All Forum Posts by: Sebastian Giraldo

At my stomping grounds South FL. It boils down to if it does or does not have utilities electrical meter from Florida Power and Light. Easier that way because if FPL installs a meter that means it coincides with the cities property appraiser and its primary use for that specific site.

@Florencia Cafure

My traditional banking lender is great and they have a program in which they offer 2% off in interest for certain areas in a map they provide. This is so that the bank can have more loans in lower income areas. 

Hello @Jacopo Iasiello

I see you're a licensed realtor. I've used the tool IMAPP and it has lis penden and other filters to garnish data. I am also in Miami lets connect. 

@Jonathan Perez im in miami as well. Also very passionate on multifamily. I encourage it to all my clients and have switched some from condos to them. Thanks for the MFM insight. Lets connect

I think you may be trying to run before you walk. Think about finding a good deal. Perhaps an off-market deal where you can bring in cashflow.Build relationships and a good feel for property management, renovations, tenants, etc. Then with more income, better foundation and more savings you go into something you can dominate. 

In this meet and greet with Christian Bauman we will share tips, info, advice, and feedback on how to grow or start your Mid Term Rental occupancy.

This event is for you if you:

-Currently own property and do long-term rentals but would like to increase your operating income through Mid-Term Rentals.

-Currently doing STR but no longer want to manage the day-to-day activities or need to find a way to comply with local ordinances.

-Looking to get started in rental arbitrage and having trouble finding landlords who are willing to rent to you for vacation rentals.

-Currently doing Mid-Term Rentals and looking to improve/grow your business.

-You want more freedom and flexibility to do the things you love while also earning a higher income.

Contact the organizers Sebastian Giraldo (786) 444-8006 or Patty Jaspe (786) 339-7323 for more info

About our sponsor:
Hopper is a rapidly expanding travel APP, serving over 90+ million users with exclusive deals on flights, hotels, car rentals, and now, vacation rentals. Property managers can effortlessly list their properties on Hopper through direct integration with their Property Management System (PMS) or by using our automated property build tool. To discover how you can enhance your property's visibility and increase reservations, please get in touch with ERION DEDJA your Hopper rep.

Hey @Shai Yona, while locals say prices are too high out-of-state investors keep capitalizing! It baffles me because locals are soo used to this wonderful city right beneath them that they pass up on opportunities! Anyway I can only imagine this market will burst once rates drop as we've appreciated 10% YoY on "higher" interest rate environment.

My 2 cents on your acquisition: Miami and Broward have many upcoming developments and it helps to know where they are being developed, as we all know, location is #1 and it helps being in the path of progression and gentrification. Also zoning, exit strategies, and market value rentals are helpful in knowing since a major part of making sense of the numbers is bringing all the units up to market value rental income. Specially on large 3/2 units currently bringing in about $3,500. Also greatly important are quality contractors at great prices who won't disappear with your 50% deposit. I abide by the previous on my acquisition and those of my investors. 

Hello @Daniella Rodriguez, currently the general state of Miami STR is that it is overly saturated and properties are being either sold or rented MTR or STR for much lower than expected. The listings that are occupied are those that debt expenses and or carrying costs can go as low the market requires in order to get rented.

Now, that does not mean you CANNOT perform well. There are exceptions. Such as homes that have character and set themselves apart. Those that provide a memorable experience OR outstanding location, meaning walking to restaurants or bars. 

Regardless, if you can weather the storm the good times will come back and your listing will be fully developed with reviews etc. These are typical market cycles. You may want to sit one out with MTR or rent long term in the mean time. 

@Daylen Fiallo Hopefully they do indeed! These sellers are still in on cloud 9. I talk to them every day on my round of cold calls. Its very irrational. 

@Jonathan Smith I think the future is bright if we/ve maintained our pace in a high interest rate environment. Like someone else here said. I firmly believe the time is now while demand is relatively low. We still get outbidded with multiple offers all the time. 

@Hassan Brown Miami is going to blast off if and when interest rates drop once inflation is under control. It currently has 10% YoY while other markets have begun to cool off and some have gone into the red territory. 

Good luck down here. Our lender who is an LO with a regional bank has a 4% interest rate program for up and coming areas with lower incomes when its your primary and 4.375% when its investment. Feel free to connect for more info!