I was looking to see if anyone has had any luck investing in triplex/duplex in the ft Lauderdale area? I live in Miami and was trying to find a new place to invest. Looking at the numbers in that area looks like it makes sense.
@Chris Berry Hi Chris, you are correct. Cap rates in Broward county have not been compressed as much as they have been in Miami. There are still deals to be had in that market. Feel free to DM me if you need any more guidance. Cheers!
Just acquired a duplex off market. Got it much below market but I had been asking the original owner to sell to me for two years. Small multi family prices in my area (Pompano) are inflated. I don't see how people are justifying the purchase price unless its all cash and/or a 1031. Possibly being purchased using short term rental projections but obviously that is ill-advised being that you want to acquire an asset running numbers as a long term rental to be safe.
Long story short, look off market but every owner including myself is getting hounded by wholesalers so there's competition. Other competitive edge is to buy as an owner occ.