Hello, I am new in my journey through real estate. I have lived in Miami my whole life. I work as a traveling healthcare professional in the Miami area for the last 7 years. I joined BP as a way to kick my goal of financial independence into high gear. A goal I started when I first started my job in healthcare. I had been wary of getting into real estate due to the vast knowledge gap on the subject. I started listening and imersing myself in the BP Podcast and have made my way through the majority of it, learning so much in the processs. I have also attended every webinar since January when i joined.
My interests are rental property investing, and flipping. I have never worked at length in real estate except for assisting my father, an electrician, in some projects in high school and painting a house or two. In any new journey I have started I'm wary of the possible risks. Although, I am from Miami Fl I dont think I'll start investing here. Instead I will be looking at lower cost areas in places like Tallahasse, Jacksonville, Ft Laudedale, Daytona, or St Petersburg. But I can provide insight into the Miami Fl area to others who may ask. I have in the last two weeks been driving for dollars/bird dogging in order to provide possible leads in my quest to improve my analyzation. I made a goal for this year to get at least one rental investment property and have been saving up for one. I check the requisite redfin, trulia and zillow everyday. I have made a commitment to analyze at least 4-8 Single Family House/Multifamily a day in various locations in the whole of florida.
I know that with the vast knowledge and expertise of the members in BP I can achieve success in my endeavors. And I hope through my invlovement in BP forums I can reciprocate the kindness of BP members.
Redfin & Trulia won't help. Get a local agent to put you on a list of income properties (for S. Fla, and then get one in Daytona & Jax to do the same) and then create a free account on Loopnet and you can search Multi-Family properties there as well (all over the U.S)
Although, just starting out, don't be shy to buy a small single family or condo and rent it out as your 1st property. Plenty of 7caps in South Florida in houses and condos. You don't have to hit a home run on the 1st one. Anything returning you over 5% is a great 1st step!
Best of luck!
@ Marc Middleton Thank you for the input, I will be keeping an eye out for a House in South Florida as a stepping stone. I had one very good prospect earlier in Feburary but was taken by the and now I'm still looking. I will see if I can find a local agent to include me in their list for properties.
@Daniel Castellanos Congratulations on Starting your journey in RE and wealth. I can relate first hand to your experience in the South Florida market. From time to time there are good opportunities. Looking at the bright side this market will hardly give you any prolonged vacancies and you can be sure to have a abundance of tenants to screen in order to find a quality tenant.
Feel free to reach out if I can help in any way.
@Daniel Castellanos Hello and welcome to Bigger Pockets! You came to the right place for real estate investing. On Bigger Pockets, you can reach out to experienced real estate investors while getting deals done the right way.
I commend you for taking those crucial first steps. You are on the right track.
In my years of perfecting and sourcing undervalued real estate for immediate resale, Daniel, I discovered that starting out in rental investing came with a few issues (i.e. landlord headaches). I've found more success sending out offers to owners directly.
You can get interested sellers to contact you. Once an interested seller contacts you, chances are they will be motivated to deal with you.
Happy to help further. Feel free to PM me. Congratulations, and I wish you nothing but success.
You are not alone in your real estate ambition.
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