South Florida Investing

[Tim Kanak]

I'm a new investor (zero deals under my belt) and am looking to get rolling with my real estate investing business. I have a real estate license and a FL state roofing license, plus have plenty of contacts in property management and in different construction fields in South Florida - however, I am finding it difficult even with access to the MLS and using LoopNet to find any deals worth their salt from Monroe County up to Broward County.

I'm lookin to buy and hold invest and prefer a tri or quad plex multi-family.  I'm starting to think I may need to change markets to the Tampa / St. Pete area or up to Jacksonville in order to find deals.

Does anyone have any advice or experience to help a newbie out?

Thanks!!!

[Adam Scheetz]

Hey Tim, 

Welcome to the newbie Club! I've only bought, rented (2 yrs), and sold one property. I'm hopefully moving to Jacksonville later this year and have been looking extensively all over FL, especially in the J-Ville area. Everything from Low-Income, Middle-Class, Suburbs, MFH, Wholesale, and Foreclosures. Good deals are there, just not terribly plentiful. I too was looking for buy & hold specifically in Multi-Family. That being said, after listening to over 60 podcasts starting from the beginning of the BP Podcast and still working my way up through the years, I've noticed a trend among most guests that made me redo my plan [Which I've posted on a prior Forum post]. First, preparation is crucial because money is made when you buy. Got to get the deal done right and within preset margins from the start. Those margins are a byproduct of educating myself which is an ongoing process. And Second, leveraging your contacts and relationships with people in the areas you want are very important. I trust local realtors far more than the internet or sellers. I've gotten to where I'm cold calling brokers, giving them my story, telling them my parameters and what I am trying to accomplish, and getting on their email bang lists. It seems as though the good deals originate from these brokers and networking more than MLS, Redfin, Trulia, Craigslist, ETC. I look forward to following this post and hopefully seeing you finding success in a few markets that workout for you.

Best of Luck,

Adam Scheetz