Purchase price: $390,000 Cash invested: $87,000 Located in the vibrant and rapidly appreciating neighborhood of West Little River in Miami, FL, this single-family residence presents an exceptional fix-and-flip opportunity.

At the time, my cash-on-cash return was around 6.1%.

@Matt Smith generally speaking it’s a combination of rising interest rates which have caused cap rates to increase (thus wiping out equity), debt is resetting at higher rates, rising opex costs due to inflation and stagnant or softening of rents due to an increase of supply.

Basically you want to get your name out there as a buyer.

Are there meetups, BP members, Facebook groups, or agent connections you’d recommend checking out?

A cashout refinance will leave equity in the property...most cashouts cap at 75-80% LTV (leaving 20-25% equity in the property). 

If/when you do one, just use Legal Zoom, attornies are expensive and unnecessary for this easy entity.It's tough starting out in Cali for a new investor, buying a turn-key STR is going to be so expensive that you will have trouble with any positive cash-flow.

A heloc is most likely not a good option - I recommend either a business partner or figure out a way to take the monies earned from those flips to roll them into the next deal.

Feel free to reach out and we can discuss.

Plain and simple if tenants move out you should be able to raise rents to what you feel fair market rent should be being that the next set of occupants can decide if it makes sense for them or not.