All Forum Posts by: Jerryian Francois

 I’m not in a rush so I am using time as my leverage but I do want to have it sold by the end of the year so going into next year I can be a buyer but I haven’t thought about marketing it as turnkey that’s another great idea 💡!

HOW ARE WE DOING BIGGER POCKETS FAMILY! QUICK UPDATE HERE ! So it’s been about 3 months since we put our duplex on the market and we have gotten no offers. The market here in miami is pretty much slow with all the uncertainty going on we have had multiple open houses with multiple no shows. We are priced right compared to what’s selling around the area so it’s a matter of just waiting this out. All units are still leased out so there’s no sense of urgency to sell so until than we’re sitting tight and holding steady until a buyer comes along ! Are you guys experiencing the same thing in your market ???

WHATS GOING ON BIGGER POCKETS FAMILY!  just here to give a quick update and seek a little help from you guys !

Me and my wife have decided to sell our first duplex deal after 4 years of holding it we have built over 250k of equity wow ! Despite the equity We also want to take advantage of tax advantages we did stay in the property for 2 years !  So after speaking with our cpa we have decided now will be the time to sell and avoid capital gains tax ! our first baby is officially on the market and i have mix emotions but more happy because im excited for the next chapter !

We are looking to get into small multifamily (12-20 units ) once the sell is final (speaking it into existence! ) the education process has started with me regarding the commercial side of things !  So any extra pointers or tips , books, would be great guys 

I would love to connect and build relationships! with some commercial brokers, property management  any expert help is an advantage ! Although the sell isn’t final i would love to start and build relationships !!!

We currently stay in Miami and prices here are very expensive i do want to stay in my backyard but prices are extreme  so i would love to explore some out of state markets ! 

All in all im glad i have the BP community and BP in general ! I’m already just trying to learn so much it’s exciting and im looking forward to this new chapter ! 

Thanks in advance !!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Miami.

Purchase price: $415,000
Cash invested: $90,000

MY FIRST RENTAL PROPERTY !! BEAUTIFUL DUPLEX IN THE HEART OF MIAMI THIS PROPERTY IS SO UNIQUE IT HAS A AUD 1/1 ON THE SIDE THAT BRINGS IN AN EXTRA 1100 ! 2/1 THAT BRINGS IN 2100, AND A 1/1 THAT BRING IN 1600 ! I GOT THIS PROPERTY IN 2021 FOR 415,000 PUTTING 15% DOWN . IT IS NOW THE ENDING OF 2024 AND THIS SAME PROPERTY HAS GROWN 45% ITS HOME VALUE IS NOW 602,012 AS OF 12/27/2024 FROM SINCE I PURCHASED IT !! THATS OVER 200K IN EQUITY IN 3 YRS

What made you interested in investing in this type of deal?

ONE OF THE REASONS WHY I WAS INTERESTED IN THIS PROPERTY WAS I LITERALLY GREW UP AROUND THIS PARTICULAR NEIGHBORHOOD SO IT WAS A FULL CIRCLE MOMENT FOR ME BESIDE IT BEING A GREAT DEAL I WAS VERY FAMILIAR AND COMFORTABLE WITH THE AREA !.

How did you find this deal and how did you negotiate it?

I FOUND THIS DEAL THROUGH WORD OF MOUTH I WAS TELLING DIFFERENT PEOPLE IN MY CIRCLE I WAS READY TO BUY AND LONG BEHOLD A BUDDY OF MINES WHO IS A REALTOR PRESENTED ME THE DEAL AND LET ME MEET THE OWNER WE HAD A GREAT CONVERSATION AS HE TOURED THE PROPERTY WITH ME HE EXPLAINED HE HAD HIGHER OFFERS BUT BECAUSE HE SEE IM A YOUNG GUY DOING THE RIGHT THING HE REALLY WANTED TO SELL IT TO ME AND THE REST IS HISTORY !

How did you finance this deal?

SO I PUT DOWN 15 PERCENT ! FROM CASH I SAVED UP FROM FLIPPING HOUSES

How did you add value to the deal?

I FIXED THE ROOF AND CHANGED SOME DOORS THE PROPERTY WAS BROUGHT IN GOOD SHAPE !