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Eric & Steven Talk the Florida Market

Good to be back! Eric Odum and Steven Silverman took an involuntary break for a few weeks while Eric healed. They return to discuss what happened…and what is going on in the Florida market since they have been away.

Key Discussion Points

[01:11] Introduction by Eric & Steven (discussion about Eric’s accident / why they’ve been away for 2 months)

[04:00] Recap of what’s been going on in the market (banks collapsing, etc)

[07:50] Why Florida is more insulated from economic issues relative to other parts of the country

[10:33] Discussion about the residential market

[13:54] Discussion about the commercial side

[14:52] What’s been going on in the Office Market?

[20:58] Cap rates

[23:49] What does the future hold?

[29:43] Closing comments by Eric & Steven

About our Guest

Florida Investment Real Estate provides turnkey real estate investment solutions for our clients. With a diverse background in Florida’s commercial real estate markets, Florida Invest Real Estate offers investment services for individual and institutional investors seeking retail, multifamily, and medical office properties of $500k to $10m.

Florida Investment Real Estate provides comprehensive investment services beyond basic real estate brokerage, assisting clients with deal sourcing, property management, and disposition

GUEST CONTACT INFO
Website: investfloridashow.com

The post Ep. 261 Eric & Steven Return from an Involuntary Leave of Absence and Talk the Florida Market appeared first on Real Estate Investing in Florida.

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Avery Jordan: Update on the Multifamily Market

Avery Jordan gives us an update on the apartment / multifamily market in Tampa and central Florida with discussions on how the Fed rate hikes will affect the market over the next couple of years and why he thinks the multifamily market and the market in general will continue to do well.

Key Discussion Points

[01:07] Introduction by Eric & Steven

[04:32] About our guest: Avery Jordan

[05:51] How did you get intro brokerage of apartment buildings in the area?

[08:07] Give us your perspective on the multifamily market over the last 6 years

[10:39] How is the Fed’s rate hike affecting the debt side?

[12:53] What is SOFR (Secured Overnight Funds Rate) and it’s significance?

[14:53] What are the conversations you’ve been having around timing of putting things on the market?

[17:27] Who are some of the larger bridge lender players in the area of financing?

[19:04] Renters are now paying close to 50% of take-home pay – is this sustainable?

[21:00] Do you also deal in the development market?

[23:23] Steven’s and Avery’s persepctive on why the multifamily market has done so well

[26:31] How have you seen underwriting change over the last few years

[31:40] From your conversations and polls, what is keeping investors awake at night?

[33:15] How can folks reach you?

[33:39] Closing comments by Eric & Steven

 

About our Guests

 Avery Jordan is a senior director for Franklin Street. He’s a broker specializing in multi-family properties in central Florida and across Tampa Bay.

Avery was born and raised in Tampa, and he enjoys extensive relationships with apartment owners locally and throughout Florida. He has boots on the ground, and perfectly positioned to give us a feel of whats going on in the apartment market.

Avery went to the University of Florida where he received a Bachelor’s in Business Administration.

GUEST CONTACT INFO

Email: avery.jordan@franklinst.com

Phone (direct line): 813-577-3826

The post Ep. 249 Avery Jordan: Update on the Multifamily Market appeared first on Real Estate Investing in Florida.

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South Florida Market

In this episode, our guest Daniel Jaramillo gives us his take on the South Florida market. The low caps are making finding deals more difficult, but they are out there. And although prices remain about the same, it is taking longer to make deals. Also, the South Florida market is changing, and suddenly it is making sense to do construction again.

Daniel has an interesting perspective since he deals not only with domestic investors, but also with both foreign investors, particularly from South America.  Some of his advice for foreign investors (and domestic investors) is to do your due diligence before spending money on investments, especially if you aren’t familiar with the area. And, don’t make the mistake of thinking you don’t need property management just because you are buying condos and think that is less of a risk. Also, when you’re first starting out, sometimes the best way to get a deal done is to partner with someone.

About Our Guest

Daniel Jaramillo is the CEO of Strategic Properties based in Miami, Florida. This is a real estate investment and property management company, specializing in multifamily and property management.

