Ep. 85 Eric Black: Tips for Out of State Real Estate Investors

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out of state real estate investorsReal estate investors know that Florida’s real estate markets are tightening up. As the demand begins to outweigh supply, real estate investors are having to become much more diligent in their property searches. This is especially true for out of state real estate investors looking for Florida properties. Out of state real estate investors must not only know their desired market, but also how to acquire and execute deals from a remote location. How can out of state real estate investors keep track of the Florida markets?

This episode, we speak with Eric Black. Eric is an investor based out of California who has owned properties in several different states, including Florida (Brevard County). Eric’s position is a unique one in that real estate investing is currently ancillary to his full-time job in the technology industry. With the ultimate goal of a transition towards full-time real estate investing, Eric has adopted an interesting perspective on real estate investing that may be helpful for other out of state real estate investors. This episode, Eric discusses how he handles a full-time job along with being an out of state real estate investor and shares tips for others.

Tips for Out of State Real Estate Investors Looking for Properties

  • Adopt Marketing and Search Strategies
    • Build local network to market your investment goals and aid in property search (realtors, contractors, developers, investors, financiers, etc.)
    • Direct mailings
  • Know Your Market
    • Best to visit your desired market area with a knowledgeable local contact
    • Statistics and data research
    • Google Maps/Google Earth
  • Have Effective Property Management
    • Property management benchmarks: vacancy turnarounds, communication with owner
  • Helpful Tools for Investors
    • Find a mentor or follow someone who has found success in your desired market
    • Rich Dad Poor Dad, by: Robert Kiyosaki

Also discussed in this podcast are past episodes that could be relevant to out of State investors:

http://investfloridashow.com/ep-84-daren-blomquist-florida-markets-hot/

http://investfloridashow.com/ep-83-eric-nathanson-winning-strategies-bidding-foreclosures-broward-palm-beach/

For any out of state real estate investors who would like to contact Eric to discuss more about his investing strategies and goals, email him at: emblack@gmail.com

**  Special thanks to Nicole Valentin for making a guest referral to our show. Check her out at http://www.nvadvertising.com/.

Ep. 83 Eric Nathanson: Winning Strategies for Bidding on Foreclosures in Broward & Palm Beach

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39134_469261331200_3956131_nFlorida was hit hard following the real estate crash in the mid 2000s. As the market began to return, real estate investors saw the foreclosure market as a well-spring of opportunity and many took advantage of the asset class. However, as real estate markets have rebounded, foreclosure markets have begun to dry up. Investors have found it increasingly difficult to find successful strategies for bidding on foreclosures.

Our guest this show has been buying and selling foreclosure properties since the late 1990s. Focusing solely on Broward and Palm Beach counties, Eric Nathanson has developed successful strategies for bidding on foreclosures and has earned a leading reputation in South Florida’s foreclosure real estate markets. Eric is co-founder of Bidologist.com, a third-party turnkey investment company offering investors bidding on foreclosures a single source for investment solutions. This episode, Eric discusses the current trend in South Florida’s foreclosure markets as well as strategies for investors bidding on foreclosures.

  • Broward and Palm Beach Foreclosure Markets
    • Majority of real estate markets returning to pre-crash point
    • Large foreign investment/flight capital base
      • China, Brazil, Venezuela, Russia
    • FC supply thinning
      • Investors no longer able to cherry-pick from select areas
      • Must cast wider net to suit investment goals
      • Online bidding
        • Easier for investors to gather info on properties
        • Bidding pool expanded internationally
        • Bank has option to hide bid, making bidding more selective
      • Likelihood of future foreclosure markets slim
        • Financing regulations much stricter
        • Cash-laden market
    • Possible market for investors who can afford to purchase condos with rental restrictions and wait them out
    • 5% down required for bidding on foreclosures
  • Bidologist.com
    • Turn-key investment solutions for investors bidding on foreclosures
    • Personal relationship with clients
      • Strategies suit individual investor goals
      • Fees based on volume, property value, etc.
    • Handles due diligence
      • Preliminary and full title searches, property inspections

For any further questions regarding strategies for bidding on foreclosures, contact Eric by phone: 954-735-4000 or by email: info@bidologist.com

To find out more about the services offered by Bidologist.com, visit their website!

 

 

 

 

 

Ep. 80 Cuban Immigrants – Coming to America & Discovering Real Estate Part 2 of 2

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AR-150819374“Inventar”: last episode, we were introduced to this phrase by our guests, Josue Romero and Juan Nunez. The hardships faced in Cuba as young men and as immigrants to Florida instilled in them an invaluable determination to thrive and to make the best out of any situation given – to invent success out of nothing through hard work. This episode, we learn how Juan and Josue applied these principles to Florida real estate as we trace their success stories from their introduction into the real estate industry to where they are today.

