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Updated about 4 years ago on . Most recent reply

User Stats

28
Posts
6
Votes
Wryland Reed
  • New to Real Estate
  • Miami Beach, FL
6
Votes |
28
Posts

Need help with wholesale lead I have in Florida

Wryland Reed
  • New to Real Estate
  • Miami Beach, FL
Posted
I was door knocking and found a 2100 sq ft 4 bedroom home that will sell for around $550k but is not listed. The house can be rented for $3000/mo, and the back garage can be converted into air b&b for $2000/mo additional income for a total of $5000/mo.

The renovation to reach this rental income was estimated to be about $25,000 by my general contractor/real estate investor in the area.

If you have experience in Miami Dade county wholesaling leads please let me know if you have a contract and/or can help me wholesale this lead.

Most Popular Reply

User Stats

236
Posts
99
Votes
Jack V. Ospina
  • Real Estate Broker
  • Miami, FL
99
Votes |
236
Posts
Jack V. Ospina
  • Real Estate Broker
  • Miami, FL
Replied

@Wryland Reed Before you start promoting this as $5000 per month rental income I would first verify that the garage can be converted within the city the property is located in. Every municipality is different.  Not only that I would also verify AirBnbs are allowed in the particular neighborhood. I've seen investors promote incorrect information and eventually get dragged into court by the buyer. Good luck!

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