All Forum Posts by: Saba Nader

Good day everyone, 

I'm a 34 year old entrepreneur and accredited investor, looking to start building wealth through acquisition of residential properties. 

My real estate knowledge is limited to a purchase of my primary SFH, facilitating a full remodel side-by-side with a GC, as well as countless hours of BiggerPockets educational material.

As far as my investing strategy, I'd like to focus on BRRRR. LTR if CoC is at least 10%. Otherwise, STR. Rinse, repeat and scale.

Down the road, I'd like to shift focus to multifamily 5+ units but as a newbie don't feel comfortable investing $1M+ of my funds in the same building.

Currently, my main challenges are identifying a market and finding a mentor:

-Market: It seems to be rather difficult to find cash-flowing LTR properties in the South Florida market, so most likely I'd have to focus on long-distance investing or local and STR. I'm open to both as long as it meets my requirements.

-Mentor: I'd like to find or perhaps even hire a seasoned RE investor to mentor me through my first few properties as well as help establish a team. The good news is that I love constructive feedback, have a healthy risk-tolerance, and I've allocated roughly $800K liquid cash to leverage and purchase properties.

I quickly realize that its a networking business, so I'm looking forward to connecting with professionals and experienced investors locally and online. :)

Best,

Denys

Quote from @Saba Nader:

Quote from @Francisco Leal:

Hey everyone!

I'm thrilled to join the Bigger Pockets family. Currently based in Madrid, Spain, I'm looking to invest in real estate in Miami. I'm quite disillusioned with the situation here in Spain, and here are a few reasons why:

- We have a socialist government keen on hiking taxes and undermining businesses.

- We're grappling with the social phenomenon of "squatters", individuals who don't pay rent and the government allows them to live in your property rent-free for 24 months before eviction.

- Spain's population pyramid is a mess, with sky-high taxes and increasing insecurity in many areas.

- The rental yields in premium zones of central Madrid barely reach 3.5% - 5% gross due to government policies, such as the rental index imposed by the socialist government.

For these reasons and many more, I'm considering investing in Miami. I've noticed that in Miami, gross rental yields can reach 10%, with greater legal certainty and just an 8-hour direct flight from Madrid.

My plan is to enter the Miami real estate market in cash, demanding a good discount. What do you think of this plan? What warnings could you give me when investing? I'm willing to travel to Miami once or twice a year and manage the properties from Spain, hiring a good property manager to address issues, find new tenants, manage payments, and clean the property for new tenants. Do you think this plan could work?

Looking forward to your opinions and advice!

 Hi Fransisco,

Welcome to Miami! It's no secret that Southern Florida's real estate as a whole has finally got the attention it deserves, and Miami is leading that charge. Here are a few points to the comments you made:
- no rent control, rent prices have jumped drastically year over year
- no squatters, Gov Desantis just signed an anti squatter law (House Bill 621)
- high US interest rates, cash buyers have substantial leverage in negotiation as interest rates have kept domestic buyers at bay
- no signs of slowing down, everywhere you look you will see world-class developments in the works 

let me know if you'd like to discuss further

Hello,

Thank you for welcoming me and for sharing your insights! Your comments are music to my ears, especially the news about the "Anti-squatter" law.

Just as I was writing this post, I heard on the news about a situation in Madrid, where a neighbor has been dealing with a delinquent tenant for 4 years without being able to evict them. It's really frustrating to see how these situations are being exploited. 

Also, I appreciate your willingness to share knowledge. If it's not too much trouble, I would like to know what net returns can be obtained in Brickell or Downtown with one-bedroom apartments.

Thank you again for your help!

Hey everyone!

I'm thrilled to join the Bigger Pockets family. Currently based in Madrid, Spain, I'm looking to invest in real estate in Miami. I'm quite disillusioned with the situation here in Spain, and here are a few reasons why:

- We have a socialist government keen on hiking taxes and undermining businesses.

- We're grappling with the social phenomenon of "squatters", individuals who don't pay rent and the government allows them to live in your property rent-free for 24 months before eviction.

- Spain's population pyramid is a mess, with sky-high taxes and increasing insecurity in many areas.

- The rental yields in premium zones of central Madrid barely reach 3.5% - 5% gross due to government policies, such as the rental index imposed by the socialist government.

For these reasons and many more, I'm considering investing in Miami. I've noticed that in Miami, gross rental yields can reach 10%, with greater legal certainty and just an 8-hour direct flight from Madrid.

My plan is to enter the Miami real estate market in cash, demanding a good discount. What do you think of this plan? What warnings could you give me when investing? I'm willing to travel to Miami once or twice a year and manage the properties from Spain, hiring a good property manager to address issues, find new tenants, manage payments, and clean the property for new tenants. Do you think this plan could work?

Looking forward to your opinions and advice!

Hello, my husband and I just starting our investing journey in real estate, we would like to connect with experts in the str industry. We would love to buy a property in Boca Raton, I know there are strict regulations when it comes to STR, does anyone have experience with it?

Hi Bigger Pockets community! I purchased a triplex in Fort Lauderdale, FL. in 2020 and house-hacked for a few years while renting the other two units on annual leases. 

With the addition of 2 kiddos, my family has recently relocated back to MA. I am managing the triplex remotely and have come to bigger pockets to look for tips and tricks.

What have been the main challenges that anyone else who manages long-term rentals remotely have come across? I had the luxury of filling the units while still in FL. and am only a month in. I haven't had to turnover the units yet :| 

Hey! I have a friend looking to house hack in Fort Lauderdale area. Is it possible and what expectations should he have? 

He is graduating soon and planning to get started in real estate. 

Let me know what advice you have!