Real Estate Agent · New York, NY · Member since 2019 · 55 posts · 28 votes
Hi everyone!
My name is Roi and I am currently residing in Brooklyn, NY. I have worked in real estate in NYC for the last 10 years. I am seeking flip/buy and hold opportunities in Miami-Dade, Broward and Palm Beach Counties. I am planning to relocate to Florida with my family in the next 1-2 years. I will be in Miami Dade/Broward during the month of July and hoping to connect with other investors/realtors. Any and all suggestions and advice are welcome!
Really depends on what you are looking for to help you with determine your ideal location (duplex, condo's, SFH, etc). Flipping is a very competitive in this market but doesn't mean it can't be done. Just find that most people don't have the best margins because they paid too much.
There are many areas that are great for rental properties. I would say the biggest thing to look out for are HOA's and HOPA's. What may look like a good deal ends up having very strict rental restrictions or some HOA's are up to $1000/month. (Which really eats into your investment)
Really depends on what you are looking for to help you with determine your ideal location (duplex, condo's, SFH, etc). Flipping is a very competitive in this market but doesn't mean it can't be done. Just find that most people don't have the best margins because they paid too much.
There are many areas that are great for rental properties. I would say the biggest thing to look out for are HOA's and HOPA's. What may look like a good deal ends up having very strict rental restrictions or some HOA's are up to $1000/month. (Which really eats into your investment)
I am an investor/realtor in Palm Beach County. Really depends on what you are looking for to help you with determine your ideal location (duplex, condo's, SFH, etc). Flipping is a very competitive in this market but doesn't mean it can't be done. Just find that most people don't have the best margins because they paid too much.
There are many areas that are great for rental properties. I would say the biggest thing to look out for are HOA's and HOPA's. What may look like a good deal ends up having very strict rental restrictions or some HOA's are up to $1000/month. (Which really eats into your investment)
Let me know if I can be any more assistance in your search. Kyle Funnell, Realtor
@Kyle Funnell
Hi Kyle,
I agree with you on the flip profit margins; I can imagine it's way different than the NY market (or what the profit used to be). As a newcomer to the Florida market I assume it would take some time to narrow down the focus, find sources and build a team for each project. I am still open to that direction and spending the time finding the right deals where the profit can justify the investment.
I own a condo unit in NYC with a great cash flow that I can direct towards future projects. So far I've looked into some rentals in South Florida, mostly multi-family that need work and seem that they can give a good return.
If you have any online, local, specific resources (other than MLS) to gather more info please share.
Along with the MLS there are investor network groups in my area that discuss deals they are getting. Most of them are online right now due to COVID, so you could join!
Investor · Tampa, FL · Member since 2019 · 1k+ posts · 1k+ votes
6y
Hello Roi,
I just moved from Miami to Tampa. The market in Miami is great if you are going to hold up on a property for more tan 5 years. Prices are all over the place because a lot of immigrants paying more than full price for the properties causing the market to appreciate very quick. There are some area in Miami that are growing a lot like North Miami and Wynwood.