Newbie Investor 150k - for Miami market

[Jason Brown]

Hey guys just wanted to reach out here and get some advice. I live and invest here in South Florida (Miami) and I’m hoping some of you more experienced investors can let me know what you would do in my shoes and why. After just completing my first successful BRRRR I’m back on the market looking for my next deal. My first deal was a small SFH that I’ve now got up and running as a rental. I put up all cash for it which, took the pressure off of turning it around but still seemed like I wasn’t taking advantage of any leverage. Now that I’ve got my cash back I’m definitely looking to scale up but I don’t want to end up just plunking down my money as a down payment on something turnkey and give up on finding something that I can add value to and refinance out later. In my market 150k isn’t really buying any apartment buildings so I’d like to know what you guys would do were you in my shoes and trying to scale up. Thanks

[Gabriel Amedee]

Hey @Jason Brown

In Miami dade it will be really tough to find single family properties for 150k. Just like @Marc Middleton said I would look into condos giving a good return or consider diving into the Airbnb route to maybe help bring in more capital for the next BRRR.

A couple other options could be having seller hold a note with owner financing while you rehab deal and then refinance after you raise its value. Another option could be a partnership with someone looking to do the same but no prior experience in the BRRR method. You can really use that experience to your advantage as it is not something commonly executed correctly.

Hope I provided some insight !