All Forum Posts by: Gabriel Starms

Most buyers I come across see it as a red flag if they don't own the land with the build. At anytime the owner of the land could raise rents and that will often leave buyers with a bit of uncertainty on their projections. 

Great, we are wholesaling as priority but also open to creative financing strategies if they make sense. 

Thank you and good point we'll take a deep dive into it to see if there are any violations and market it as such, also is there a way to filter for just specific zoned land? or would you think that is irrelevant?  

The property for comp 1 is actually in South Miami, either way lets get in contact we may be able to work together here or if not this opportunity there's plenty out there to collaborate on.

Thanks for your response @Adam Schooley

Hey BP fam! 

After a week or so of prospecting I've came across a few good leads out of thousands. However, some of the opportunities have unique situations that make it hard for me to analyze, and would love your guys help on if you have any tips for maneuvering these specific scenarios. 

Comp 1. Homeowner says this property is a 4/2 and has a in law suite in the back that is a 2/1. However, property appraiser only has the home listed as a 3/1 with no in law suite. So I'm assuming these were additions made without permits. My question would be, due to the correct number of bedrooms and bathrooms not being on the property appraiser how would this affect your numbers. Would you run comparable as if it were only a 3/1 or run numbers based off of what's actually in the home as opposed to what's on public records. 

Comp 2. Small 2/1 property is a complete tear down. However, the zoning is actually zoned for commercial use. A builder could come in and build something significant here due to the lot size. How exactly would you run comps here? Not too sure how to filter comps on how the land is zoned. 

Thank for your help guys. Also may be open to partnering up on some of these deals if you're a local investor in Miami. 

Would love a partner that meets one of the following

-- Can JV a deal in Miami (provides cash buyer) for comp 1

--  real estate developer in Miami to assist in the tear down/rebuild for comp 2

Don't hesitate to let me know your thoughts, good or bad. Fire away 

Thanks guys! 

Looking forward to growing with you all @Account Closed

 Nice! @Rebecca Bradley Have you done JV deals before, or any deals in the Miami/Broward market?

As someone who's worked with many contractors, this is a for sure way of making enemies with contractors as opposed to them becoming your allies/friends

Contractors will despise going out there on site knowing that you aren't the decision maker and have no plans of actually conducting the work he's giving you the bid for. (Keep in mind they get paid to do the work, not to give out bids)

I'd recommend to jot down some common repairs you'll come across. [Bathroom remodel, drywall, flooring, etc] Ask them to give you a ball park over the phone price per sq ft for each of these projects and that you wont hold him to that number just wanted a general idea. For transparency, let him know you and your partners will be coming across 10+ properties a month that you'll be running rehab numbers for and will be using them for future projects but want to have a ball park number as opposed to them having to have an on site bid each time. 

^ This strategy would be well suited for small GC's as they would be more willing to give out numbers over the phone or can go to each individual trade specialist if you have the extra time. 

Hey Jose! Let's partner, I see that you're based in Miami, I'm here in Broward. My team and I have a current focus on wholesaling. Also work with investor friendly agents in the area as well as contractors. Let me know what your idea or goal is and lets work

Hey Jesse! 

Congrats on the house hack, I'm also dipping my toes into the wholesaling niche as well only about a week in. From a newbie perspective, overall I'd just recommend immersing yourself in wholesaling content, understand how to run comps, how to pull lists, and ultimately stay consistent. For best results I'd look into setting aside some capital for some software although you don't necessarily need money to begin it will give you an accelerated timeline on the likelihood of you finding a deal! 

Best of luck, I'm in Fort Lauderdale but feel free to reach out to me if you have any questions. If after you research and DO decide to go all in, lets hold each other accountable. 

My name is Gabe, I'm a wholesaler specializing in the Broward-Miami area. Would love to connect with other like minded individuals in the space to learn more on how we could be an asset to each other. Whether you are buying, selling, doing short term rentals or in the property management business lets connect!  

You all will see me very active on these forums moving forward, and I'm glad to be apart of the Bigger Pockets community. If anyone in these markets has tips, insight, needs help or just wants to chat don't hesitate to message me and let's become allies.