All Forum Posts by: Kyle Camerlinck

Good morning Pearce,

I love the idea, and I think you are definitely better off doing short-term if you are interested in single-family. It will be impossible to find something cash-flowing as an annual rental in that price range and asset class. I think it is not impossible to find something in that price range, but you will most likely be north of 500k. I am a local broker in Jupiter and specialize in investment properties. If you would like some further advice or direction I would love to help you out! 

I agree with Gladys! It's really all up to you and what works best for your current situation. It would be worth asking the current tenant if they would be interested in staying even with a higher rent. If the tenant will stay and the headaches from the HOA are not too much then I would keep it. If the HOA is causing that much of a headache then I would not let that ruin your experience in real estate investing. Make it a process you enjoy and try to keep it fun! As far as the market, I would not make your decision on timing the market. Try to focus on the time, and effort portion of the decision. I am a local real estate agent in Palm Beach if you would like to discuss further. I'd also be able to give you a valuation on your property if you want to crunch some numbers to helP make your decision. My cell is (561) 371-5143

Hi Britney,

I am biased because I live in Jupiter, but I would say just about any neighborhood in Jupiter. We have saw some of the least amount of impact relative to the rest of the country in 2020 and 2008 just because the demand is so high here. The best opinion I can give is to try and find the best house in the best neighborhood. It depends on if you want to go the str or ltr route because if you did str you probably want no hoa. In that case I would recommend looking near Tequesta.

Hi Britney,

I am a local investor in west palm beach and a real estate broker if you need help finding your next investment in the area! The advice would depend on your main goals with your investment. South Florida is amazing for appreciation but I know in most areas especially Palm Beach, you will see little to no cash flow. If you understand that and are hoping to just offset some of your expenses in owning a home then I see no greater place for appreciation and wealth building other than South Florida.

Hi Kyle,

I am a real estate agent in Jupiter. I recognized your name from the Discord community I was part of. I love watching your content. Anyways, airbnb is still pretty profitable down in South Florida. I  know a few people who have retired from a few different airbnbs down here in West Palm Beach. I personally do not think you can go wrong in any part of South Florida as long as the numbers work. Nowadays, renters are all about experience. I think living in the house for a year would be beneficial, too, because you would qualify for a lower downpayment, but you would also be able to get it set up yourself while you are living in it to save even more money. If you want to brainstorm together and get my thoughts feel free to give me a call! I am also a real estate agent based out of Jupiter so I can send you some local properties I think might be a good fit for you.

Is there any legal way to compensate someone without their real estate license for sending you a real estate deal (wholesale, flip, etc.)? There is an option to give equity, but I do not love that option in all cases. By the way, I am in Florida.

Thanks!

If you are finding good deals, there will not be a wrong time. One thing I like to do to mitigate risk when I flip is to have backup options. I find deals that are projected to make so much profit that if the market turns, I should be able to get out for breakeven or potential flips that could make sense as an alternative investment if things come down to it. For example, a flip that could work as a short-term rental or BRRR once it is renovated.

Absolutely. Almost all buyer's agents ask for pre-approval or POF before working with buyers. In this case, you are representing the buyer and seller, so you should do the same. Your time is valuable, and if the buyers are serious, they should have no issue and realize this is standard.

I think there are property types for every investor. Yes, rehabbing does add some "built-in" equity, but you also are losing out on cash flow due to vacancy in your home. Also, in order to rehab you need to have cash upfront which is hard for a lot of people to do. In your case, you have a long-term approach to investing, so you will be able to capture equity anyway. Like you said though, there are pros and cons to every strategy.

As an agent in Palm Beach, I have not seen any signs of the market slowing down. Towards the end of the year, things were a little slower, and buyers had some negotiation power, but I would say that was all seasonality, not necessarily the effect of interest rates. I say this because as the new year has hit, the market has been on absolute fire.