Real Estate Investor · Miami, FL · Member since 2015 · 38 posts · 13 votes
Hi! I'm Autumn - I've recently decided that I'm ready to take my real estate investment goals seriously and that its time to take action on them.
Starting out, I plan to wholesale - and then re-invest those profits into flips and rentals - and eventually I plan to break into apartments and commercial real estate at some point in my journey.
Developer · Palm City, FL · Member since 2018 · 326 posts · 99 votes
8y
Hi, welcome to BP @Autumn Alexander I am located in Palm Beach. I am searching for SFH to flip & apartment complexes for cash flow. Feel free to connect!
Real Estate Agent · Miami, FL · Member since 2018 · 3 posts · 1 vote
8y
I Autumn! I just ran into your profile, I'm looking for people to network in the Miami area. I just recently became a Real Estate Agent and I plan to become an investor very soon with a first flip, taking my family business in Real Estate one step further. I am looking for wholesale deals and people who can share some experiences with me regarding which areas are good in town.
Specialist · Miami, FL · Member since 2014 · 45 posts · 17 votes
8y
Hey ladies,
I am looking to connect as well! I am currently a wholesaler of three years and counting, licensed agent since '14. I have been working in the Miami market for the most part, and am currently starting to advertise in Broward and Palm beach for motivated sellers. Let's grab lunch some time! @Autumn Alexander@Paula Mena
Property Manager · Pompano Beach, FL · Member since 2017 · 15 posts · 1 vote
8y
Hi Everyone! I am from the Broward area and looking to do my first investment by house hacking a small multifamily. I would be interested to hear about others experiences in the market down here since South Florida does not seem to get a lot of love here on BP :)
Investor · Tampa, FL · Member since 2017 · 205 posts · 92 votes
8y
Hi all, sounds like there's a nice motivated group here! Count me in on any discussions, I'm looking to do my first flip by the end of the year in south Florida :)
Real Estate Investor · Miami, FL · Member since 2010 · 939 posts · 739 votes
8y
Autumn Alexander before you consider Wholesaling, please be aware that it is illegal to do so with a Real Estate License. I refer you to Florida Statues 475.42 and 475.43 and the following URLs.
https://www.richardhornsby.com/crimes/regulatory/unlicensed-practice-of-real-estate.html
https://swflreia.com/2016/01/19/unlicensed-real-estate-activity-florida/
I have been a Real Estate Investor, since 1998. Please feel free, to review my profile.
Real Estate Investor · Miami, FL · Member since 2015 · 38 posts · 13 votes
8y
Hello Everyone! It's nice to meet you all...I am sending connection requests now.
I would love to grab lunch @Andreina Marquez! We should definitely arrange something. I am preparing to start advertising to sellers. I'm currently working on building up my rolodex, and once I have a comfortable buyers list I'm going to start doing paid advertising to attract sellers....I want to make sure I can handle the response I'm expecting/hoping to receive.
For those who have experience advertising to motivated sellers....what has your experience been like? What methods have you tried? What worked? What didn't work?
I plan to do Direct Mail...perhaps a 1-800#....SEO....social media...and good old fashioned research/driving for dollars....I would GREATLY appreciate any other ideas.
@Thomas Franklin, I don't have a real estate license....but I appreciate you sharing your advice. I tried sending you a connection request twice but there was an error...perhaps you could try sending me one if you like.
Developer · Palm City, FL · Member since 2018 · 326 posts · 99 votes
8y
Hi, welcome to BP @Autumn Alexander I am located in Palm Beach. I am searching for SFH to flip & apartment complexes for cash flow. Feel free to connect!
Rental Property Investor · Boca Raton, FL · Member since 2014 · 1k+ posts · 713 votes
8y
@Autumn Alexander, @Vania Cortez, @Jordan Ray... we have a monthly meetup group that meets over coffee in a Delray Beach. Let me know if you’d like more information as I can’t promote he details in this forum. Casual atmosphere. Free to show. Free of pitches.
Hollywood, FL · Member since 2018 · 1 post · 0 votes
8y
I'm brand new still wet behind the ears and reading everything I can about investing. I live in West Pembroke Pines and from what I can see we live in the worst market for investing, everything is way over priced unless you start looking in less than safe areas. I'm looking for feedback from other South Floridians who have been investing down here and what their thoughts are.
From what I read you should be looking for areas that are growing, areas that are cheap and going up, areas that have several big employers or areas that are right outside a big city. Our market down here seems to have none of that. So I've been looking to outside states like Memphis but I would much rather invest locally.
Fort Lauderdale, FL · Member since 2018 · 97 posts · 48 votes
8y
This is from a seasoned investor in SFL:
First and foremost, Deals do not fall on your lap. You need to go out and get them!
It is true that market is tight in terms of getting deals. This is true in almost all the markets. Lot of competition among investors and conventional home buyers. But deals do come up if you eyeball the market properly. Margins have shrunk though.
More and more investors are turning to courthouse foreclosure auction to mitigate the competition from mortgage buyers. This carries lots of risks and are not for a newbie investor. Be careful here!
As the foreclosures decline it would be even more challenging.
If you are a newbie you should hold to your day time job and set aside real estate investing for the night. This way you will even have additional revenue stream coming while you stabilize your financial situation.
Reach out to wholesalers and get on their mailing list to look for deals. Again, not everything they have is a deal. You need to pick couple of markets and focus on them and slowly expand your wings to other markets.