The post Ep. 192 Daniel Jaramillo: South Florida Market appeared first on Real Estate Investing in Florida.

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Coworking Space in the Office Market

The coworking space has grown significantly, and it’s going to continue to be the fastest growing sector in the Office Market. Coworking has become a transition space between coffee shops and full-time commitment on office space.

WeWork is a disruptor in the coworking space, but recently is having financial issues which could cause some ripples in this arena, but would probably not be catastrophic and will most likely be absorbed.

The whole economy in America is changing as we become more of a service economy, but office space will always exist.

Join us for this week’s podcast as Eric Odum and Steven Silverman share their thoughts on the Office Market, specifically the coworking space.

Key Discussion Points

About Our Hosts

Eric Odum and Steven Silverman are the hosts of the Invest Florida Show podcast — actionable real estate investment talk with a focus on Florida.

Florida Investment Real Estate provides turnkey real estate investment solutions for our clients. With a diverse background in Florida’s commercial real estate markets, Florida Invest Real Estate offers investment services for individual and institutional investors seeking retail, multifamily, and medical office properties of $500k to $10m.

The post Ep. 190 Coworking Space in the Office Market appeared first on Real Estate Investing in Florida.

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Global negative bond yields – the current state of the bizarre global economy

Neal Bawa discusses his analysis of the current global economy including Bloomberg’s recent report that $17 trillion worth of world-wide bonds have now gone negative — which means the bonds’ yield has fallen below zero. Having $17 trillion dollars of negative yielding debt has never happened in the history of the world before. So how will this affect the real estate market? Is a recession imminent? 

You won’t want to miss the insightful analysis Neal provides, and his advice for real estate investors.

“Today…the [economic] stuff that is happening on a world-wide basis is so ridiculously bizarre, that I can’t imagine anything like this happening.” – Neal Bawa

Discussion topics and questions with our guest, Neal Bawa

[05:15] Introduction of our guest, Neal Bawa
[07:32] Neal’s high-level analysis of what’s going on in the global economy
[10:23] Why would someone buy a negative yield bond?
[13:39[ How will the global negative bond yield affect us?
[17:10] What is Neal seeing as far as foreign investors that are coming into the U.S. market?
[19:48] Do you feel like we’re in a bubble?
[22:07] What’s the possibility of a recession, and how would it happen?
[25:22] How do we combat a recession like we’ve done in the past?
[31:12] Does the Fed have to continue to lower interest rates?
[35:52] How are you advising investors about this pending crisis?
[37:00] How does China fit into this equation with the trade war and the devaluing of their currency – and that they are the largest holder of U.S. debt?
[46:35] How can listeners contact Neal?
[48:44] Closing remarks by Eric and Steven

About Our Guest

Neal is affectionately known as the “mad scientist” of multi-family, and he is a technologist and entrepreneur. He is also the CEO and founder of GrowCapitus.com, a commerical real estate investment service. 

Neal acquires commercial properties all over the U.S. His currently portfolio is over 2,000 units and over $180M dollars worth with projections over the next 12 months of over 3,000 units. He is also active in student housing, and he is in 9 different states.

Neal also serves as CEO of MultiFamily University, an apartment investing education company.

Neal is a top rated speaker for conferences and events throughout the country. Nearly 5,000 students attend his multifamily seminar series each year. Neal’s management techniques and revenue optimization techniques for multi-family are considered unique in the industry. 

Investor Resources

You can contact Neal Bawa through his website at multifamilyu.com

The post Ep. 185 Neal Bawa: Global Negative Bond Yields & How This May Affect U.S. Real Estate appeared first on Real Estate Investing in Florida.

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The Orlando Real Estate Market

In this week’s episode, we talk with Greg Bond about his take on the Orlando market as well as what he’s got going on with his property management business. Greg is still finding great deals by using basic common sense and some good marketing strategies.

