Ep. 96 Jillian Bandes: Making a Complex First Invest in Small Multifamily

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multifamily investListeners of the show will remember Jillian Bandes who, in episode 74, discussed what real estate investors should consider about building structure when looking at commercial multifamily investing. The project manager for Bandes Construction covered 6 hot topics on building structure and maintenance that investors should be aware of with commercial multifamily properties.

In this episode, we discuss Jillian’s first investment property….a single family home with an ajacent rental apartment.  She discusses razing the property, dealing with the local code and building officials and her plans on whether to rent the units or live in one and rent the remainder.  The property was purchased through a foreclosure and we cover the online methods now employed by Pinellas County.  Not only is this project about a potential home and investment, but Jillian is  passionate about blazing the trail for urban renewal and redevelopment in St Petersburg’s core and her unit is in the heart of a rapidly changing area.

  • Residential property permitting and zoning regulations differ from commercial properties
  • Property location
    • Choose property in an area you are familiar with
    • Walk surrounding neighborhood
  • If investment property, define target rental market
  • Due-diligence
    • If foreclosure property, know state of title (liens)
    • What is the property zoned for? Is property up to code? Accessory buildings permitted?
  • Work with local and municipal officials
  • St. Petersburg, Florida
    • Undergoing immense urban growth period
    • Investors need accessibility to invest in properties with potential for redevelopment/renewal
    • South St. Pete offers development opportunity and reasonable prices w/ proximity to cultural amenities

Jillian extends a big thank you to Carlyn Neuman of Tampa’s 360 Realty for helping to navigate online foreclosure bidding as well as to Katrina Trump of Bank of Tampa, for assisting with securing financing.


Ep. 61 Jean Francois Roy: Staying Flexible is the Key for Residential Developers

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Jean-Francois-Roy-687x1030Real estate markets are entering a new phase. Nationally, investment markets are evolving to suit new demands from consumers. Here in Florida, theses changes are causing ripples of concern for investors and residential developers. What does the generational shift mean for the future of residential real estate and what can investors and and residential developers due to anticipate and adapt to these changes?

Jean Francois Roy, Founder and President of Ocean Land Investments shares with us his story and discusses the importance of flexibility as a residential developer and investor to find success in the market. Beginning his foray into residential real estate in his native Quebec, Canada, Jean Francois focused on developing high-end retirement living spaces. Following the American economic recession in the early 1990s, Jean Francois moved his venture to Florida, focusing on Ft. Lauderdale markets. Jean Francois quickly realized that flexibility and understanding the demands of the market was imperative for the success of any residential developer or investor. Ocean Land Investments continues to be a leading residential real estate firm due to Jean Francois’ drive and flexibility.

  • Staying Flexible
    • Residential Developers: Purchase land during market/economic slumps
    • Markets with high populations reduce vacancy risks
    • Adapt to market demands
      • In Ft. Lauderdale, high retirement-age demographic good for multi-family residential (apartments, condos)
    • Recognize consumer trends
      • “Going green” – buyers and tenants willing to pay premiums for environmentally-geared projects/renovations
      • Shift towards “conservative” structures from “extravagance” of 2000s
    • Be amenable to joint ventures and refurbishment projects as opposed to new developments
    • Be wary of overambitious or amateur developers straining the market

To contact Jean Francois Roy or to find out more about investment, leasing, or purchasing options with Ocean Land Investments, call the office at (954) 558-3187 or visit their website