All Forum Posts by: Account Closed

Hey,

My name is Daniel, I live in Madrid and want to get into the business of acquiring condos in Madrid in order to AirBNB them.

If there are any locals here in the industry and have some insight I would be very happy to meet and discuss.

I am looking to act fast and on a larger scale. Acquire 5-10 properties in the next 48 months and either renovate to AirBNB or AirBNB as is.

Thanks!

Hey guys,

I'm looking for long term high cash flow producing real estate.

I've been offered to purchase condos in two pre-construction projects in Miami.

600 Miami World Center and Domus Brickell Park

Domus prices:

1BR 578SF - $620K

2BR 813 SF - $745K

600 Miami prices:

1BR + Bath - $742K

2BR + 2 Bath -$940K

Both of these are being marketed as AirBNB investment projects and are allowed for AirBNB. They are all planned to be ready sometime in 2025-2026.

So first question is, does anyone have any insight on:

1) These projects specifically?

2) Buying pre construction in either of these areas for future short term lease?

3) General thoughts of which of these two seems like a better long term opportunity?

Just generally, any information or thoughts on this would be helpful. 

Thanks in advance!

Sure I can flip, was hoping to hear some other insight as flipping it will not serve my long term goal of building cashflow. 

Hey, so I have been wanting to start BRRRRing in the Los Angeles area. But when I run the numbers I just don't see how it's supposed to work with 7% mortgage rates. Even when I take a super optimistic situation such as:

Home price: $750,000

Rehab: $100,000

Post Rehab price: $1,050,000

Let's say I take back my $850,000K at a 7% 30 Year loan

I get super lucky and am able to rent the property for 7% a year $6,200. Which is very very high for a 1M home in Los Angeles.

Expenses:

1. Property Tax - $800

2. Insurance - $100

3. Mortgage - $5,650

Total expenses: $6,550

So I am actually bleeding $300 a month under the assumption that:

1. I raised the value all in by 25% doing a rehab. If I raise it by 20% Im $500 out of pocket a month..

2. I was able to rent it for 7% (which is very high for Los Angeles)

Can someone shed some light on this, am I missing something. Seems that the only way to make money today in BRRRR is finding areas that rent at 8%+.

Anyone BRRRing in LA during these times?

Thanks in advance