All Forum Posts by: Tim Davis

HI All....I have been away from the BP community for a while.  I thought I would reconnect.  I am a Florida investor and real estate broker.  My brokerages All County Polk and All County Metro focus on helping investors manage their properties in Central Florida.  I am an active investor with 60+ doors that I own individually, 140 doors that I own as a GP and about 900 doors that I am an LP on.  I have been focused on investing in real estate in all different areas of rentals, fix n flips and most recently as a private lender / partner in many different deals.  I would like to connect with others in the real estate space and build my network.  Hope to connect with you here on BP.  Thanks

So my thoughts are if you have a place that you can park the money that will earn you 12% right now then sell and move the money to that investment.  If you don't have that lined up then the house is basically earning you 12% on the $36,500.  (Your rent is $750 and expenses are $360 your are netting $390 or $4,680 per year / $36,500 is 12%)  I don't like my money or equity not making a good return so if you are just going to put $36,500 in the bank and let inflation erode it until the market corrects, I think you will loose.  That's my 2 cents for what it is worth.

@ Deisy P.

Trust but Verify when it comes to repair people.  Sounds like you have done a good job building a portfolio of property now you should spend some time building your team.  Real Estate Investing is a “Team Sport”.  You will do much better if you work on building out that team.  Hope that helps.

I had a deal that I wouldn’t call a “mistake” but a $40,000 seminar.  I bought a house in a golf course community to fix-n-flip.  The community was very well maintained but it was an older community that was isolated from the rest of the world.  Over the years the area around the community had transitioned into a low income / high crime area and this nice community seemed to be an island to itself.  I had one comp to use that had recently sold inside the community and I thought that my house would be a home run based on that information.  When it was said and done, I ended up with a fantastic house that I just couldn’t sell.  After about a year on the market and a lot of lost opportunity I decided to let it go and take my beating.  Lesson learned.

Yes I have a few. I have 4 duplexes for sale (maybe another 4 to the right person (these 4 have seller financing available)). I have about 9 single family homes. All properties are cash flowing very well and are currently off of the MLS because I don't want to work that hard right now.

I have done many creative deals but this is one that I am finishing up today. About a year ago a private lender that I have worked with came to me with a couple of mobile homes that he wanted to dispose of. He had 1st mortgages on them that he had to foreclose on. The borrower was another investor that had gone rouge and had racked up $300,000 of code enforcement liens on one and $80,000 in code enforcement liens on the other. The private lender was wanting to take the loss on his taxes last year to offset some gains and there was a tax deed sale coming up on one of them. I told the private lender that I would buy them but here where my terms. I would give him a $5,000 note with 0% interest and no payments for 5 years for each property. I had no idea how long or even if I could get the liens released. He accepted my deal and I paid the back taxes. I immediately gave the information to my attorney who called the county attorney and in 3 weeks got all the liens released. One of the properties was vacant so I advertised it on Craig's List and sold it about 3 months ago. The other had an unknown tenant so I had to evict them. After I got them out, I turned that one over to a wholesaler who got a buyer and it should close today. When all is said and done I should come away with about $42,000 profit on a deal that I bought with 2 $5,000 notes with no payments and no interest for 5 years.

I'm in Lakeland.  I can help with acquisition, repairs and property management anywhere in Polk County.

Check with Lima One Capital.  They have some interesting products available for investors.  I did a deal with them last year.  

Hi Jefferson....I have bought, sold and am holding a few properties in Winter Haven.   Also probably 30% of the portfolio that we manage is in Winter Haven.  I can help you with what areas are good and what to stay away from.

Jay....I would have an attorney draft a note and a mortgage.  Make sure you record the mortgage.