180k cash and no idea where to start (FL) advice please

[Christian Weber]

So as the title says

I have 80k cash and 100k HELOC on my house I can use and have no idea what to do next. Based in South florida and it seems everything is so highly priced and getting bought by cash investors.

I have no idea on what to do - most agents I have spoken to have zero idea on flips or investor properties, no idea on how to get properties off market or what a wholeseller is and get annoyed when I ask questions because im not a cash buyer looking for a 3/2 for their kids with the white picket fence. The few "wholeseller sites" I am on just relist MLS listings with a higher price

Not looking to be a hard money lender as the risk isnt worth it to me with that

If you were in my situation what would you suggest I do.

Thanks in advance

[Ronald Allen Barney]

You'll want to keep looking to build a "Core 4" team:  Agent, Contractor, Mortgage Lender, and Property Manager.  Starting out that may be difficult because a few too many professionals out there don't want to invest their time with first-time investors.  Keep plugging at it.  The agent should be investor-literate and if they only want to sell residential dream homes keep looking.  The contractor you will need for most purchases to make a property rent-ready, barring some that by luck come to you already in a ready state.  Mortgage lender you will build a relationship with over time so as not to have to start from square one every time you go to get funding.  PM I highly recommend even if you think you have the spare time to self-manage.  It's better to have a PM in place and ready for you to grow into needing one than to decide at a critical moment you've got more operational headaches than you can handle on your own.

Having potentially a $180k cash position puts you in a very good place to start straight into a fourplex+ for doors.  Finding the right deal until you have a good agent on your team will be challenging at first, but after you've closed a few doors you'll start to get a "nose" for it.  Some of the more successful investors I know work with an agent to find primarily off-market opportunities.  When they prospect for listing clients and find one, rather than go to the hassle of listing they can bring those sellers straight to you.

Be patient and persistent on team building and deal finding, and best of luck!