New Member Introduction Boca Raton / Fort Lauderdale Area

[Hugo Jimenez]

I accidentally posted this in Commercial Real estate before I found the New Member Introduction Section.  Re-posting.

Hi fellow Bigger Pocket members, newbie investor here living in Boca Raton, Florida. I’ve been a business owner for all of my career and currently own 3 businesses all related to volleyball...I consider myself very fortunate to be able to work in something I am passionate about. That being said, I have always been oddly obsessed with Real Estate and am looking to get into it. Specifically I really like the multi-family space.  I am looking to invest in an area that is drivable in an hour so that I can be involved and learn the business hands on.  

I am looking for a great property management company to help guide me as I get started. I have a good amount of start up capital coming from a cash out refi I am going to be doing with a commercial property (13,713 sq ft Industrial in Pompano Beach) that I have for my business.  Ideally I would like to get into buy and hold multifamily with the goal of refinancing and growing my portfolio.  I have been amazed at the accumulation of wealth from an industrial property I purchased for my business and am very attracted to the multi-family space because of the ability to spread out any vacancy loss as well as add value through improvements and good management.

So basically I am looking for:

1)Suggestions on property management companies.

2)Any potential leads on good buys in my area (Palm Beach, Broward, or North Dade County).

3)Any advice from professionals working in my area. I am new but am definitely no stranger to hard work and am willing to add value in any way possible to people willing to help me as I start this journey.

4)Specifically advise on whether to start in 5+ (commercial) multi-family or 4 or less (residential).  The lending terms for residential are extremely attractive to me but I also see the benefit of more doors under the same roof.

5)Advise on whether it is a good idea for me to invest locally knowing this is a market with more investors.

Thank you so much in advance. I have been so impressed by the community that Joshua Dorkin has created here. I’ve always believed that the more you can give the more you get out of life and have always done what I can to help others...this community exemplifies that and I feel very fortunate to have found this site and podcasts.