All Forum Posts by: Andre Crabb

Hi all!

New investor here looking (hoping) to invest in Miami for my first property, if the numbers can work out. But can they? Two properties by the end of 2018 is the goal! Here's what I'm looking for:

I'd like a 4-plex buy somewhere...

• …with landlord friendly laws (Florida, check!)
• …I would consider living, and maybe house-hack the first year. (Miami, check!)
• …with good public transportation and closish to an airport.
• …I can afford two properties. Depending on price and loan options two 4-plexes would be sweet but maybe a 4 and a 2.
• ...will cash flow well :)
• …there is a great property management company. (They say this makes a huge the difference.)
• ...there are good property taxes and no rent control (I hear this changes by zip code)

Thoughts? Any suggestions on neighborhoods in Miami that might fit the bill? Whats the overall market like in Miami right now?

Cheers,

André

Yea its definitely been a mental jump to make the decision...but it has been decided 😉

Thanks everyone for the thoughts and advice.

@Ned J. There are so many success stories that they should outweigh the horror stories.

@Alim Abrahim Thanks I'll reach out about Florida 👍

@Russell Gronsky Great point in knowing the market, and not just pointing on a map! haha

@Scott Sklare Where do you normally do you investments?

@Todd Dexheimer I appreciate those tips! I'll read over that article and focus on 4-plexes. Do you have advice on how to build solid long-term relationships with a great team remotely as a beginner? Luckily as a nomad I can live in a place for a month or so to get my feet on the ground :)

@Rahul Bhatt PM coming your way 👌

"Long-Distance Real Estate Investing" is a great book. It taught me so much about how to go about managing a long distance deal.

The first decision though seems to be location. If we're not going to invest locally, where do we want to be "local" to?

What do you guys have on your list for criteria of where to invest?

Hi friends,

Are any other investors out there "remote" and investing away from home? I'm going down this road and it'd be great to connect with others doing the same.

Cheers,

André

For us new guys, what would have the better ROI: Listening to the BP Podcast episodes or listening to the BP (and other RE) audio books?

If only we had a crystal ball 🔮

@Ali Boone I was referencing the general market crash that's bound to happen soon due to the long bull run the US has been on. No doubt more REI opportunities will open up then.

@Ali Boone Investors must be waiting around for this crash to happen then

Thanks @Ali Boone for your thoughts. I'll definitely check out that article.

About your comment on the 4-plexes, is that nation-wide? Any idea what has made them tight? Is it the same for 3s and 5s?

From what you said @Timothy Doenges, is it better if affordability and avg salary are generally higher or generally lower?

It seems as if those two could be inverses of each other.