All Forum Posts by: Walter A. Ferman

Hello BP family! I am getting into Airbnb Arbitrage in Miami. I been having analysis paralysis for a while now, I have been scared because I have these random thoughts that I don’t know where to start and what I should do next. I’d like to know any tips you guys might know and have. Anything I should know and do that nobody talks about and what is key to being successful in this business?

I know I just asked for too much, my apologies. I just really want to get into Airbnb with my mind at ease.

Thank you in advanced BP!

Hello everyone!

My name is Walter. I am in Miami, FL. Seeking to start and grow a real estate portfolio in Orlando, FL.

I have been in virtual meetup groups unfortunately I have yet not found a investor who invests in the Orlando market.

Any recommendations to finding mentorship or joining a group that I may potentially team up with (contribute) too although I live in Miami?

@Brian Napierala Will do! Thank you for your response.

Hi my name is Walter. I am new to investing into rental properties. I am dedicated to buying SFR and/or up to 4 unit properties that cash flow, as we all look for when it comes to rentals.

I reside in Miami, Fl but have my eyes in the Orlando FL market. I have dedicated my time at one point to property managing, leasing consultant, Maintenance, birddog, wholesaling, and crunching up lots of numbers on Zillow, Redfin, Loopnet etc.. for self educational purposes and really just getting the time and practice in to sharpen up my skills.  

Since being new to this, lenders I have had conversations with, all tell me I need to have work history, in order to purchase properties. Now, I am no expert but I know that there are loop holes around that. Work history is what I lack in. Credit is great and I would prefer OPM. Any advice, guidance on what to focus on at the moment in order for me to go on to the next step and acquire my first property? Should I keep looking at deals if I come across a smoking deal do I present it to a investor or a loan officer and see if i can get pre approved, what do you guys think? 

Thank you!

-Walter

When finding a property to wholesale, do I have to hire a realtor to help me with contracts or can i obtain these contracts and do it myself directly with the seller and buyer?

@Mack Benson Thank you! Indeed super helpful. I’ll make sure to run my numbers and purchase based on the numbers of the property and not just the actual property itself.

@Mack Benson may i ask why I shouldn’t use a agent? Currently I have one sending me listings.

Thank you @Ryan Friess I appreciate your response and information. It was very helpful.

Thank you @Brenden Mitchum definitely did help me. I will look at the requirements in my county before I take any further steps. Thank you!

Any rookie mistakes to avoid while purchasing first rental property?