Josue was introduced to the financial side of real estate in 2009, at the peak of the financial crisis that crippled Florida’s real estate markets. We learn how he was able to find success as a mortgage broker despite the dire state of real estate financing. Juan, with Josue as his mentor, entered the investment side in 2011 and quickly found success in the single-family residential markets fixing and flipping. Together, Juan and Josue formed a dynamic, cooperative relationship founded on principles of hard work and perseverance and are now leaders in Florida’s single-family markets. Josue is the owner of MyLendingHub.com, a mortgage calculator website and Juan is owner of Zenun Enterprises, a real estate investment firm. This episode, they discuss their approach to lending and investing as well as the current state of Florida and Hillsborough’s real estate markets.

  • Focused on Single-Family Markets
    • Majority fix-and-flip deals
    • Emerging in development and construction
  • Hot Hillsborough SFR Markets
    • Carrollwood
    • Citrus Park
    • Town ‘n’ Country
    • Northdale
  • Appreciations not really a problem for next couple years, but investor pool diminishing
  • Lending markets moving from FHA to conventional institutions (Fannie Mae, Freddie Mac)
    • 3% down for qualified investors and lower premiums than FHA
  • Tips for Investors
    • Focus on single market and expand only after well-established
    • Large portfolios are difficult to manage alone
    • Have a team; network with agents and brokers
    • Due diligence is key
    • Stay in budget

For lending inquiries or solutions, contact Josue by phone – (813) 802-6970 or visit www.mylendinghub.com

For any investment inquiries or potential investment opportunities, contact Juan by phone – (813) 766-2959

Ep. 71 Elise Batsel – 7 Things Landlords Should Know About Commercial Leases

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11058_bioimageWhen transitioning from residential or simply starting your investment portfolio in commercial real estate, it is important to remember one thing: commercial leases are not the same as residential. Commercial leases are subjected to a much higher percentage of risk if not properly structured.

Elise Batsel has made it her business to ensure landlords are protected in any commercial lease issue from the ground up. As counsel with the Tampa firm Phelps Dunbar, LLP, Elise specializes in commercial real estate land-use and zoning. Elise represents developers and institutional lenders in acquisitions, dispositions, financing and transactions as well as all aspects of commercial leases. In this episode, Elise discusses seven hot-topics all landlords and owner/operators should know about commercial leases.

  1. Commercial vs. Residential Leases
    1. Commercial properties have different costs and expenses that can be transferred to tenants: common area maintenance expenses (CAMs)
    2. CAMs may include: utilities, landscaping, management fees and other costs associated with owning and operating commercial properties
  2. CAM and Triple Net Leases
    1. Triple Net Lease – For landlords and tenants who want stability; does not account for unanticipated expenses or for properties without a familiar investment history
    2. CAM lease – Serves as umbrella to protect landlord/owner from future costs and expenses incurred from property management; specifies expenses and tenant liabilities
  3. Tax Implications
    1. Though not frequently addressed in lease, tax implications are a major tenant-landlord discussion that could be beneficial for both parties
    2. Leases can stipulate landlord ownership over tenant-improvements with proper recompense for tenant
  4. Americans With Disabilities Act (ADA)
    1. Commercial real estate considered public accommodations and subject to more ADA compliance regulations
    2. Represents huge liability for landlords not in compliance
  5. Sub-letting and Tenant-Assigned Leases
    1. Landlords can address sub-leasing and assigning terms in commercial leases
    2. Landlords entitled to portion of income from tenant leases
  6. D-I-Y Leases
    1. Do not attempt to draft generic commercial leases if self-managing property
    2. There are many changing facets to follow when drafting commercial leases
    3. If drafting your own lease, have attorney or specialist review
  7. Protection Against Bad Tenants
    1. Always ensure strong deposit from tenant
    2. Small-Claims Court
    3. Write effective demand letter to tenant

For any commercial lease, zoning or land-use issues and questions, Elise can be contacted by phone at 813-472-7564 or through email at elise.batsel@phelps.com

For even more information on commercial leases as well as landlord and tenant relationships, Elise suggests the following articles: Tenant’s Checklist of Silent Lease Issues  and Model Landlord’s Checklist of Silent Lease Issues – S.H. Spencer Compton, Esq. & Joshua Stein, Esq.