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Listeners 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.

The post Ep. 96 Jillian Bandes: Making a Complex First Invest in Small Multifamily appeared first on Real Estate Investing in Florida.

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Florida 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!

The post Ep. 83 Eric Nathanson: Winning Strategies for Bidding on Foreclosures in Broward & Palm Beach appeared first on Real Estate Investing in Florida.

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Potential investors looking to get into the Florida real estate market are often held back by the fear that they don’t have the capability, time or resources to make the right investment decisions. There are a million reasons to say, “I can’t do it because…”

Our guest this week is Barney Killinger of Pro Auctions Services. Barney is a foreclosure auction expert, purchasing properties at foreclosure auctions for investors. His company, servicing mainly Central Florida, provides investors with a consolidated portfolio of foreclosure auction markets available for bid in several counties.

Barney is a great guest not only for his enormous well-spring of knowledge and experience in the Central Florida auction market but for his inspirational story. In 2010, Barney was involved in a head-on collision and suffered a severely fractured neck. While bed-ridden and amidst surgeries Barney continued to pursue his dream of achieving success in foreclosure auction markets and managed to organize and execute successful bids on 40 properties in a 45 day period from his hospital bed. Barney is living proof that you absolutely can succeed as an investor with perseverance and dedication.

• Florida foreclosure market still going strong
  • Courts still holding and processing foreclosure cases
  • Large amounts of “reserve stock” properties
  • Most likely to reach its peak mid-2018
• High Risk/High Reward
  • Title issues
  • Structural damage
  • Risks can be minimized with right knowledge and resources
• Returns on foreclosure auction investments
  • 65-75% average for investors
  • 12-15% average per month on remodel/rehab properties
  • 3-6% average per month on wholesale flips
• FL Open Bid system
  • Investors have access to bank/lender’s selling prices prior to sale
• FL 10-day Title Redemption Law
  • 10 days allotted post-sale for owner/borrower to pay liens or for bank/lender to vacate foreclosure sale
  • If sale vacated by bank, make direct offer to bank on vacated property
• Pro Auctions Services
  • Servicing mainly Central Florida auction market: Polk, Orange, Osceola, Seminole and Volusia County
  • Proxy Drivers – view and photograph property for buyer at auction
  • Proxy Bidders – buyers who represent investor at auction
• Tips for Success
  • Always SEE the property before placing bid
  • Run title search
  • Who you work with and how you educate yourself is very important in real estate investments

For more information on Barney’s company and the services they offer, visit his site here

Contact the Pro Auctions team by email at auctions@proauctionsservices.com

or by calling the office at 863-687-4101

The post Ep 38 Barney Killinger – Working the Central Florida Auction Market appeared first on Real Estate Investing in Florida.