Investment Highlights:
- Located in a fast and solid growing neighborhood close to restaurants, bars, art shops, art galleries and tech oriented co-working buildings.
- Fully upgraded with energy saving high impact windows, new AC units, new electrical panels, plumbing, new kitchens, stainless steel appliances, each building has its own energy efficient washer and dryer, energy saving lightings, landscaping, new high quality porcelain floors.
- No flooding area.
- 8 street parking spaces.

What made you interested in investing in this type of deal?

I have been in the brokerage business for years doing deals for many. At some point, my wife and I decided to use our expertise for ourselves.

How did you find this deal and how did you negotiate it?

I found it myself since I know the market very well and I saw an opportunity in this area. I pretty much represented myself.

How did you finance this deal?

I financed it with the help of a friend that owns a mortgage company.

How did you add value to the deal?

I knew the comps of the area, and I understood the upgrades that attracted the new buyers for this area. Pretty much: paint, new high quality impact windows, new open kitchens, upgrade to the bathrooms, new central and efficient AC units, great looking garden, and new fence.

What was the outcome?

Well, we were able to gain great equity value in an area that we knew was up and coming. We worked very hard and we never expected to sell it so soon. We learned how to deal effectively with permits and bureaucracy in the city of miami. We made great GCs that helped us finish our project. We believed in our potential.

Lessons learned? Challenges?

Many lessons learned, and a long way to keep learning. First, that even though I know the market well and I have worked in the real estate brokerage business for more than 10 years, I learned that there are unexpected variables that an investment can have. Then, the permits taking longer than expected, the repairs budget going to the roof, getting new GCs, the property taxes increase, using the wrong debt and investing alone. Also I learned that I needed structure to make it faster and efficient