Some of his strategies include: 

• Diversifying his portfolio
• Leveraging IRAs
• Going to outlying areas to get better margins
• Renting to retirees

Discussion topics with our guest, Greg Bond

[05:00] Overview of how Greg got started in real estate
[09:37] Is Greg still rehabbing and selling or is he building a portfolio?
[10:29] What is Greg’s rule of thumb for finding good deals?
[11:47] What is the price level of the houses Greg is going after?
[12:21] Does Greg also purchase condos? Or just single family homes?
[13:20] What does Greg see going on in the Orlando market right now?
[13:47] How is Greg finding his properties?
[15:33] Greg’s positive take on self-directed IRAs as a good vehicle for investors
[19:28] What other assets has Greg diversified into (besides single family home)?
[24:36] What are some of the bogies and data points Greg looks for in Assisted Living Facilities (ALFs)?
[26:13] Does Greg manage his self-storage properties, or does he use existing managers?
[29:40] Eric and Steve’s summary and closing remarks

About Our Guest

Greg is a successful business owner who owns The Property Manager Guys, LLC and is one of the founders of Greater Orlando Home Buyers, LLC.  He is also an experienced investor who has been active in single family homes, self-storage, and assisted living – and he has real estate holdings in several states and countries.

Investor Resources

The post Ep. 184 Greg Bond: The Orlando Real Estate Market appeared first on Real Estate Investing in Florida.

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The Affordable Housing Dilemma

More than any other property class, affordable housing is considered the white whale (or perhaps black sheep) for real estate investors. Despite the dire need for affordable housing in the marketplace, a strategy for developing affordable multifamily that meets suitable returns continues to elude investors.

While the trend towards luxury, A-class continues, many industry insiders say we are nearing the ceiling for sustainable luxury multifamily. Meanwhile, there remains no shortage in the demand for affordable workforce housing.

‘Taking Blight and Making Light’

When it comes to affordable housing, the biggest deterrent for multifamily developers is the perceived lack of sufficient returns to make it a worthwhile investor. The majority of the affordable housing market is comprised over older, B and C property classes in often overlooked areas leading many multifamily developers to believe that the returns aren’t there.

However there are some key points about the affordable multifamily market that developers overlook:

• Workforce housing consumers are often long-term tenants, ensuring steady returns
• Older, low-cost properties are ripe with value-add potential

The need for affordable housing isn’t going away. If you are willing to put in the effort, deals are out there. With the right tools and resources, you can carve out your own niche in the affordable multifamily market

About our Guest

Eddie Lorin is the Founder of Strategic Realty Holdings. Through his philosophy of impact investing, Eddie has purchased and transformed over $3 billion multifamily real estate establishing 180 communities and providing 40 thousand units to the affordable multifamily market.

Coming from a diverse real estate background, Eddie has made it his life’s mission to address affordable housing concerns.

This episode, Eddie shares his investment philosophy and how it led him to the affordable multifamily market. He shares how he was able to carve out a niche to meet a badly needed demand and offer tips for investors interested in affordable housing investing.

You do not want to miss this episode on carving out your niche in the affordable multifamily market!

The post Ep. 170 Eddie Lorin: Carving Out Your Niche in the Affordable Multifamily Market appeared first on Real Estate Investing in Florida.

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Northeast Florida is one of the state’s strongest real estate markets. With robust investment opportunity across various asset classes and consistent post-recession growth, the northeast region remains popular among investors. The Jacksonville single family market in particular has seen phenomenal growth and promise over the past several years.

Although the single family market has slowed somewhat throughout the state, strong economic drivers and steady population growth continue to foster investment demand. It may require some creativity and a little extra elbow grease in finding deals, Jacksonville remains fertile ground for single family investors.

A Look at the Jacksonville Single Family Real Estate Market

Single Family Market Outlook

• Strong post-recession upswing
• Institutional investors changed investment landscape
• Low single family inventory, tight market
  • Flippers and wholesalers getting more selective

Strong Single Family Markets

• North Jacksonville / Jacksonville Beach
  • Strong rental markets
  • Buoyed by commercial development
• Orange Park / Argylle
  • Strong flipping market
  • Good rehab opportunity

About Our Guest

We are excited to have Cameron Gaskill as our featured guest this episode. Cameron is a jack-of-all-trades and an expert on the Jacksonville single family market. A Jacksonville native, Cameron is the President of Suncoast Renovations & Design, Inc.

