitting issues popping up post-storm?

I’m not local, so I’m trying to get a feel for what it’s actually like making deals in this market right now. If you’ve been active in the area, I’d love to hear your take—what’s working, what’s not, and anything I should watch out for.

Appreciate any tips or advice you’ve got?

There's definitely some opportunity with people wanting to make moves post-storm. I think demand is decent.

If you're looking in a flood zone you'll definitely want to understand the FEMA 50% rule. That one is a big deal for rebuilding.

I've also heard of property tax reductions for properties significantly damaged during the storm.

Depending on the property and what you want to do, the hurricanes affected property tax, insurance, and permitting in a lot of ways.

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Saint Petersburg, Florida

Quote from @John Aaron:

Anyone know any hedge funds that’s buying right now and their buy box?

I think most of them seriously tapered their buying in 2022. They cut out all but the best locations and were way more cautious. I have seen some offers from Main Street come through, which is one of the biggest hedge fund type buyers.

I've seen offers from Offer Pad and Opendoor in the last few weeks as well.

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Tampa, Florida