All Forum Posts by: Timothy Lewis

Miami is still HOT

Hello Grant,

I'm an out of state investor living in Miami. I bought a property with them earlier this year. Before I did, I flew up to check out their facility. I was super impressed with their organization, employee staffing, and professionalism. I would say do your own due diligence as well but you wont have any problems with this company. Call and talk to Mark Hart. He will get you acclimated and all set up.

@Gabriel Amedee I would love to be apart of this!

I CAN'T WAIT!

To be completely honest, not much. A lot of showings have been virtual so its been great

@Joaquin M Dugan Jr No problem brother. I also own properties in the the Atlanta and South Florida markets

@Randy Galliani it sounds like you started the flip with the Hard Money Lender and now need extra funds to complete the project? If this the case, you can offer your family member similar terms as a hard money lender. Give them 2-4% points up front as well as interest on the money they lend you. I would give them at least 8%-10% but you can go as high as you want. The interest and principle can be paid in a ballon payment after the flip sells or you can make interest/principle payments monthly. If this isn't the situation that you're in, I'm sorry for misunderstanding.

Welcome Joaquin. As in any new market: DO YOUR RESEARCH! I'm also an out of state investor that has been in the Memphis market for about a year. I've been able to complete 1 flip and purchased 1 duplex for a buy and hold. I would recommend checking out David Greene's book Long Distance Real Estate Investing. I followed his formula and it worked out very well. Let me know if you have any other questions 

Tim

Have you considered house hacking as your entry point in real estate? Great way to learn with reduced risk.

I too am in the same situation. I'm in Miami looking for the same thing. Luckily Miami is filled with in law suites. Both legal and....not so legal lol. So be careful. Broward county has cheaper price point properties if that's not too far for you.