Forum Replies Created
Yep..and I foresaw the crash coming too…I just couldn't sell my properties because I had an emotional attachment with them. Captains go down with the ship right? So instead of selling due to my "clairvoyance", I sat tight and lost everything.
Am I liberated now?? haha. CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeHi Jay-
I spoke to Alex. We are actually diverting to similar strategy that we believe will have a more maximum return on the dollar and not really caring about the word "cheap". Of course I am going to have my ceiling from an investor perspective, but I'm not buying into the $20k range. My father in law owned a double wide. Actually not bad looking.. Bought it for $9,000 and rents for $600 a month. Problem after problem he decided to sell and got $12,000 as a FSBO. He is retiring now kidding.I'm just thinking aheah. I've got a good track record of doing so. I'll always update my personal properties on my website if anyone wants to see what I am personally doing and what my investors are doing.
FYI, I know nothing about trailer parks except the fact as you mentioned there is no financing for it.
What I do know is where to minimize my risk and maximize my yield. We are just one big happy family of forum members of creative individuals.
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeHedge funds come, hedge funds go. Unfortunately, they are in the driver seat to make money and the smaller investors are left holding the bag. Seen it 5 years ago. I met with a hedge fund just yesterday in Weehawken NJ. They are based out of NYC and have a plan ready to go to buy Florida homes at 6-8%. Upside is key and they asked me to sell them on upside. That was the easy part. At the same time, I got a call from an OZ investment group leader. Said they won't consider anything under 13%. Told him I would value an opportunity to earn his business, but not at that price. It's a waste of time for everyone. I'm not a pro forma guy. I'm a realistic guy.
This group wants to buy $50 million in Florida over the next 24 months. Boom and bust model? For them, no… For others, possibly. Funds are everywhere and it is no secret that US homes are great investments today in certain markets. Ya snooze ya lose.
This is my official warning: If you don't accept 8-9% returns on SFR's, you haven't done enough homework on trends, stats, etc… You will be beat out by competition or lied to about your "return". On paper, I can create anything I want, right? If I were an OZ investor, I'd buy for a modest cash flow, and bank on currency and area upside. Guess who reared its ugly head again? Yup, speculation! This time it could be more controlled with the credit markets. But who knows. If you think it's still too much of a risk to bet on real estate, then fly to Vegas and walk to the sportsbook. Lay $10,000 on the odds of the Baltimore Orioles winning the World Series. High risk, high reward
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeWI:
Thanks for the clarification. Candidly, I am not a fan of property managers either. I'd love to see a sample managment contract that you are referring to from OZ. Yes, in most cases here, management companies have too much authority. My PM is great, but maybe I am bias because he leases space in my office and he knows I am watching That said he runs a good system. Maybe I can show him what you are referring to and I can try and mold him a bit if it is a win-win.CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeBuzzer: My thoughts were that you should have done enough research back home to identify a small area of FL that would peak your interest. You are in Jax right now, then you have questions about the opposite ends of the state. They are 2 entirely different markets with two entirely different economic factors. Only reason I say this is I have met a good handful of AU investors who have overthought themselves out of the game. The confusion just became too much to handle.
But I'm guessing you are more intelligent then that
You should have come to Ft. Myers / Lehigh / Cape Coral so that I could have helped spent your money wisely…Then after the good bottles of imported wines, we could have gone to look at some properties!
I'm looking to get at least 10 people on the call. So far, looks like I have 5. Let's recruit.
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeLawsjs…Thanks for your response. Those on this forum that have come to the US and have met me, I share the same shameless story with them. I came from a middle class family, retired pro baseball player who made pennies in that field, made millions on my own in real estate / stocks, lost all of those millions and then some.. Lost my houses, apartments, toys, personal home, etc.. I got crushed… For the last 2 years, I have regained about 25% of what I lost and I never sell anything that I don't believe in or by myself. I have taken each person who visits to my own properties. Bottom line, is that I'm here, in a brick and mortar building in Ft. Myers and I'm not going anywhere. My experiences have built new pesonal fundamentals and I find that investors like to hear about them so they can mold them along with theirs. I am probably younger then 95% of people on here, but with my experiences in rags/riches/rags/riches, finance, banking, and real estate, I have a lot of info to share from good / bad lessons learned. Ripoffs are everywhere. To me, I can sniff out a ripoff in a few days without even meeting them. With your experience, you probably have that talent also
It is what it is and before you know it, by the time some foreign nationals commit 1% of trust in US agents or wholesalers, they will miss the boat and will only be serviced by hard selling ripoffs who can't afford to move on to the next good opportunity.That said, I'm here to be a part of sharing with AU investors. If you don't like me, don't read / listen to me. I'm fine with that. Long term buying in FL is a huge attraction now for many reasons and I've said it over and over. If you listen to Wall Street, Morgan Stanley said it also. Anyone read my australian investor article? Do you agree or disagree? I wrote that after meeting and speaking with dozens of investors and spending countless hours learning about their structure.
