Investor · Miami, FL · Member since 2015 · 379 posts · 330 votes
8y
Hey Tania,
I think it greatly depends on what you are looking for. I’ll admit I am envious sometimes of how easy many members make it seem to pickup deals with a 2% gross rent to purchase price. That’s honestly unheard of down here, usually my goal is to see 1% of the gross rent in purchase price in an area that shows signs of expansion. I’ve met investors down here who take on other strategies such Airbnb, ALF, corporate housing, etc just to find avenues for increased income. I’m sure other members will pitch in and give their experiences. Feel free to reach out if you have any questions!
Real Estate Broker · Florida Keys · Member since 2018 · 29 posts · 6 votes
7y
Hello and good day Bigger Pockets community I hope everyone is have a great start to their day! I wanted to touch base back on this thread as there was a lot of good interaction. I have made some contacts in my time here in FL and several include Bank Asset managers who send me lists of properties before they head to auction, ( to be purchased outside of auction) some are good for flip, some better for buy and hold. I am made aware of the reserve price and if we can get under that. I know inventory can be hard to come by at times especially down here so just wanted to throw that out there see if this would help some folks. I know we all spend a lot of time, money and effort prospecting so if this helps anyone great. : ) The properties are mostly from West Palm to Key West. Seeing they are direct from bank asset mngr it tends to leave more of a margin to get a better Cap rate on your buy and hold.