Specialist · Branford, CT · Member since 2018 · 222 posts · 121 votes
8y
@Vic Iyer It is pretty common in the hot markets around the country for bread and butter lists to get over-used. Absentee Owners might be getting offers every week.
@Dean Iodice - You do need to find Off-Market Leads. Mailing is a good way to do this - both in FL and Memphis.
@Autumn Alexander, When doing a direct mail campaign, consider your audience carefully. There are many levels of motivation - you want to find some that work for your area.
You can work with a list broker to get some suggestions. It shouldn't cost extra money and it's much easier than going online to figure out what you want.
Some might be Seniors with Long-time Ownership and Homeowners with Low Financial Stability Scores. Both have homes that probably are behind in updates and repairs so they won't be expecting top dollar for the house.
Always be sure that whatever list you get that it has been run through the National Change of Address (NCOA). You don't want to waste your postage dollars mailing to old addresses.
Real Estate Investor · Miami, FL · Member since 2015 · 38 posts · 13 votes
8y
@Dean Iodice I used to live in Clarksville, Tn...about 40 minute drive from Nashville....if you're looking at Memphis, I also recommend looking at Nashville...possibly even Clarksville...not sure where it stands now, but a few years ago Clarksville was in the top 3 growing cities in the nation. I'v seen some pretty amazing deals around there. Like this one I missed out on when i was in college.... Her mother passed away....Owner Financed - Asking 35,000 - Terms 5,000 down 600/month...this was a 3 story victorian style home with 3 APARTMENTS IN IT, in a college town!!! Someone had the cash...4 months later its gorgeous and all 3 apartments are rented out for $1500/month. So i TOTALLY RECOMMEND INVESTING IN TENNESSEE.
Speaking on South Florida, First off its not a very large area in terms of land compared to other areas in the country, so with this in mind I don't know that i would say its a bad area to invest in, but i do think that a seasoned investor would do much better here than a newbie, simply bc i think its safe to assume they would have the network/financial backing to move quickly on deals... It also depends on the neighborhood and the type of investing you're doing...flips - buy & hold - airbnb, apartments, etc. For example, an Airbnb on Miami Beach is going to turn a lot more profit than an Airbnb in a single family neighborhood next door to a school...granted it will probably cost more, but that's where the math comes in to make sure you have a good deal... This is also why it is important to know the market, and what type of investing you want to do.
I've been here almost 2 years now....I've noticed that Homestead is growing pretty rapidly. There's a lot of new neighborhoods being built, land for sale as well as established neighborhoods with homes that need help.
@Chrissy Parsons thank you for the advice! I'm planning on using Post Card Mania - I believe they provide lists...have you heard of them? What do you think of them?
Tampa, FL · Member since 2015 · 145 posts · 47 votes
8y
@Autumn Alexander Hi and welcome to BP. You have come to the right place to pursue wholesaling. Educate yourself with all the site has to offer including podcasts, webinars, books, and especially the forums to meet people (like your doing here) and network. That's what it's all about. Seek and you Shall find. Good luck to you.
Is it illegal to wholesale with a license or to be a real estate agent that pays a referral fee to a wholesaler. I’m moving to South Florida in August but I know a couple active wholesalers in Ohio who have their RE license. I never asked.. May be a state thing?
Property Manager · Pompano Beach, FL · Member since 2017 · 15 posts · 1 vote
8y
Thanks for the invite @Gabriel Amedee! I would be interested in checking this out but would be late since I work in Boca until 6. Hope to see ya there :)
Specialist · Broward County, FL · Member since 2015 · 52 posts · 22 votes
8y
This is a great forum here. Great job @Autumn Alexander for starting the discussion. It is good to see my fellow SFL folks chatting and sharing their experiences. Everyone seems to be at different stages of their journey and that is always good to see because we get many different perspectives.
On my end, I am a seasoned Real Estate Investment Analyst but novice Investor. Yesterday I actually wrote my very first offer for my very first real estate investment. My first investment will be a "House-Hack" of a 3- or 4-unit SFH. I've got the funding lined up and a prioritized list of properties that I am going after. The next step is just to play the numbers game to see which property I'll end up with. Either way, I'm very excited about this next stage of my investing career.
@Hannah Rubin@Dean Iodice If you are measuring our market's "deals" against the ones you hear about on the podcasts, where they talk about getting the "2% Rule" to work, then you're correct. It's VERY difficult to find any rental out here that hits that 2% mark. I was listening to a podcast this morning where the guest said he got a triplex for like $67,000! Hearing that makes me cringe knowing that the worst triplexes I've seen here in SFL are running for like $200,000+ (ugh/lol). However, in my search for my first triplex/quadplex, I have been able to find deals that pencil out with no-or-low cash flow from the owner's unit. Now, I have my own set of investment criteria that may be different from yours so I'm not sure how far off our ROI, IRR, and/or Cash-on-Cash requirements are. Nonetheless, I'm sure you can find a decent deal that takes into account all your criteria if you stay aggressive/creative in your search. Same thing with flipping; you just have to stick to your criteria and not get pressured into bending your criteria to force a deal to work.
Everyone, it would be great if we all kept in touch and continued to share our experiences with one another. I am definitely down to check out some local meetups. The goal for me now is Buy-and-Hold with the endgame being the development of Trophy Assets down the line. Growing and developing my professional vision while helping others reach their goals is how I'd like my story to read in the end. Let's connect with each other! I'm here to help and learn from as many people as I can.