Tag Archives: Tampa

Ep. 164 Brian Alford: Your Multifamily Market Outlook for the I-4 Corridor

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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

multifamily marketThis 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.

 

 

Ep. 135 Alex Rios: These Hot Design Trends Can Increase the Value of Your Multifamily Property!

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Whether you invest in multifamily or other commercial properties, if you’re investing for cashflow, you’re going to want your property to attract tenants. The design and function of a property goes a long way in enticing potential tenants. Updating your property with latest design trends and practical features can also increase the value of your investment.

 

multifamily design trendsThis episode, we talk with Alex Rios. As President of Rios Architecture, Alex has worked on many projects in many asset classes, including office, commercial, medical and multifamily. Lately, he has been actively involved with several multifamily projects around Tampa Bay, including several McKinley developments.

Alex knows that, for cash-flowing investment properties to attract tenants, they need to feature things that people will want. If you want to increase your property value and attract desirable tenants, staying up-to-date with current design trends is important.

Here are some of the hot design trends that can increase the value of your investment property!

  • Apartment investors looking for ways to make their property stand out to tenants
  • Tight multifamily market has led investors to look at value-add opportunities

Hot Design Trends

  • ‘Sophisticated’ look
    • Invest in palette, not singular items
  • Colors catering to relaxing environments
    • Light blues
    • Light greens
    • Accent colors
  • Floor materials
    • Luxury Vinyl Tile (LVT) mimics look and quality of wood, durable
  • Amenities need to cater to what your desired tenants want
    • Urban lifestyle trends very strong market
    • Digital/online age demands accessible internet
    • Pet accommodations
    • Encourage social interaction
    • Home office flexibility
    • Accessibility and walkability are important features

Investing for the Future

  • Plan for changes with new technology
    • Electric cars
    • Automated transit
  • Manage your construction costs
    • Account for high labor demand
    • Costs for new development materials

Contact Alex

By email: alex_rios@riosarchitecture.com

Website: riosarchitecture.com

Ep. 134 Jason Ellison and Josh Diggs: Solving Tenant Issues – Commercial Evictions to Residential Fair Housing

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The relationship between a landlord and a tenant is unique, to say the least. Whether you invest in residential or commercial real estate, you must maintain a balanced relationship with your tenants.

If you do own tenant-occupied properties, you know that maintaining a balanced relationship is easier said than done at times. When dealing with tenants, there are defined rules and regulations for what you can and cannot do as a landlord; However when it comes to peoples’ homes or businesses, disagreements over a lease can quickly become a tricky situation.  Solving tenant issues can be one of the most important things a landlord can do to retain tenants and stay out of legal hot water.

This live discussion and recording is about solving these common tenant issues. We discussed the landlord/tenant relationship, as well as covering common pitfalls relating to things like evictions and fair housing. One our guests deals in commercial real estate litigation. The other is an owner of multi-family properties.

They are as follows:

commercial lease disputesJason Ellison is an attorney and founding partner of Ellison | Lazenby Law Firm. Jason is a real estate attorney and specializes in contract preparation and dispute resolution. He is highly experienced in landlord/tenant disputes, including evictions.

 

 

dealing with tenantsJosh Diggs is a veteran investor and co-founder/owner of Palm Companies. He is well versed in tenant/landlord relationships and will provide on-the-ground insight into property management issues.Through their property management arm, Palm Communities, Josh has on-the-ground experience managing multifamily properties and dealing with tenants.

 

Check out “Ep. 134: Dealing with Tenants – From Evictions to Fair Housing”!

Join our Tampa Cashflow Meetup!

In an effort to bring you even more talk on Florida’s real estate industry Invest Florida Show has started a monthly event series. Every month we host a different speaker at our downtown Tampa meeting rooms to discuss a different feature of the state’s dynamic real estate market.

You can meet the Invest Florida hosts, get exclusive expert insight and even network with other real estate investors. To find out event information or to join our Meetup, click here.

 

 

Ep. 129 Fund Your Real Estate Deal: From FNMA to Hard Money!

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fund your real estate dealFund Your Real Estate Deal

Did you know there is more than one way to fund your real estate deal? There are a lot of options available to investors, from mortgages, to bridge lending and hard money.

For our second live podcast event, we’re looking at two major avenues for real estate funding: institutional lending and hard money from private lenders. Our panel of experts answer questions from the audience and offer up tips and insight for finding and securing real estate funding.

Meet the Panel!

