emudryj

Was wondering if anybody in THT is on the real state business here in South FL.

I happen to know more than a couple of foreign investors that are looking into investing in the real state market here in South FL. 1 or 2 bedroom apts, to buy and rent.

This guys are not looking to move into these units, so time to wait for good deals is not an issue. They are looking for investments oportunities.

I understand that realtor and his relations to different banks, are the key points in these type of situations... anybody in here that would have somebody to recommend?

I believe that triplenet was in the real state industry, but on the commercial side, so any tip will be greatly appreciated.

Thanks in advance.

__________________
The "Ideal Society" is where there's "Maximize Freedom and Responsibility for the Individual". Where people have the right to live their own lives as they see fit as long as their not hurting anyone else with their Freedom.

Please, ask me who said it.

"Dr. Ron Paul cured my apathy"

Jesus wears a bracelet that says "What Would Ron Paul Do"

triplenet

Where specifically are they looking, what kinda price range, how are they closing (cash or debt) and who is going to lease and manage the units ?

I may have a few brokers to send your way but they will ask these questions...

__________________
Gause Built 26
USS Ranger - CV61


The timid man yearns for full value and demands a tenth. The bold man strikes for double value and compromises on par.

SeaJay

We'll assume for now that these foreign investors are not from Nigeria.

ScarabChris

I'm also looking into buying some kind of fixer upper or foreclosure. Would be looking for ocean access in south Broward or north Dade. Minimum of 3 bedrooms, pool would be nice. Would like to pay $150K.

This is an idea the wife and I have to buy the house, spend a couple of years remodeling it then move in and rent out our house...which is also ocean access. But we want a little more yard for the kid and want to get from behind the low bridges.

Hook me up triplenet!

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www.CoastalNightLights.com

Flot

Talk to OldPete about inventory and availability of "deals" on waterfront homes... it's amazing he never snapped and took a chainsaw to anybody.

From what I've seen, the market has tightened up CONSIDERABLY over the last 6 months. A buddy of mine who has had his house on the market for 5 years has suddenly started getting offers.

__________________
2004 Cape Horn 31

triplenet

Chris ---- Those deals for 150k on the water are long gone..... Pete and I have been looking.....

You would need to be wayyyyyyy west of US1 with fixed bridges and a POS house...

__________________
Gause Built 26
USS Ranger - CV61


The timid man yearns for full value and demands a tenth. The bold man strikes for double value and compromises on par.

emudryj

Hey!!! I have not contacted you yet on my commercial lease, because i do not want to waste your time until I'm sure I'm leaving the building I'm in...
Negotiating with current landlord (management company actually) right now, and I do not know yet what's gonna happen. Anyway... You are my first choice if our negotiations go south...

Changing the subject...
Where specifically are they looking?
Anywhere in SouthFl (I assume South Broward and Miami) where the best deals to buy and then lease are.

what kinda price range?
I understand they are looking for small units, 1 or 2 bedrooms apartments/condo to make it easier to lease out all year around.
I'm not completely sure but probably something between 50 to 80 to start.
There's one of investors in the pool that is willing to be the guinea pig and make the first move so thats where I'm guessing the 50 to 80k, but it is something that it could be discussed.
I also understand that the preference is for fewer amenities (to keep maintenance dues low) rather than have a high monthly maintenance to keep a club house, security guard, golf course, etc... and that type of amenities that cost money to the owners.

how are they closing (cash or debt)?
It is my understanding that loans to foreigns are a fairy tale... but I may be wrong... Ol'e hard cash (obviously wired through banking institution nothing shady or anything like that) would be the first choice.
I understand that their chances of getting better deals would increase when the seller does not have to deal with a lender denying the loan at the last moment.


and who is going to lease?
I'm certain that leasing being handled by the same realtor that help with the buy will be preferred. It may seem like an incentive for the guy to find deals that would be quick to lease and get a commission on the sale and also on the lease.
Also to avoid "misunderstandings" on one realtor guesstimating $2000.00 per month lease possibilities for a particular unit and end up with a different realtor that could claim that the most it can be leased is for $800.00.
If it's the same guy it would be harder promise something that it will not be possible. Or at least thats their logic.

and manage the units?
good question.... options, advice and suggestions will be welcomed.

What do you think? if it's easier for you to talk about it over the phone rather than typing mile long posts, I can call you at a time that is good for you.

Thanks in advance!!!!

__________________
The "Ideal Society" is where there's "Maximize Freedom and Responsibility for the Individual". Where people have the right to live their own lives as they see fit as long as their not hurting anyone else with their Freedom.

Please, ask me who said it.

"Dr. Ron Paul cured my apathy"

Jesus wears a bracelet that says "What Would Ron Paul Do"

emudryj

nope.. not from Nigeria, even the country they are from may soon become very similar to it.

__________________
The "Ideal Society" is where there's "Maximize Freedom and Responsibility for the Individual". Where people have the right to live their own lives as they see fit as long as their not hurting anyone else with their Freedom.

Please, ask me who said it.

"Dr. Ron Paul cured my apathy"

Jesus wears a bracelet that says "What Would Ron Paul Do"

emudryj

Hey budd... if you find something like that, I will be 2nd in line rigth after you....!!!! I do not need the pool, we have one and barely use it.

__________________
The "Ideal Society" is where there's "Maximize Freedom and Responsibility for the Individual". Where people have the right to live their own lives as they see fit as long as their not hurting anyone else with their Freedom.

Please, ask me who said it.

"Dr. Ron Paul cured my apathy"

Jesus wears a bracelet that says "What Would Ron Paul Do"

emudryj

xactly what I thought.... always late...

__________________
The "Ideal Society" is where there's "Maximize Freedom and Responsibility for the Individual". Where people have the right to live their own lives as they see fit as long as their not hurting anyone else with their Freedom.

Please, ask me who said it.

"Dr. Ron Paul cured my apathy"

Jesus wears a bracelet that says "What Would Ron Paul Do"

emudryj

I have no idea how is the buying and selling market, but I've noticed the rent prices going up like crazy!!!!

I assume that it's due to banks getting tougher when lending money, and all the families that lost their hoses and end up with destroyed credit score...

__________________
The "Ideal Society" is where there's "Maximize Freedom and Responsibility for the Individual". Where people have the right to live their own lives as they see fit as long as their not hurting anyone else with their Freedom.

Please, ask me who said it.

"Dr. Ron Paul cured my apathy"

Jesus wears a bracelet that says "What Would Ron Paul Do"