All Forum Posts by: Dan DeMott

Hi @Ricardo Salter , welcome to the site. 

Check out http://www.palmbeachia.com

They have 1 meeting and 1 networking lunch per month at locations on Palm Beach Lakes Blvd. I am not affiliated with them, but find the meeting very informative and always great networking. 

There are a couple others I can recommend as well. 

Feel free to send me a message.

Hi @John Kallas , glad you found a good tenant screening company and application. 

I want to second what @Kimberly H. said about written criteria. The BEST protection agains a lawsuit or frivolous claim is detailed, written criteria which you should prepare ahead of time, and apply equally to ALL applicants. 

I also find written criteria to be a great pre-screening tool. I share the details of my criteria on the first phone call, and many people opt-out of a showing once they know the expectations for a tenant. 

Good luck, and keep us posted. 

@John Thedford  - Firm and consistent has always been the best policy with my tenants. Set the expectations and don't waiver. 

That said, @Aaron Mazzrillo 's rule #6 is also one of my policies. 

This is a great example for any current or future landlords and/or property manager.

@Howard McGowan I just recently joined BP myself, but have found it to be a great resource and community. As others have mentioned, make sure to checkout the resources available under the "Learn" section above. 

There are some very active investor networking groups in Broward County. Feel free to send me a message and I will share which ones I find most beneficial.

Best of luck,

Dan DeMott

@Jeff Kushner  - Thanks for the note and look forward to meeting you.

@Edgar Collado  - Send me a message and I will share links to some great networking groups in Weston. I was just down there on Wednesday. The flat-fee model is not common in Florida, or anywhere I can find, but I plan to make it very popular!

@Devan M.  - Thanks for the welcome. I will certainly check out the network tab. This site is great!

Hello all,

Just joined BiggerPockets at the suggestion of a friend. I can't believe I have been missing out on this great community. 

I am a Florida native and career real estate professional. In addition, I have investment properties in Palm Beach County. 

I am passionate about real estate investment, and am always looking for opportunities to learn more or share what I know.

When I am not working on real estate, I enjoy kitesurfing, classic cars, and spending time with my family. 

How can we work together?

Dan DeMott

Hi Caleb,

Have you considered buying a duplex as your first property? My first purchase and current home is a duplex. It has been one of the best financial decisions I made. I have renovated my unit with finishes that fit my taste, and the rental income from the other unit covers the mortgage. The savings generated by living rent-free has since allowed me to buy other rental properties and start my own business. You can use an FHA loan to buy a property with up to 4-units if you occupy one of them.

In my experience, it was a great way to get started with investment property and develop landlord skills/experience. 

Good luck and keep us posted on your progress.

Dan DeMott

www.RentProFL.com

@Amanda Sutherlin Congrats! 

Buying my first rental property was a great day and gives me financial freedom to this day! 

Best of luck!

Hi @Will F.,

If you are considering a multi-family investment in South Florida, I would suggest you consider Palm Beach County. Broward and Miami Dade Counties have many great investments as well, but there is higher competition for properties. In Palm Beach County, cities like Delray Beach, Boynton Beach, Lake Worth, Greenacres, Lake Park, and Palm Beach Gardens offer investments at a variety of price points.

I also agree with @Aly L, concrete block buildings are desirable. 

You should also consider the roof type; in some older parts of South Florida you will still find flat roof buildings which can require more maintenance and lead to higher repair costs in the event of a leak.

Good luck,

Dan DeMott

www.RentProFL.com

(561) 327-6056