Multifamily Asking Prices in FL

[Javier G.]

Good morning BP!

I was practicing math on multifamilies on the MLS and I found ALL asking prices in MiamiMiami are ridiculously inflated! Since I suffer from acute analysis paralysis, I was wondering if it's me or this is normal. The example here is a multifamily in Hialeah with 2 small properties with a total of 1,320 SF, asking is $380K. Basically, this person is trying to sell 2 studios for $190 each! I know the area very well and pushing hard, you can rent each for $900. Where is the deal here? I will appreciate any feedback.

Thank you!   

[Jason D.]

@Javier Guandalini you are encountering what everyone else is seeing too. Unless you're in the midwest or a pretty bad neighborhood, you're not going to see favorable numbers on turnkey rentals. You'll either have to find a needle in a haystack, or consider finding properties where you can add considerable value