861: The Key to Scoring Discounted Deals in One of America’s Hottest Markets

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 22 December 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Remy was looking for rental properties in one of America’s hottest housing markets. He knew picking up one rental property, let alone a multifamily, wouldn’t be cheap. But, somehow, even as a newcomer to the area, Remy was able to buy a rental property at a deep discount. He got three rental units for the price of two in a market with loads of investors and immense competition. How did he do it? We’re about to share the secret. In this episode of the BiggerPockets Real Estate podcast, we’re talking to out-of-state investor Remy, as well as Kim Meredith-Hampton, long-time real estate investor and Remy’s agent! Kim operates both in Tampa and Orlando, Florida, serving investor clients looking to buy in a state that has seen immense population growth. Seeking to take advantage of strong demographic trends, Remy picked Kim as his go-to Florida agent, and the rest is history. Remy and Kim will talk through the three-for-the-price-of-two deal they picked up in the very competitive Florida market and how they were able to get the deal done EVEN when financing fell through, LLC problems came up, and a hurricane froze the Florida state government. You’ll also hear about the final numbers of the deal and why Remy ISN’T counting on big cash flow BUT will make his riches another way from the rentals. In This Episode We Cover: Why so many Americans are flocking to the Florida housing market (and how to take advantage) Building your “buy box” and how to know what a great deal looks like Low cash flow and why banking on passive income ISN’T always a wise move Why you should ALWAYS look for rental properties that come BACK on the market Financing troubles and how Remy dealt with numerous housing hiccups Why waiting to invest will cost you and how to get started today! And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Be a Guest on the BiggerPockets Podcast Ask David Your Question David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube Explosive Growth Could Be in Store for These Two Real Estate Markets w/Kim Meredith-Hampton Florida Overtakes New York as Second-Biggest US Housing Market Book Mentioned in the Show: Pillars of Wealth by David Greene Connect with Kim: Kim's BiggerPockets Profile Kim's Website Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-861 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pockets Podcast Show 861.
0:04.0	What's going on everyone? I'm David Green, you are host of the BiggerPockets Real Estate Podcast,
0:08.0	and today I'm Roland Solo.
0:09.5	Rob and I decided to divide and conquer and bring you not one but two episodes for
0:13.9	double the flavor and double the fun where we speak to a real estate agent and
0:17.3	an investor that they are actively working with so we can better understand what
0:20.6	deals are working today. In this episode you're going to hear from
0:23.3	Remy who is an out-of-state investor who broke into a new market for him, Florida. You're
0:28.1	also going to hear about the deal he completed in that market and we're going
0:31.1	to hear from his real estate agent Kim.
0:33.0	Kim's going to discuss the Florida market and general market
0:35.6	conditions so that you get real-time information
0:37.9	about what deals are working in that part of the country
0:40.1	where I invest myself.
0:41.5	Kim is actually one of the featured agents on the BiggerPockets
0:44.3	Agent Finder as am I. This tool helps investors find real estate agents like me in their
0:49.2	markets so visit BiggerPockets.com slash Agent Finder to learn more.
0:53.4	All right, without any more ado, let's bring in Kim and Remy.
0:56.1	Kim, Remy, welcome to the BiggerPockets podcast.
0:59.2	Kim, let's start with you.
1:00.4	Tell me a little bit about yourself as an agent and what market you focus.
1:03.8	Sure, thanks for having me on the show, David.
	...

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