After purchasing his first home in 2006, Cameron cut his teeth in the single family market, as a licensed contractor and architect, Cameron applied his background in construction to fine-tune his rehab strategy. From fix-and-flips, Cameron ventured into wholesaling and built a name for himself as one of the premier rehab investors in northeast Florida. In addition to actively maintaining his own investment portfolio, Cameron also mentors other single family investors.

Contact Cameron

(904) 900-1162 or camerongaskill.com

You won’t want to miss this Jacksonville single family market outlook!

The post Ep. 165 Cameron Gaskill: A Look at the Jacksonville Single Family Market appeared first on Real Estate Investing in Florida.

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Florida’s I-4 corridor has long been a hot-spot for investors. As a main commercial artery connecting the state’s east and west coasts, the area has served as fertile ground for investors of several asset classes. Now, thanks to explosive job and population growth in several metro areas, the I-4 corridor’s multifamily market has been booming.

I-4 Corridor Multifamily Market Outlook

• The I-4 corridor’s major metro areas are experiencing intense growth
  • Tampa & Orlando
    • Lakeland, Lake Mary/Sanford (Sub-markets)
  • $1.24-$1.26/sf across all asset classes (30% increase in pre-recession rates)
• Rental demand outpacing construction and inventory
  • Vacancies compressing
  • Markets primed for B + C-class rental drivers
• Institutional investor activity increasing

5-Year Forecast

• Expect to stop start seeing decrease in new home starts
• Rental demand not likely to drop-off
• Metro area growth metrics should slow, but due to sustained market demand will maintain an equilibrium state

About Our Guest

This episode, we are honored to have Brian Alford join us to discuss this multifamily market outlook for the I-4 corridor. As a Market Economist for CoStar, Brian specializes in providing on-the-ground analysis for the Central Florida region, including the I-4 corridor’s major metro areas and sub-markets.

Brian brings with him nearly 15 years of experience as a financial analyst having worked with commercial real estate through a variety of asset classes.

If you are interested in getting a more detailed outlook on the I-4 corridor’s multifamily market, or you have additional questions regarding the Central Florida region, fell free to reach out to Brian directly. Additionally, you can find much of Brian’s published content online or by visiting costar.com.

The post Ep. 164 Brian Alford: Your Multifamily Market Outlook for the I-4 Corridor appeared first on Real Estate Investing in Florida.

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You’ve probably been hearing talk of the impending “retail apocalypse”. As long-standing retail chains fall by the wayside, retail center and strip mall landlords and investors are starting to get nervous. To listen to some people, you’d think that retail has all but bottomed out.

But you know not to buy into the hype.

A Changing Retail Investment Landscape

Yes, the retail investment landscape is changing, but that doesn’t mean it’s finished. In fact the retail investment landscape is undergoing a phase of rebirth – and restaurants are leading the way.

There is always going to be a demand for brick-and-mortar retail space. The trick is understanding how to meet that demand. Consumer priorities are changing and food, nightlife and entertainment are playing an increasingly important role in those changing tastes.

Where once there may have been only one restaurant concept per retail plaza or strip center, now you may find several operating successfully. And for the most part, this is happening right under investors’ noses. Retail investors and landlords who can recognize this changing landscape now can position themselves above competition.

About Our Guest

John Brewer is a Partner in Azor Brewer Restaurant Advisors. As the ‘South Florida Resturant Guy’, John has over 20 years’ experience in restaurant operations and management. Partnering with retail center expert, Beth Azor (Ep. 142), John lends his expertise in finding the perfect fit for restaurateurs and landlords.

If you would like to find out more about Azor Brewer Restaurant Advisors, visit their website. You can also contact John directly at 561-573-7333.

The post Ep. 160 John Brewer: The Retail Investment Landscaping is Changing and Restuarants are Leading the Charge appeared first on Real Estate Investing in Florida.