Investor · Wellington, FL · Member since 2026 · 1 post · 1 vote
Hi everyone, I’m Joacim from Wellington, FL. I’m a serial entrepreneur getting started in real estate, looking for my first property to fix and flip or rent out. Ideally under $300k in South Florida, but open to other areas.
I have time to put in the work and would love to connect with investor-friendly agents, lenders, contractors, and experienced investors. If you have a property that might fit or experience helping beginners get their first deal done, let’s connect!
Hey Joacim, welcome. On the money side, decide early whether this first one is a flip or a hold, because it changes the loan. A flip usually goes on a short term fix and flip or hard money loan that can cover part of the rehab. A rental can go on a DSCR loan, which is based on the property's rent instead of your personal income. If you're not sure yet, a lot of people buy with a short term loan and then refi into a DSCR once it's fixed and rented.
Before you start making offers, get pre-approved for the route you pick so sellers take you seriously and you know your real max price. I do investor lending and work with a lot of first time flippers and buy and hold investors, so I'm happy to walk through what you'd need for this first deal. Give me a call, my number's in my signature below.
Hi Joacim, welcome to the forums, and starting with connections is a smart first move. The first thing I would nail down is whether you want to flip or hold, because the two need different numbers and different teams, and an agent will ask you that right away.
Next, talk to a lender before you shop in earnest, so you know your real budget and whether your under $300K target works for the financing you plan to use. That price point is tight in South Florida, so staying open on area and property type, like you said, will help a lot.
A local investor-friendly agent can show you what is actually closing in your range and introduce you to the lenders and contractors who work with investors every day. Good luck on your first deal.
@Joacim Henning, Here in So FL as well, I'd settle flip or rent before you look at listings, since each needs a different house, loan and team. Under $300k is tight in South Florida for either one, so the strategy will probably pick the area more than the other way around. I'm open to trading ideas on what fits a first deal here. Will you be running the rehab yourself? What's pulling you toward one strategy over the other?
Hi Joacim! Welcome to the investing world. I'm a fellow investor and mortgage broker here in FL. I personally invest in small multifamily properties and work with investors on financing for flips, rentals, and house hacks. Happy to be a resource as you navigate your first deal! Are you leaning more toward flipping or buying something to hold long term?
Under $300k in Palm Beach County you'll see a lot of condos and villas. If you go that route, read the HOA docs before you offer. Florida's milestone inspection and reserve study rules are hitting older buildings with special assessments, and some lenders won't finance a building that fails their review.
For a flip, screen with 70% of ARV minus rehab. $300k ARV with $40k of work means $170k max offer. Pull closed sales from the last 90 days, about half a mile out, same beds and baths, similar square footage. Ignore active listings.
For a rental, get a real insurance quote before you write the offer. Roof age and wind mit swing it a lot.
Post one you're looking at and I'll run the numbers with you.