All Forum Posts by: Account Closed
Account Closed has started 28 posts and replied 114 times.
Post: New Mercedes-Benz in Brickell
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Christian Busch:
@Account Closed this is an interesting project by a reputable developer. Make sure you check out the official website: https://miami.mercedesbenzplaces.com/ - the website you posted is by a broker who wants to represent you. Message me if you want to chat further on this, I'm in touch with the sales office already.
The website is not relevant, they are just the only ones posting prices.
Would love to get actual insight to my post.
Post: New Mercedes-Benz in Brickell
- Investor
- Miami, FL
- Posts 120
- Votes 46
Hey guys,
Looking to buy a property for long term appreciation budget around 1.5m
I wanted to ask your thoughts on the new Mercedez-Benz project in Brickell.
Some info can be found here: https://miamiresidential.com/mercedesbenzbrickell/
Is it a good investment? Which would be the best play?
How do I even go into assessing something like this for rental value and long term appreciation to know if it's a good deal?
2 x Studios? 1 bedroom? 2 Bedroom?
Thanks
Post: Choosing the right market to start
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Dave Kush:
Just saying, David Meyer has a webinar on choosing the right market.
I'm already investing, but going to check it out. Here's the link.
https://biggerpockets.zoom.us/webinar/register/7717078553365/WN_YF22_Lu5SGScrKzwY20DlQ#/registration
Awesome, will check it out!
Post: Choosing the right market to start
- Investor
- Miami, FL
- Posts 120
- Votes 46
While I appreciate all the brokers pushing their market here, it would be nice to get some investor opinion on the matter as well.
A lot of people are saying the Columbus and Ohio are over saturated and over harvested already and it's nearly impossible to find good deals.
Open to hear investor insight, thanks!
Post: Choosing the right market to start
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Carlos Valencia:
Hi Daniel,
If your budget is around 250-300k definitely stay away from California. Unless your looking to live in the outskirts of all the California major cities then yes you can most definitely find properties in that range but not many people will want to live out in those outskirts. Its really hard to do BRRR in this market in California. I would go more for Midwest areas or Dallas which is not that close to California but it depends what your definition of close is to you. Are you looking to use cash to buy your future properties or using borrowed money like mortgages?
Cash
Post: Fix and Flip Markets - 2024
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Alan F.:
Quote from @Account Closed:
Quote from @Alan F.:
Quote from @Christina Baliva:
As we approach 2024, which markets are you all looking more closely at for fix and flip projects?
Northern California
Where in Northern California?
Where I make 100k or more, net.
Which is where
Post: fix and flips still possible in southern california with todays market?
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Corby Goade:
Quote from @Account Closed:
Quote from @Corby Goade:
I've been investing for 25 years and everyone who has reletively little experience always thinks you can't invest, flip, brrrr, whatever, in their market. The fact is, you can do any of those in ANY market. When home prices go up, so do ARVs and gross profits. There's never been a time in history where building equity through adding value wasn't possible, that's just stinkin' thinkin'.
That being said- processes and quality matter greatly and thats where most people lose their shorts, not on the actual deal.
Well you cant BRRRR at 7% interest rate in a market that pays 3% Cap Rate on rentals.
Sure you can. I just finished one at 7.785%. Besides, there are no cap rates on residential real estate- you refi based on comps, not NOI.
Post: Flipping/BRRRR markets in outskirts of Los Angeles area
- Investor
- Miami, FL
- Posts 120
- Votes 46
Hello,
So I am ready to get going on flipping or BRRRR.
The thing is, my local market (Los Angeles) is not a great place to start as entry points are really high for beginners and it's very hard to get good deals here. Also, cap rates are so low it's impossible to BRRRR.
I have a big advantage in LA area because I have a contractor partner who can build at cost, however, I am wondering if there is any interesting markets 1-2 hours from Los Angeles that can be more realistic to start.
Would love to start with a project under 1M. Ideally like 600-750K max budget all in.
Thoughts?
Post: Fix and Flip Markets - 2024
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Alan F.:
Quote from @Christina Baliva:
As we approach 2024, which markets are you all looking more closely at for fix and flip projects?
Northern California
Where in Northern California?
Post: fix and flips still possible in southern california with todays market?
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Corby Goade:
I've been investing for 25 years and everyone who has reletively little experience always thinks you can't invest, flip, brrrr, whatever, in their market. The fact is, you can do any of those in ANY market. When home prices go up, so do ARVs and gross profits. There's never been a time in history where building equity through adding value wasn't possible, that's just stinkin' thinkin'.
That being said- processes and quality matter greatly and thats where most people lose their shorts, not on the actual deal.
Well you cant BRRRR at 7% interest rate in a market that pays 3% Cap Rate on rentals.