Realtor/Investor · Ft Lauderdale/ Miami Florida · Member since 2015 · 311 posts · 104 votes
There seems to be very little happening on the local Miami and Broward Forums for Florida. I know there has to be more members on BP local to South Florida and there is so much to talk about. Anyone in out market with feedback and input on what they have been experiencing with investing?
Rental Property Investor · Boynton Beach, FL · Member since 2014 · 273 posts · 197 votes
9y
Plenty of conversation going on in Palm Beach County :-) As for what's happening here - deals are hard to find when it comes to buy and hold rentals. That has been the theme for atleast the past 6 months. Prices have gotten to a point where finding good cash flow is difficult, especially if you do not want to self manage.
I'm closing on a small towhnome in Lake Worth couple weeks from now that I will self manage as the cash on cash return is acceptable. First thing I found in quite sometime.
No idea if the environment is the same in Broward, but I'd assume its South FL on a whole.
Rental Property Investor · Boynton Beach, FL · Member since 2014 · 273 posts · 197 votes
9y
Plenty of conversation going on in Palm Beach County :-) As for what's happening here - deals are hard to find when it comes to buy and hold rentals. That has been the theme for atleast the past 6 months. Prices have gotten to a point where finding good cash flow is difficult, especially if you do not want to self manage.
I'm closing on a small towhnome in Lake Worth couple weeks from now that I will self manage as the cash on cash return is acceptable. First thing I found in quite sometime.
No idea if the environment is the same in Broward, but I'd assume its South FL on a whole.
Real Estate Investor · Miami, FL · Member since 2010 · 939 posts · 739 votes
9y
Yasmine Bisumber I am located, in Miami. I am a Rehabber as well as a Buy and Hold Investor. Please free to reach out, to me, if you feel I may be of assistance, to your Real Estate Endeavors. Much to your success!
Flipper/Rehabber · Portsmouth, NH · Member since 2016 · 12 posts · 9 votes
9y
On the Treasure Coast, deals are hard to find as well. That is if you care about immediate cash flow. Inventory on the low end is tight and short sales and REO's are nearly non-existent. If you can get in and out on a flip quickly then I guess you'll appeal to the low inventory. Hard to accomplish with contractors in short supply.
Investor · Miami, FL · Member since 2015 · 66 posts · 9 votes
9y
Hey @Yasmine Bisumber I'm a newbie investor here in the Miami area. Just have one property under my belt and I'm doing the famous house hack strategy, as is a duplex I live on one side and rent the other. Anyways here's what I see Miami, is FULL of house flippers right now everybody and their cousin is trying to flip distressed property's. Which is driving prices up for these properties and leaving investors with smaller profit margins. NO SPACE FOR MISTAKES. When it comes to multifamily properties there's less competition even though there is still plenty, down here a good multifamily deal will have an offer accepted rather quickly. Prices are steep and seem to keep climbing even though demand here for rental property's is amazing. I'm not sure how long this can last. I believe we will see a market adjustment of 10-)15% withing the next 2-)3 years. Hey @Thomas Franklin I always see you here on the forums and wanted to thank you for spending the time to help new investors and give back. You sound like you've had your share of success, and I for one will definetly love to pick your brain and learn from someone like yourself.
Thanks guys happy investing.
P.S @Jerry Miller I will be attending the Feb 1st meeting hope to see you there. :)
Realtor/Investor · Ft Lauderdale/ Miami Florida · Member since 2015 · 311 posts · 104 votes
9y
@Mitchell Jaworski Same here! The market it tightening up not only for investment opportunities but for retail buyers as well. Prices are on the rise so margains for us have become quite small. Like @Jose Alonso said, there is NO room for error!
@Andrew Krause What I am seeing with REO's here in Broward County specifically is that they are picked up quickly by investors who have the cash and are able to close right away. There is very little room if any for negotiation unless you are coming in all cash with a super fast closing scheduled.
Ocala, FL · Member since 2017 · 15 posts · 2 votes
9y
Is it true that those that qualify for FHA loans can get first pick before even cash purchasers on certain properties? I had thought I heard that on one of the podcasts, and was curious if that strategy may help some investors just getting started in a near saturated market? Obviously this would not work for everyone, but just as food for thought...