All Forum Posts by: Karl Hinkel

More Millionaires were made through real estate...

I can assure you, making a 5% to 7% cap rate and dealing with tenants is NOT a way to BECOME a Millionaire. It’s where investors who are already millionaires *might* park their money with a good property manager, to keep (diversify) their money. 

If you’re new to real estate, and want to be successful in South FL:

1) know where we are in the cycle and buy right, your money is made on the purchase, not the sale.  

2) know your neighborhood and values 

3) be thinking about an exit strategy, what’s your “make me move” price. 

(And this is coming from a buy and hold investor...)

4) and last, get a good return (aka, cap rate) for your holding period. 

Because, the South Florida market, sell prices fluctuate so wildly compared to relatively stable cash flow markets like the mid-west. 

Cap rate is very important, but here in S. FL, it can be swamped by price moves. 

Example. I bought a condo in Coral Springs for $35k, sold it a couple years later, no renovation, just paint, for over $100k. Now you can buy it for $85k to $90k, 2-3 years ago it was going for $45-$50k. 

The cap rate is important while you’re holding the property, but when it’s time to sell, making or losing $50K in 2 to 5 years time will make all the difference. 

You need to buy in the right year, use patience and negotiating skills to buy it right!

Hey everyone,

My name is Victor and i'm a wholesaler based out of the Tampa Bay area. I've been on the forum for a couple months now, reading and listening to podcasts and love what bigger pockets has to offer. I'm looking forward to meeting people who are eager to start investing in Real Estate like myself, so we can all help each other build our mini empires . I currently work for a company that wholesales properties all over south east and central Florida and my goal is to start investing in Multi-family units in Florida as well as the south east region of the United States. Feel free to reach out to me if you want to talk Real Estate!  

Palm Beach County Investors (or future investors)...

There was a lot of interest in a pretty casual meeting from investors and future investors, and we've had GREAT meetings... why not another? It will be free to attend (and no pitching), but being good patrons, so they let us to continue to use the space for free, I say we get a cup of coffee.

Gizzi's Coffee: 2275 S Federal Hwy, Delray Beach, FL 33483 (1pm-4pm)

So, anyone want to grab some afternoon coffee in Delray Beach... maybe people from Jupiter, Palm Beach Gardens, Lake Worth, Boyton Beach, Boca Raton, or West Palm? Maybe even Broward County people would like to show...

This meeting is open to anyone that would like to attend.

Also... in an attempt to try something new, I will be bringing in all of the books I have read and will have a "leave one, take one" policy so that everyone will have a chance to read a great book!

SO, DON'T FORGET TO BRING A BOOK!

And lastly, if you would like to be added to the email distribution of this meetup, please send me a message with your email address. Thank you everyone, and I will see you there!

miami fl duplex at 200k not so great neighborhood. Must search thoroughly.

Hello! 

Interested in brainstorming about investing? 

I am an 35yr old investor looking for like-minded people and would like to meet you for a coffee. 

What I can offer: 

- my experience as a buy and hold investor (26 units) 

- insight in the markets in Latin America and spain where I spent several years and in my home country Germany 

- a good time :-) 

Looking for:

- your experience, espacially with finding deals and raising capital

- general information about this area

I am also interested in vacational homes / AirBnB and mobile home parks. 

I am just visiting the US until july 28th and will be in Florida most of the time. If you are interested in meeting, please send me a message. 

Hispanohablantes muy bienvenidos! :-)

Hello, I'm Andrew a 32 year old yacht captain and fisherman from Miami now living in Boca Raton, Fl. I'm excited to start this journey in the REI world and have spent the last couple months absorbing as much info as possible. I have listened to every BP podcast from the last two years (changing the speed to 1.5x helped me breeze through that), purchased ebooks, and participated in some webinars. I try to evaluate two properties a day using the awesome BP calculators. I'm hungry and ready to dive in.

