All Forum Posts by: Frank Mongiello

Looking for a florida real estate attorney that works with estates. Feel free to message me if you or someone you know could connect me.

@Ruth R.

@Ruth R.

Hi Ruth i am a realtor and my office is in Jupiter off of Indiantown Road. I’ve seen this play a few different ways and wanted to lay out a few different options.

To start, Jupiter is a highly desirable destination for people living in Florida but also out of state. People coming from out of state(mainly New York, Connecticut, and Massachusetts) are targeting the Jupiter school districts and seem to be willing to pay way over asking because prices down here are still much cheaper than up North The quality of living is seen as higher down here as well.

Given that, you are more likely to sell for a much higher price to someone that plans to own rather than an investment. ROI for single family homes in this market isn't very high in this market and your offers will be less as a result.

If you did want to go the route you mentioned and leave the tenant in place, I would recommend setting 1-2 open houses for 3-4 hours in length so the tenant has plenty of time, as well as a schedule to know when people will be coming. Don’t allow outside showings and you’ll still probably receive 10+ offers if the house is in good condition.

Are you considering making the move into real estate full time and don't know where to start? 

Are you debating whether to sign up to get your real estate license? 

Do you want to know how quickly you can make money as an agent? 

I've been there and spent a ton of time researching and interviewing at many different brokerages before I came to my decision to join DJ&Lindsey. Making a decision to become an agent is usually a great or terrible decision for people based on the brokerage they choose and the resources that are offered. Most brokers rave about their state of the art training system that will get you prepared in a couple weeks. To be honest no training system is going to get you ready for the real estate world(even our training). There are simply endless scenarios that trainings won't be able to cover. To be successful you'll need a decent training, mixed with a dedicated support network and constant deal flow. If you have leads and support with a go get it attitude you'll be able to make it in this business!

I would be happy to answer any questions anyone may have to see if becoming an agent is the right decision for you. 

Hey Bigger Pockets community!

I'm an agent in South Florida servicing Jupiter, West Palm, Taquesta, Abacoa, Lake Worth, Boynton, as well as some surrounding areas. One thing I hear from buyers all the time is "I'm going to wait for the market to drop" or "I'm waiting for the correction" or "the recession/depression is coming" or "it's a sellers market, there's no way prices can stay so high"

In my opinion we aren't due for a correction in this market given the large influx of people coming from out of state and the extremely high amount of interested buyers we have down here. A lot of people make the comparison of this market to 2008 but I don't see the connection. Interest rates in 08 were at 6-7% and mortgages were being handed out like candy leading to a large number of foreclosures. I don't see the same story playing out!

That being said I do think we are due for things to slow down in the next 6 months and for the market to stabilize but not necessarily drop given demand is still very high. Even an influx of foreclosures may not be enough to shake the market because of how many potential buyers there are. 

I wanted to get everyones thoughts on this topic and where they see prices going moving forward! Also whether you think now is a good time to buy or if you're waiting for the unknown to happen. 

Hi Ben,

I graduated college in 2018 and just moved down to West Palm Beach from New York a few months ago pre-covid(rough timing). I am very passionate about real estate as well and was planning out my first move by analyzing many different sub-markets and what investment strategy I liked best.(I also feel like BRRR is the best for my situation).

I quickly realized that if I were to buy a property for someone else to live in, not only is there huge amounts of risk because I am new to the market, but all my capital to buy my own place is now gone. Not to mention I'm stuck paying rent which could be going to paying down principal. 

Unless you plan on living at your parents place for a long time or renting for multiple years after graduation, like everyone said house hacking is the way to go and what I am in the process of getting into. Like Orlando, multi families are not very common here and the ones you find aren't in the best neighborhoods or are very overpriced. My plan is to rent out rooms to my friends and I am sure you could do the same if you offer them a great monthly rate(100-200 dollars cheaper than they would have payed). 

Would love to connect. It seems we are both starting to look in markets that are relatively close and I am sure we could bounce ideas off each other. 

Hi Lamar, 

Would love to get involved as well.