All Forum Posts by: Gabriel Amedee

$1200 a month being possible? Lol. Here's an idea of what rents in Miami are for a one bedroom. As a realtor I do not really like to identify neighborhoods as "good" and "bad" on public platforms but you're more than welcome to give me a call for an unfiltered description of each area. 

Also x2 to what @Antoine Martel said in terms of FHA most likely being your best bet if you want to house hack. Here are the loan limits for FHA. 

Finding multifamily property in "good" areas will typically cost you in Miami, so as long you as you are willing to pay then it is most definitely possible. Remember the more units you acquire the more likely you are to cover your mortgage but at the same time you will also need to be able to qualify for these high ticket properties. 

When you mean acquiring tenants in the summer I am assuming you mean short term rentals? If so, it is very plausible. My cousin has a fourplex that is constantly being rented on airbnb and it is not in the best of areas. Location has much to do with it of course but for the most part people are always visiting Miami, especially in the summer.

If you have any more questions or want an idea of what is currently on the market feel free to reach out man. Happy investing!

@Jay Hinrichs thank you for the information and in general for everything you've provided to this forum. I'll be sure to do so. 

Do you feel joining the advisory board of the planning department may prove advantageous? My father is a sponsor of one of the commissioners so the whole appointment process may be simpler for me than for most.

@Duriel Taylor I am no where near qualified to give you advice on this topic but I have the same aspiration as you do and what I have been doing is actually building relationships with small time builders. I've both invited them to events I've hosted or taken clients to some of their newly built homes all with the intention that they constantly see and recognize my face and eventually know my name. 

Next on my plan is to begin marketing for the acquisition of land, put the land I find under contract at a price my research proves to be profitable and I would consider assigning the contract to them for free in exchange to walk me through the entire process of the development. 

The only thing that has stopped me from moving forward with this plan is my lack of education in the development process, which I only blame myself for. I personally find it annoying when someone asks me for assistance in a subject and while speaking to them I find it obvious that they have never done some self teaching on their own. For this reason I want to be sure I do my own research on how to build a home from the ground up, from beginning to end before I start asking a busy businessman a bunch of tedious questions. 

Hope this provided some insight to someone if not yourself. Happy Investing!

I just use a regular As Is contract and then add an assignment of contract addendum. If you'd like more details feel free to reach out, always happy to help.

Looking to try a different approach for lead generation aside from Zillow/Realtor.com and was wondering if anyone has used this site before? Thanks in advance for any feedback related to agent lead generation. 

How much do you expect to get paid? 

Before I had a license I would pay anywhere from $500 for just an address and $1000 if you get me the contact. Paid after closing of course. 

Why not just wholesale the deal yourself if you're going to go this far into the analysis?

The books they offer here at biggerpockets will definitely help you out a ton and they have guides for both flips and rental properties so you can just purchase the one you want to focus on. I'd suggest learning how to analyze a deal on both sides of the spectrum so that if an opportunity arises you are knowledgeable enough to seize it.

Bankrate.com

There is always someone out there performing successfully in a niche that no one else is doing so well in. I'm assuming you are talking about condos that are not in areas that are not being inflated by foreign capital such as Brickell or Sunny Isles; these investors are geared more toward capital preservation so they're willing to pay much more for condos and will out price you on any property leaving the area with no deals.

I personally am not fond of condos as investments but they do have their pros and cons. If you have any more questions feel free to reach out !

You just don't want it bad enough. Can't think of any more of an explanation necessary. The fear of failing drags you more down than the passion for success. Not much we can do about it, the tools are all set for you and you are much more fortunate than people who have built empires before all this information was available. If with all this guidance you still feel discouraged then I'd say stick to your day job or hire one of those 19yr old life coaches on YouTube to maybe tell you how easy it is to become a millionaire to maybe help you get the ball rolling. Cheers