All Forum Posts by: Branden Rivero

I've tried working through wholesalers, but the numbers just don't make sense. Nothing below 80%, minus rehab. I tried doing direct mail myself, but the response rate has been very low. D4D didn't return any results.

For those of you who are in similar markets, what's your strategy? How do you find deals? Do you go above the 80%? I know in other areas on the country they don't look at anything above 70% of ARV.

I tried to fix and flip 4 hours away from where I am, and didn't enjoy it. It was just too difficult to keep up with my GC and permits.

I appreciate the advice!

Sam

Hey Sam! You just have to be patient and always on the hunt. Don’t depend on just wholesalers to find deals. Make some calls and hit the mls 🏚️🏚️

1 Vote

Miami, Florida

Quote from @Saar Shoshani:

Hi All! I'm fairly new to the real estate world with little experience across multiple areas. I've worked on private RE deals at hedge funds, I'm currently developing 2 projects, each 18 unit workforce MF's, and buying a property at foreclosure auction. My purchase was an HOA lien on an apartment. As you're probably already thinking as your reading, I made a huge mistake. There were multiple mortgages attached to the property after the auction and throughout four years, by luck, I was able to fix them with little money down and lots of headaches. I'm really interested in foreclosure/ pre-foreclosure purchases and have been studying on how to read court documents, title searches, and I have been watching the auctions daily. I find it difficult to step into foreclosures since, in my experience, books and courses I've crossed by are very surface level.

I'm writing this post to see if there is any advise to give me or a mentor that's willing to help me understand if this is an area in business that I can grow in. I'm also interested to see if there are individuals doing this or lawyers/ companies in this field. As an investor, I feel that I am in the correct position to succeed, both with cash in hand, and connections with rehab/ GC's in Miami.

Thank you for your help!

Hey I have bought a few here in Miami

0 Votes

Miami, Florida

Quote from @Benjamin Freed:

Hello, does anyone have any recommendations for trusted contracting companies in the Miami area? My family would like our grandparents home built in 1964 fully renovated and upgraded. We would like this done the right way so we would prioritize quality over price. Any suggestions would be greatly appreciated, thank you!

Hey I do fix and flips down here and build new construction. I can point you in the right direction with guys I’ve used and currently use

1 Vote

Miami, Florida

Hey I build down here, I can connect you with my guy dm me

0 Votes

Fort Lauderdale, Florida

Quote from @Arianna Farinas:

Hello BP Fam,

Im new to REI and i need some advice.

Should i focus on purchasing a primary residence or look into out of state investment property?

Heres my situation...My husband and i live in Miami, FL and the market here is ridiculously expensive. I was thinking of house hacking but a decent duplex here is in the 600s and up. Moving further north to house hack is out of the question because our businesses are located here.

We currently rent an apt that my parents own outright. They have offered to sell this place and gift us a portion for downpayment. Honestly i dont want them to sell this apt, it brings in steady cash flow for them.

My thoughts are to purchase a duplex in Cleveland or somewhere in Ohio. Build my core 4 there and start my investing journey.

Some forums suggest to invest in states where i have friends or family... which is only Georgia or Louisiana but seems almost impossible to find a decent duplex within the range of 85-$110k in those states without having to invest in major repair.

I feel like my thoughts are scattered and need to speak to someone that can lead me in the right direction.

Thank you for your time

Arianna

Fellow Miami resident and investor. I would purchase it here, house hacking would be great and it is expensive down here, and so are rents but it will be worth it.I am very bullish on South Florida Another option for the down payment can be a helo on the apartment you live in to use for your house hack

0 Votes

Miami, Florida

Quote from @Agustin Silveyra:

What do you guys think are the best zip codes in south Florida for fix and flips? I’m looking to invest in this area and would love your feedback!!

My suggestion as someone who currently has 6 fix and flips and 5 new builds in progress throughout Dade and Broward is to fix and flip anywhere the numbers make sense. If you limit yourself to a zip code or two I do not see you doing consistent flips.

0 Votes

Miami, Florida

Quote from @David Vaitenas:

Hello All,

This is my first post on this forum although I have been listening to bigger pockets for years. I wanted to ask your thoughts on investing in real-estate with others, more specifically family. I am currently looking to buy a 2-4 unit building in Fort Lauderdale area. I make about 120k a year and will be bringing my girlfriend in who will be paying me rent in this home as I plan on living in one of the units and renting out the other/others (she will have no ownership and understands this she's not what my question is about.). My parents have an extra 200k sitting around that they said they would want to go 50/50 on the property with me. I figured its a win win, they get to invest into some real-estate and grow their retirement as well as it will lighten my investment and potentially allow me to get into a better property that would cash flow/appreciate better.

Does anyone have personal experiences or opinions on this? I have the means to buy the property myself but I worry about my parents retirement and would hope we can rinse and repeat this process a few times and help them get some extra money for their retirement. I plan to do the BRRRR method (They are in their early 50's so they have about 15 years or so before we would want to sell or I buy them out of their properties for retirement) .

Thank you in advance for any advice!

Hey David,

I would house hack with your own funds first before tapping into the parents depending on your experience. I recommend using your resources to your advantage but doing it the smart way and being patient

1 Vote

Fort Lauderdale, Florida

Fellow Miami resident here, I would house hack in the area you want to be in. You'll be surprised how easy the next purchase will be after buying the first. Also , as far as starting over in your savings, Your savings are being invested they are not gone. It is sitting in equity.

0 Votes

Im not sure? a lot of agents send me deals

0 Votes

Miami, Florida

All Forum Posts by: Branden Rivero

Branden Rivero has started 0 posts and replied 133 times.

Post: Where I can best advertise my property for sale beside the MLS

Post: Finding deal in a saturated market

Post: Buying Foreclosures at Auction

Post: Home Renovation in Miami

Post: Best lender for building loan

Post: Should i buy a Primary or Out of State Investing?

Post: Best zip codes to invest?

Post: Investing with Partners

Post: Should I buy an investment property or personal residence first?

Post: For sale in Miami