  • Frank Coto, III
    • Frank is the Founder and President of Lincoln Lending Group. Based in Tampa, Lincoln Lending offers flexible mortgage solutions for real estate investors and home-buyers.
  • Dan Feinman
    • Dan is a hard money lender and a real estate attorney as well as a hands-on investor, with a rental portfolio that he manages. He works with Starwood Capital Group as a capital partner. Through their partnership, he has transacted over $2.5 billion in non-performing notes and mortgages, and he is presently working with Starwood to raise a national hard money lending platform.
  • Bob Tosi
    • Bob is Vice President of EquityPro. Heading up EquityPro’s Tampa team, Bob assists in the brokerage of real estate for his clients: real estate investors.
  • Ben Yonge
    • Ben is the Founder and President of EquityPro. He heads EquityPro’s Orlando branch. He believes that the best real estate deals should benefit all parties.

Join us for our next live event Aug. 3rd!

Our next live podcast event will be focusing on commercial and residential evictions and will be hosted at our downtown Tampa office and conference space. For more information and event details, check out our Meetup page, Tampa Cashflow Meetup.

 

Ep. 126 Mark Holmes: What Multifamily Investors Need to Know About the Rental Boom

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multifamily investorsThe national housing market is undergoing a major shift and multifamily investors are taking notice. Through economic and generational factors, the housing market is seeing a lessening demand for single family home purchases. Instead of buying a home, young professionals are opting to rent.

Mark Holmes may know this growing trend better than anyone. As a certified property appraiser with Value Tech Realty, Mark travels the United States appraising multifamily properties. As an appraiser, he understands this rental boom from a valuation perspective. As an active single family investor and passive multifamily investor, he understands what it means from an investor’s standpoint.

This episode, Mark gives us a recap of the the national multifamily market as well as the Florida multifamily market. We discuss the recent rental boom and what it means for multifamily investors.

National Multifamily Overview

  • 63% home ownership, down from 69% (2004)
  • 37% renters: 15 million shift
  • Financial recession brought on behavioral shift
  • Job growth jump-started multifamily development

Florida Multifamily Overview

  • Landlord friendly
  • 3% job growth
  • Statewide rent growth: 4%
  • I-4 Corridor rent growth: 6%

Florida Multifamily Markets

  • Tampa
    • 4000 MF units online, last 12 mo.
    • 65% absorption rate
    • 3.7% rent growth
    • Class A: 4.5% cap rates; Class B: 6%
  • Orlando
    • 5,500 MF units online, last 12 mo.
    • 57% absorption
    • 4.8% rent growth
  • Melbourne
    • 8% rent growth in last 12 mo.
  • Miami/SFL
    • 3,500 units online last 12 mo., 3,300 coming
    • Nearly 100% absorption
    • 3.3% rent growth
    • 4.45% cap rates
    • 49% of income goes to rent

What It Means for Multifamily Investors

  • Capital looking to invest in multifamily is out there
  • Class A property growth concessions trickling down to B + Cs
  • Most buyer interest is in multifamily
  • Interest rate increases mean cap rate increases
  • Major market cap rates seeing downward trend

Contact Mark

Looking for property appraisals? Contact Value Tech Realty through their website. For single family and multifamily investors looking to work with Mark on a deal, contact him through email at mark1holmes1@gmail.com.

DIY Real Estate Marketing: The Power of Podcasting

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real estate marketing

invest florida show podcast

 

 

 

 

 

 

 

 

 

 

 

 

 

 

We started the Invest Florida Show podcast with the goal in mind to create a living archive of actionable, Florida-centric real estate investing information. Not only have we been able to realize our vision, but Invest Florida has grown to become an effective real estate marketing vehicle – not only for our own lead-generation, but for our guests’ businesses as well.

Podcasting has been growing in popularity over recent years and more and more professionals are realizing the potential of a podcast to extend their reach and network.

When Florida Realtor Magazine asked us to contribute to their cover story on the power of podcasts in building a professional brand, we were honored to take part.

Check out the article!

 

Ep. 125 Gregory Radford – 5 Tips for Earning Hassle-Free Cashflow Out of Your Single Family Rental

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single family rental investingSingle family investors know that keeping up with rental properties and tenants can be a hassle. In addition to dealing with property management, investors must also manage tenants. While a single family rental is a great way for many to earn cashflow, it can be tough to stay organized.

Our guest this week, Gregory Radford knows a thing or two about organization. A decorated military veteran, Greg became a de facto single family rental investor while still serving in the Army. After renting out his home he had purchased using his V.A. loan, he had his Eureka moment. He saw the investment potential of the V.A. loan and leveraged that into becoming a successful single family investor.

Combining the organizational skills and discipline he learned in the Army with his loquacious attitude, Greg created a strategy for earning hassle-free cashflow through single family rental investments. Starting Radford Homes with his wife, Greg is an active single family rental investor in Polk County.

