All Forum Posts by: John-Paul Micek

Congrats on your first flip! East Boca is a great up and coming area.

Hi Farhad,

I am located in Fort Lauderdale. Although I and my partner are agents, that is only a matter of practicality. We operate exclusively as real estate investors both for our own projects and development projects with investment partners. Our company, Restore 818 provides all you need to acquire, rehab and manage rental properties in South Florida. We also partner with select investors on our designer renovations as short-term investments. 

Feel free to check our our site for more info; www.Restore818.com or shoot me an email and we can schedule a phone meeting.  

Have a Realtor pull comps on properties rented in your neighborhood grid in the last 24-months with the same bed/bath configuration as your house. Make sure they include the DOM (days on market) for all properties. Look at the DOM for properties in similar condition to yours. That will give you a good basic understanding of both demand and relative pricing in your area.

It's dangerous to compare today's market to "historical data" without factoring a number of macro-economic conditions; the most important of which is inflation. Think about it, especially when the Fed has been printing money like a drunken counterfeiter. 38% inflation since 2003 is a serious factor, one that must be considered and used to overlay historical data. Of course other micro-economic factors must be overplayed as well. As the great economist Fredrick Hayek said "All economic activity is carried out through time. Every individual economic process occupies a certain time, and all linkages between economic processes necessarily involve longer or shorter periods of time."