You're not serious, right? I mean, it's not as if it wasn't clearly expressed that the bank wants to sell the entire project off from my very first mention of the whole deal. Let's not beat what is now a dead horse. I don't know of 5 comparable houses to the one in the article off hand, because I was never looking for 20-30 year old, driveway-less, one car garage, old dumpy properties in older, run down areas, when I can find much nicer, new properties in new areas for the prices I'm talking about. But good luck with your search, and to you and yours.
Fair enough. Res Ipsa Loquitor. If you need the name of a truly honest, experienced (60 yo) broker, who's seen it all, and is in Florida, shoot me a PM. I know a guy that is more in tune with what you seem to be looking for.
I'm usually a fan of yours BLSH, but this reeks of bullshit. You sound like a Nigerian shyster; it reads similar to something that would show up in my spam folder.
If you've followed any of my threads in 3 years, you should know that this area is my domain. If you don't, or don't believe it, it really doesn't matter. I'm in that great position of knowing where deals are happening, and not needing any investors - this doesn't mean I won't share risk with the same people I have since 1998, as I can trust them to do what they say and because they're all competent and great businesses partners. I have no interest in doing any deals with any expanded group. Managing relations with business partners is hard enough - I have no desire to attempt the same with 'investors.' My offer to meet trendy was borne purely out of an 'at the moment burning desire' to prove to him how far off the mark he was, and not because I'm actively soliciting a single investor for anything. I'm not.
In that area of Florida, homes like that go around $25-$50k. Saw it in the numerous realty booklets all over the streets when vacationing there 4th quarter last year. If it qualifies for the grant, which means distressed neighborhood and/or abandoned property, then the neighborhood is your standard Florida shithole town. $100k or more should be equivalent to a small mansion, not that wannabe luxury trailer.
He is not lying. Those values are on point. A wealthy NYC individual I know just last month went down to Miami and acquired 120 units for 5 million. The bank originally wanted $10 million. The real joke is that the property while being constructed at the height of the RE bubble was projected to be worth $50 million. I did not believe it either at first and had to ask what the catch was. But there is no catch. He should see a 5-6 year payback of his investment as the rents will be low so that he can maintain high occupancy. The risk will be weather & the high chance that the cheap construction will falter. Florida is overbuilt, the demand is not there for all those houses & condos. The maintenance costs are way too high and the job market is crap. Florida has this image which rides on the prime coastline towns & South Beach, but the reality is that most of Florida is trash neighborhoods.
is there something holy about the minimum wage level.? this woman is earning above the minimum + government employee benefits. what about people in the private sector who make less and without government job benefits. these are people who can't get a job in the private sector. the same is true all over the world. of course. it is america's future. obama, ignorant republicans and americans who have no idea how wealth is created will make it a nanny state.
Simple arithmetic - it's different by the 90k the bedroom dweller isn't fleecing the taxpayer for. There's a difference between being lazy, and being lazy whilst using men with guns to steal 90k from hard-working people.