All Forum Posts by: Charles Valdemoro

Hi everyone, my name is Charles. I currently live in miami. Im pretty new to real estate investment and i was looking into flipping manufactured homes. Has anyone been successful with this type of real estate investment in todays time? I have a max of 15k to invest but i dont have any experience with construction or renovating. Any advice would really help.  

I've been trying to do as much research I can to learn about the market in the Miami area and it seems like I can get a better cash on cash return with condos since it's cheaper than multi family homes and the monthly cost is less (I search for condos with a filter of no HOA or max of $100-200 a month). If the hoa of a condo is around $100 it would be cheaper to maintain than a single or multi family home right? What are your thoughts?

That is a good point, I definitely would have done house hacking if I got into real estate earlier, but I just got married and just settled in so it's not an option right now. In regards with condos, I would filter my searches to no HOA or a max of $100 a month. I could be wrong but based on my light research in the Miami area it seems like condos generally give a better cash on cash return with the lower price and a higher rate for rent. What do you think?

Thank you for the advice Brandon that helps a lot. I have an appointment to speak with an agent next week but I want to do some research on the market to see which areas to focus on. I will definitely be in touch with more questions. Thanks again!

@Malgorzata Sadowska

Thank you very much. What would you suggest a good strategy for me to check the level of demand an area is for renters? And also how do I find out how much people are being charged in rent in a certain area?

Thank you for the input and taking time to help, I really appreciate it. One of my worries about finding the right property is the fear of not finding a tenant. Do you have any advice on any website or sources or any strategy I can use in order to see if a certain area is a hot spot for renters? For example, is there a way to see how many people are looking to look for a place to rent in an area or to see how many people ate renting condos in an area. @Brandon Rush

Hello everyone. I currently live in Miami, FL. Im a registered Nurse with close to $31,000 in my savings account. I just got married and we currently live in a 2 bedroom apartment paying around $2100 in monthly rent. Our gross yearly income is around $130,000 a year. Ive been doing a lot of research in the past 2 weeks about real estate investing and am very motivated to take the jump from just learning to action in the near future. I was first looking into buying and selling manufactured homes because it seemed like it had a smaller risk factor compared to buying other types of rental properties. But as I watched more videos and podcasts and even started looking at the numbers, I think im leaning towards buying a condo here in miami in the city to rent out. My main goal is not to be a filthy rich, but just to have enough passive income to retire in order to do this full time. As of right now im leaning towards focusing on buying a condo as my first rental property since i feel like its easier to manage for someone like me who is starting out. I would appreciate any advice as i am very eager to learn. Thank you.