V.A. Loans

  • Federal loan program for military vets to put money down on a home
  • V.A. loans can be reused as many times as the loan limit allows
    • Homes must be inhabited for 12 months
    • Loan limits vary by state/county
    • Polk County: $424k

5 Tips for Hassle-Free Cashflow

  • Niche Marketing
    • Strategic, intentional marketing
  • Custom Rental Applications
    • Send pre-scripted correspondence to potential tenants with explicit application instructions.
    • Tenants who fail to follow instructions are disregarded
  • Tenant Screening
    • Active listening
    • Asking ope-ended questions during tenant interviews
    • Find out about prior residences
    • Check social media
  • Open House for Rentals
    • Controlled open houses
    • Open houses 2x/mo. cuts down on scheduling showings and creates urgency among potential tenants
  • Cash-Free Payments
    • Requiring proof of bank account assures tenant’s financial credibility
    • All payments sent through electronic funds transfer or cashier’s check

Investor Resources

  • Gary Keller – “Hold”
    • single family rental investing
  • Gary Raulston – “Real Estate Principals: A Value Approach”
  • Bureau of Labor Statistics – monthly reports

Contact Greg

  • On social media @Radford Homes
  • By phone: (863)410-0877
  • Greg is currently looking to expand into multifamily investing in Polk County

Ep. 123 Chris Nebenzahl & Doug Ressler: Tracking Investment Market Data Made Easy!

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Tracking Investment Market Data

tracking investment market dataFinding a real estate market that fits your investment goals seems to be getting tougher and tougher. With markets tightening up across the state, investors are starting to feel it. Now, more than ever, investors need to be tracking investment market data – looking for trends and analyzing data to find viable markets.

Investors may be familiar with Yardi for property management services, but did you investment market dataknow they also offer comprehensive market research and data software? This system allows real estate investors to track investment market data on a national level, or zero-in on specific markets and sub-markets.

This episode, we welcome from Yardi Matrix: Senior analyst and editorial contributor, Chris Nebenzahl, and research and data analyst, Doug Ressler. They discuss what investors need to know about tracking investment market data. They also offer up an update on Florida’s commercial and multifamily markets.

Florida Multifamily Overview

  • Rent growth and development strong overall
  • Focus on A + Super A properties
    • Urban living
    • Amenity-rich
    • Attracts millennials
  • Increasing demand for B + C properties, but limited supply
    • B + C properties seeing value-add opportunity
    • Sub-market level

Florida Multifamily Market Highlights

  • Miami and Orlando: 9000 expected multifamily developments for completion, 2017
  • Tampa: 7200 expected multifamily developments for completion, 2017
  • Development expected to crest after 2017
  • Rapid rent growth may pose affordability issues in Miami/SFL

Florida Commercial (Industrial/Self-Storage) Market Overview

  • Strong self-storage appetite
    • New focus on urban core
    • Close proximity to multifamily developments
  • Small cap rate compression
  • Renewed interest in mixed-use developments
  • Hotel occupancy slowing, but Orlando and Miami still strong

Tracking Investment Market Data with Yardi Matrix

Investor Resources and Contact

  • For more information on Yardi Matrix services and subscriptions, visit their website or contact Doug directly by phone at (480) 663-1149 ext. 2419 or email at doug.ressler@yardi.com

 

 

 

Ep. 120 Pete Kuc: Investing for Cashflow and Jacksonville Market Recap

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investing for cashflowThere are many strategies investors can apply in real estate investing. Some offer big risks and bigger returns, some offer a stable, long term earnings. While it may not be the flashiest investment strategy, investing for cashflow can provide long term stability and act as a cushion in the event of any unforeseen market downturns.

Pete Kuc, Co-Founder of May Real Estate Group, got a crash course in the big risks of speculative investing and learned the power of passive income and investing for cashflow the hard way.

Following the 2008 market crash, Pete was forced to reassess his approach to real estate, but what he has since learned about investing for cashflow has paid off. He has grown this strategy into a thriving turn-key investment company serving northeast Florida.

This episode, Pete talks about cashflow investing and gives us a recap of the Jacksonville and northeast Florida markets.

Investing for Cashflow

  • Buy-and-hold strategy
  • Fix-up, rent property, build equity
  • Not based on speculative appreciation

NE Florida Markets

  • Jacksonville, St. Augustine, Palm Coast
  • Jacksonville: strong natural growth, prices lower than other Florida markets, good rental returns; Orange Park neighborhood

Finding Deals

  • Direct homeowner marketing
    • Mailers
  • Finding off-market deals
  • Wholesalers
  • National Community Stabilizing Trust
    • Fed Program offering off-market deals at discount
    • For non-profits, but community investors may be vetted for program
  • Real Estate Investor Associations (REIAs)

Investor Advice

  • Consistence and persistence is key to success
  • Keep letting people know you are a player in the game

Contact

To find out about the turn-key investment services offered by the May Group, visit www.kigjax.com. To find out more about investing for cashflow or to learn more about what is happening in the Jacksonville real estate market, message Pete directly on Facebook.