All Forum Posts by: Karl Hinkel

Hi @Karl Hinkel . Thanks for reaching out! I need a contractor quite a bit for my client's properties. And right now, I am also looking for one for myself. I have a property that might need rehab (hopefully just a little bit of work though, lol.) I will know more soon. Would love to have a solid list of them ready to go!

From the property owners I am speaking to sellign their place they are quoting 70-90% occupancy rate, on some pretty nice/updated waterfront homes.  Is this reasonable to assume these #s?  From my research I believe this to be the case.  My biggest hurdle now is the insurance.  Some of the stilt homes are so far above the water, flood insurance doesnt seem necessary and the newer homes with newers roofs and impact windows should protect me.  But will the bank be okay with that assuming I'll have to finance?  What other insurances should I consider?  Renter insurance?  Costs?

Maxwell,

I'd say it's not worth it just for MLS access.

1, you have to take a 40+ hour course and pass a test. Assuming you pass on your first try (in FL only about 40% of people do) that’s maybe 50 hours of your time, plus test and course fees. (Between your time/course/book and test fees maybe $500-600)

2. You don't magically access the MLS once you pass the test. You must join your local realtor association. (In Miami it's about $900/year).

3. In Fl you need a broker to work under as a sales associate. You can become a broker after 2 years and another course/test.

4. You must do recurrent learning and pay to keep your license current.

So, unless you want to work in Real Estate, I'd say no. You'll spend a lot of time and money that you can get for free from someone who is already an agent. If you (or anyone else) want any info off the MLS in Miami, let me know. I'm here to help.

Would love to work together on my properties and my clients' properties. 

I found my way to these forums from Joe Rogan's podcast.

One day he was interviewing Peter Schiff who pretty gave me my first lesson in economics. I've had the class in high school but it was of no interest to me. But when this guy comes on the podcast saying how the economy will crash, it made a lot of sense to me.

I ended up buying his book that explains how an economy works. I learned that there are competing theories on how economies work which are our mainstream Keynesian versus Peter's Austrian theory. From there I learned more about how to save money, investing in stocks, and finally investing in real estate.

Even Alan Greenspan admitted his ideology was flawed and he was the main finance guy for the U.S. government. I live in Miami and most people I know do not make a lot of money. People work and can barely pay for their rent down here. I know someone who has a master's degree and gets paid $13 an hour.

The only job that you can get into relatively easily without having a lot of money is being professional in the medical field. They are the only ones who can afford anything. But I think there will be another bubble, and the question is how big will the burst be and how much it will affect?

If you follow Peter Schiff's reasoning, he believes it's going to be massive. That there will be a currency crisis and there will be many kinds of bubbles popping from real estate, student loans, and the healthcare field. Now on his podcasts he kind of "covers" himself by saying he "believes" and "if I'm right" so he isn't 100% on the line.

But I do agree that just because we currently have been the global world standard for currency reserve with our U.S. dollar, doesn't mean we're permanently going to be like that. With China's PPP already outpacing us and their GDP to outdo us not too long from now and their much better debt to GDP ratio, it does not sound crazy to me that one day we aren't going to be the big guys in the world anymore with everyone trading in U.S. dollars.

These thoughts did go pretty meta and look at things far above and outside the American real estate market, but if we have another crash then people may start thinking about putting their faith into another currency that isn't American and this would definitely affect the real estate market here.

Man, I just joined this forum today as I'm learning real estate investing but when I saw this topic, this is something that has been on my mind for a few weeks now. So, this is my viewpoint on that matter so far. But I'm still trying to learn a lot and I've been learning accounting and economics to try to figure out what is good info and bad info.

thanks Karl for welcoming me!!!!! Can you tell me what days are those meetings I would Love to be in attendance 

Hello, I want to buy properties at the Broward County or Miami Dade auction websites. Both sites make it clear they do not insure the property is free of liens, mortgages and other encumbrances.

How do I make sure that upon purchasing the property that I am not subject to all sorts of hidden burdens that were formerly the responsibility of the previous owner?

Hi guys, 

I'm looking for a property management company in Coral Springs. Would appreciate any recommendations from folks who have invested in properties in Coral Springs, FL. 

As you know the city of coral springs can be a little strict about code violations - so would love to find a recommended property management company that has experience in coral springs already. 

Thank you for your help !