Now, who's down for a big online party?? I can moderate with Alex, Jay, or whoever wants to.. Get a six-pack from the store and we'll do it one evening and become friends
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeHi Buzzer:
Scott here, aka Cheeves. True story, but the first time one of my Australian customers called me a bloke years ago, we almost had some fighting words, until I found out that the term is endearing I've said my piece about Cape Coral so many times, but certainly will point out that although growth has taken place, there is still a good window of opportunity to buy homes under 100k. If you hold for say 5 years, I can almost assure you that you will be in a much better place then today. Why? Well, construction permits are doubling almost every month. Why? Inventory is dwindling. I have said this for 12 months now. CAPE CORAL WILL MEET REPLACEMENT COST VALUES BY THE SECOND QUARTER OF 2015. Buying a house for say $100k has an average replacement cost of $160k. So, in 3 years you gain a modest 20% every year. I might be off a few bucks, but that is my theory and I'm sticking to it. I am an analyst by trade, wholesaler at heart. I'm a numbers freak and if you believe in trends and bell curves, today is favorable. Additionally, Cape is a very safe area to invest in where you will get an annual ROI of about 8%. Show me someone that illustrates double digit ROI in a good area of Cape and I'll call them a liar. It's a safe, second home market rented and bought by a demographic that minimizes risk.
FYI, 12 months ago, I spoke to an investor from Australia. He thought my prices of $75,000 for a duplex in Lehigh Acres was too high. I sold it to another investor a day later. Todays duplex prices are about $90k. Funny thing is this SAME Aussie investor called me 2 months ago thinking of buying. I said the price is $80k for a duplex and he balked again. Probably figured prices would come down eventually. So I sold that duplex 2 weeks later for 88k. Point is, prices are going to continue to rise until sales volume or inventory changes from the direction it is going in. Local income levels favor price increases from the median / average…and the favorability is high. Prices on housing can afford to go up some more and as income levels improve more, so will prices. We are not caught up in the "fake market" we had during the boom. Real jobs are being created…Infrastructure is going crazy here and the Baltimore Orioles are in talks with the city to takeover the former Red Sox Stadium…That would bring 3 baseball teams here. Don't undermine baseball. It brings in a massive amount of revenue for 4 months out of the year which brings loads and loads of tourism.
Unfortunately, I don't know a thing about Jacksonville except the Hooters Restaurant I went to ran out of Coors Light in the keg and I was greatly disappointed. For that reason, never again will I visit Jax
Hope this helps…
Your bloke:
Scott / Cheeves
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeKyler: LOL @ I love my ghetto properties. One of my biggest investors is out of New York City and they buy every building in East Orange NJ that yields them a 10% + Cap Rate. Personally, if I invested in E. Orange, I'd want closer to 20% but it just doesn't exist in areas in close proximity to NYC.
For 10%, I would rather go to Medellin, Colombia and wear a billboard sign on my chest saying "I HATE PABLO ESCOBAR AND HIS ENTIRE FAMILY" rather then investing in a warzone that gets me 10%. Get me 20% like you get and I'm in. Problem is, I don't have a plan for it like you do. Sounds like you have a really good system in place and have a niche that works. That's what its all about. Different strokes for different folks. I tell every one of my international buyers who come to me with information overload from reading, meetings, and classes that they need to find a niche they like. There is something to do in every niche. You just have to have a plan.
FYI, I've been to Medellin several times. Absolutely love it (love the housing market too
But if you walked around with a sign about Pablo, you would be torchered, beaten, stoned, waterboarded, violated, and maybe 3 years later killed!CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone Me
Am I liberated now?? haha. 
