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All Forum Posts by: Ashraf Spahi

Ashraf Spahi has started 4 posts and replied 33 times.

Post: Considering selling a property I have been rehabbing

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

Hi Sam,

As an investor and realtor, I search for properties for myself and clients all over the place, wholesalers, off-markets, foreclosures AND MLS.

I've seen quite a few properties in unfinished condition get listed on the MLS and get sold days later.
Investors are searching everywhere they can to find properties so try putting it on the market and see what happens. You aren't losing anything by doing so and may very well find a qualified buyer that does not have access to wholesale or off market lists that is willing to purchase the property all cash

Post: market analysis in miami areas

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

Hey Claudia,

1. Airbnb used to be worth it 2020-beginning of 2023. A lot of the current properties have had large vacancies lately so in the end you aren't netting more profit than renting out long term which also wouldn't include the headaches you have to deal with from guests as Hans mentioned. 
I had 2 Airbnb properties that I switched to long term because of this

2. Allapattah has major potential as its still closely located to popular spots that people want to visit but that is still a few years out until its fully established as a safe/nice neighborhood. If you're willing to ride it out then you can be in for good value appreciation.

3. If looking for Airbnb properties there are a few websites that let you track trends and nightly prices. 

4. Do your homework, check your numbers and if it hits a ROI % you are comfortable with then you have found a good deal.
I meet a lot of people that tell me they want a good deal but when I ask them what they consider a good deal they fail to have an answer

Post: SRT in sunny isle beach, FL condo hotels appreciation questions

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

Hi Reda,

There are a few buildings in Sunny Isles that allow STR and having managed Airbnbs there I have some numbers for what to expect for returns if interested.

I'm also currently working on some deals for clients within the condo hotels, send me a direct message with your number and I can call you to share some knowledge. 

Post: Sunny Isle STR - Looking for advice and info!

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

Hi James,

Did you end up moving forward with the unit in the building? I've done 2 deals in the building and their management company is a bit difficult to deal with. The building has quite a few issues completing construction projects that are needed. 

Give me a call if you want more info on the building. 

Post: Miami Rental Market Forecast for 2022?

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

RE Sale prices have started to level out a bit. We're seeing buyers being more price-conscious even with rates still relatively low. Homes are sitting on the market a little bit longer than in previous months, with some listing price cuts and some selling below list price.
There are a few exceptions though, for homes that have unique features, homes that look like they were renovated with quality materials and tasteful design are being bid up. If it's a cookie-cutter home then what I previously stated applies. 

For the rental market, we're seeing a huge influx. As buyers are priced out of the market they are having to continue to rent. Some landlords are not renewing leases because they are trying to sell their properties, or have sold their properties and need the tenants out. This has forced a huge amount of people to be bidding on the few rentals available. That coupled with the influx of out-of-state people moving to Miami and trying to rent as well has fueled low inventory and higher rental prices. 

A majority of apartment rental communities are also at 99% capacity, their highest records compared to 1 year ago. 

In the last 2 months, I've been receiving 3x more calls for my rental listings than my sale listings. 

Post: New to RE Investing - South Florida/Miami Investment Strategy?

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

Hi Alissa,

Like @Julio mentioned. Muli-fams are probably the best strategy to pursue. There are deals on the horizon within the areas you mentioned. You just need to keep your eyes open to things that pop up and move quick on them. 

I wouldn't go with a condo in Miami, there's too much supply and the HOA fees kill most of your margins and surprise special assessments could get you and you have no choice but to pay and if you tried to sell most buyers would want you to pay the special assessment for them so then you're making even less on your sale.

Send me a message and I'd be happy to go over the different strategies with you and go over how you are analyzing properties. 

Post: Miami/Broward Area Returns

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

Hi Joe,

There are a few multi-fams I found that have decent returns. It all depends on a few key things.
1. What do you consider good returns?
2. You can get a great price on a property to get higher returns but are you willing to rehab the property?

There are a few condos that can give good returns but you have to buy at an unbelievable price. Most of the time their HOA fees and special assessments will kill your profits

SFR you can get decent returns

Multifamily you get the best returns (From what I've seen)


Each asset class also appreciates differently so you'll gain value in that. 

Post: New Real Estate Investor

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

Hi Steven, I started in investing in Miami about a year ago. I've been compiling lists of areas and properties that meet/exceed the 1% rule and share it with other investor friends of mine. If you'd like to chat sometime give me a message 

Post: Rehab - Remove trim before texture?

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

That all depends on a few things.

Whats the condition of all the trim you have now?
Do you have the budget to replace all the trim throughout the house?
How much of a value add would new trim give you?

Post: Untapped areas in Los Angeles?

Ashraf SpahiPosted
  • Real Estate Agent
  • South Florida
  • Posts 35
  • Votes 17

You're experiencing the struggles that a lot of other investors in LA have. Unfortunately, there are a lot of newbies bidding up unrehabbed properties to where it doesn't make sense or many buyers are buying rehabbing themselves and living it in. 

Unless you have a great relationship with a realtor that focuses on fixer properties or a wholesaler, you'll have a pretty tough time.

You could also look for multifamily homes instead