The 1st challenge: My wife would prefer a move in ready home in the Boca area since we have been renting the last two years (very cheaply BTW) I don’t want to tie up our capital and would prefer a smaller home where we can force appreciation through rehab or others means. I have little experience in RE but see the importance of approaching our first joint purchase financially as opposed to emotionally. 

I need some tips on strategy and persuasion. How do I get her onboard and is there a middle ground or compromise that might make the most sense given our scenario? Based on our market in Boca which is competitive and expensive to enter, what are some other options that you guys can recommend? Thanks in advance for everyone’s help and I look fwd to my involvement in the BP community. 

Hi Bigger Pockets! I got my feet wet on the forums here a few years back, but realized I had some big hurdles to overcome (i.e. get my financial house in order) before I could "get started". Now, I'm ready to dive in. 

My focus is on BRRRR/Buy & Hold in the outskirts of the Orlando Metro Area - specifically Clermont, Winter Garden, Apopka, Tavares, Eustis, and Leesburg. I have professional experience in construction and a ton of residential renovation contacts in the area, so I believe I have a leg-up on the rehab side.

I'm looking to connect with investors, investor-friendly realtors, lenders, and wholesalers in the area. I have yet to buy my first investment property, but plan to buy within the next 6 months.

Hello My name is Omar, I am new to real estate investing. I do a range of things from managing recording artist to graphic designing, AdWords and social media marketing. I got interested in real estate as a method to fund my musical projects, have more time for my family and the music business. I have learned so much in such a short period of time and more and more I have seen how investing is they way to financial freedom.

I am in the learning process and hoping to take action soon. I am currently in central Florida where I purchased my first home. I was raised in Miami where I would eventually like to invest as well. (Buy back the block)🤔. Hope to meet some influential people/mentors to help me along my journey.

My Goal from short to long term: Wholesale - Fix & Flip - Rental Property

Greetings all! 

I wanted to take a moment to say hello to the rest of my NEW FAMILY!!! But really--I do, even now as a newbie to these forums and real estate investing, feel like this Bigger Pockets community is a truly a family. So many dedicated and active members here contributing, educating, helping, and MAKING DEALS HAPPEN!! It's amazing and I feel both thrilled and privileged to be coming on board. @Brandon Turner and @Joshua Dorkin and all of the amazing guests/contributors, the podcast is amazing and I listen every day on my commute to work. I admire you all who work so passionately to make all of this the special place that it is! 

A little about me--my name is Brian Ton and I am from the beautiful (and HOT) sandy shores of West Palm Beach, Florida! I have a degree in Chemical Engineering and I currently work full time as a senior manager for a corporation down here, and I love what I do. I have had various avenues of exposure to the stock market, and I continue to manage three portfolios right at this point. However, like many of the rest of you, I stumbled on this little book called Rich Dad, Poor Dad and my entire outlook on life changed, and that was all it took to spark inspiration for me to take steps into the world of real estate--building the asset column, am I right? AM I RIGHT!??...lol...

On a more serious note, I am a serious investor entering the market in South Florida, and I am currently taking actions to prepare for making a first deal! My initial strategy for a period of 1-3 years will be primarily centered on growing cash through flips and rental properties on small SFH or multifamily. Safe to say that it is an extremely competitive market down here. Nonetheless, the strategies that I am picking up on finding and MAKING deals thanks to all of you guys is guiding me along the way nicely. 

I have learned a tremendous amount in a small period of time thanks to this amazing community and I hope to network with any and all you as I embark on this journey. It is sure to be an amazing ride. 

Cheers, fam!

Hello Everyone!

My name is Leo and I just started with this new REI adventure last month. I live in Pembroke Pines, FL and am looking forward to network with like-minded people in the South Florida area. I've been a Computer Programmer for nearly 15 years and am really looking forward to this new exciting opportunity. The BP podcast has been a part of my daily ritual as of late; it has permanently replaced my Pandora playlist! Learning so much from it and have taken some baby steps to get the ball rolling! I am focusing on wholesaling for now with hopes and optimism that in the next 6-12 months I'll be able to fund my first flip/rehab.

All the best to everyone!