New member out of Miami, Florida. Been looking around the forum and there is some great information and knowledge here. I am looking to getting into flipping and rental property investments sometime in the near future. Any locals on the forums ?
Real Estate Agent · Orlando, FL · Member since 2017 · 38 posts · 11 votes
9y
Hi Jason
My name is Jackie and I am sort of new to the forum. I have been listening to bigger pockets for about 8 to 9 months now. I am in south Miami area. Glad to find locals on here.
Investor · Coppell, TX · Member since 2008 · 2k+ posts · 646 votes
9y
Hello and welcome to this website! I do not live in Florida and have never even has been there but it's changed immigration of people that have lived in this country and foreigners could change your environment. I have that same worry because I was born and raised in Dallas Texas and currently live just outside of thee before mentioned city in a suburban city just outside of the City of Dallas. Just like I beleive that Texas is a good place, I beleive that Florida is a good place to be. I beleive that rental units is a good product to offer on and sell as a long term investing thing. Positive cash and market rental rates are critical as well as the location as well as its amenities are important.
Besides that, do all your preliminary research and find out if the seller is basing his/her price on might be the retail based on the future potentiaal. You need to put your offer based on actual expenses and income on the actual things as of today based on the last 24 months. Check on the area's competition to see what they get on rent and the seperated things they have compared to your subject property. See if you can add any value to your prospective property. Can you possibly increase rents or add any square footage for living space, laundry rooms, or storage, or revise any contracts for things that are negotiable that you could possibly lower? How do the common spaces compare?
Are there things that were shown to you on paper that was obviously different? Even if you find things different do not call that property manager a liar. Treat them with respect because you might be introduced by them to another property owner that wants to sell, an investor, or another buyer that can share with you some unusual information. Are there any laws that might conflict with your plans. Is there anything in the future that would effect that property? Talk to the Chamber of Commerce people to see what they know about the future. Is there anything that has been approved that has not been constructed yet?
Wholesaler · Palmetto, FL · Member since 2016 · 54 posts · 6 votes
9y
Welcome @Jason Couto. I am on the west coast by Sarasota and about 45 min from Tampa. I'm doing wholesaling and I'm currently marketing as a virtual wholesaler; here in Florida and in the DFW area is where I'm marketing. Let me know if you have any questions.
Hello @Michael Lee I hope we can connect and maybe do some business in the near future. Thanks.
Thanks for the info tips. Will def keep them in mind as I begin this journey. I do believe south Florida is a good area for the real estate industry. Hopefully it does me well.
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Virtual Assistant · Hollywood, FL · Member since 2016 · 60 posts · 11 votes
9y
Hey Jason just North of you. I would do a word search for new in Broward or Dade and you can see the other posts and answers for local people. Best of luck.
Ocala, FL · Member since 2017 · 15 posts · 2 votes
9y
As new forum member myself, welcome to the party! There's so much to learn here, and a lot of good advice on how to access the info too. Be sure that when you read a good post or blog(which is pretty much all of them), try and comment on it, ask questions, put your 0.02 in, that shows the rest of the forum that you are attentive, participating, and willing to learn and process the experiences and knowledge being offered to you.
I am in Ocala, Fl, a bit north of Orlando. While we have some distance between us, possibilities can arise when least expected. You will find yourself sooo drawn to jump in and start deals, but just make sure to cover your due diligence, map your strategy out, and cover your bases. On the same note, avoid decision paralysis, get your feet wet on something you can easily handle - mentally, physically, and fiscally, and things should go your way.
Ben Owens thanks for your 2 cents man. That is exactly what I am trying to do. Gain as much knowledge as possible before diving in. I have been reading books and learning for some time now. I am looking to dive in maybe sometime mid year. Def looking for something small to start with so I can get the hands on experience as I go.
Real Estate Agent · Orlando, FL · Member since 2017 · 38 posts · 11 votes
9y
Hi Jason
My name is Jackie and I am sort of new to the forum. I have been listening to bigger pockets for about 8 to 9 months now. I am in south Miami area. Glad to find locals on here.