All Forum Posts by: Eric Odum

Not bad hunting in Polk county either @Adrian Smude! ;-) 

Thanks for the kind words, @Adrian Smude

We really like Jax, too, @Shane Clark.  It is behind the other majors in Florida in terms of price appreciation.  

If you find a deal that reasonably cash flows, why does it matter? The better question should be, "what else can I do with the money besides real estate?" The spread between the 10 year treasury and MultiFamily in Tampa is what 5-6 points? Three years in a treasury as opposed to a 7.5% CAP multifamily is ostensibly a self inflicted tax....if that spread were considerably less, I might be more inclined to pay the tax and move in to the treasury. Spreads right now between the two yields are actually pretty reasonable from a historic perspective. It is tough to find yields right now....doesn't matter what asset class that is out there.

no kidding...I was sweeping catfish back in to the pond at my house.  :-) Glad the sun finally decided to come out.  

and be prepared @Devonte Dinkins

 for a long lead time.  We just completed a loan and it took three times longer than we anticipated.  It is a very, very good deal, though.  Worth the wait.  

Count me in, please!

My advice (and I am a broker) is get your ducks in a row....credit, wants, desired location, what you will and will not accept...and reach out to multiple agents. Ask  to be called when deals come available.  Make sure they understand you know what you want and that you can execute.  

Brokers get inundated with requests from tire kickers wasting their time. Most have tight networks of a handful of investors with which they are capable of executing deals. If you get in to their inner circle, they will take care of you. ...but don't rely on one.  No broker has control of the market and we usually have access to off market deals, known as pocket listings.  

TD Bank has a program.  

Check out Keith Ringelspaugh, John McMillan or Barbie Moss. Barbie is particular aware of IRA issues and notes. Not sure in what area you are considering investing, but all of these three are investor sensitive and base their practices on investors.