All Forum Posts by: David O.

I have had success in investing in condos in South Beach, but it was all about timing.....they were acquired on the rebound from the real estate crash in a buyer's market/ Now prices for condos in South Beach are skyrocketing and the capital appreciation has been well worth the investment, even though the cash flow wasn't great (but still positive) over the years!

I am interested in knowing as well and networking with local flippers. 

When I first started expressing interest in real estate investing, I asked my local broker if she could introduce me a seasoned real estate investor with a large portfolio to teach me. I offered to manage one of his apartment building for free in exchange for his mentorship. Over the years, such relationship has definitely taught me more than any book can. Leveraging on 40 years of knowledge with a pro is a way to go. Try to find someone that will teach you free in exchange for property management or value services (like painting walls, etc.) I think many older successful pros are eager to mentor a young and hungry real estate investor if you build a good rapport with them. 

@Brian G.Congratulations on finding the Homepath listing! I've tried before through them and wasn't able to close the deal on their platform, but like you said, you were relentless!! Congrats bud!

@Daniel K. I definitely agree with you on how tough it is to find deals, but they are out there. Most of my successful deals I was able to get them owner financed after building a rapport and trustworthiness with the seller (and explaining to them all the tax benefits). The art of negotiation is something I have been learning and evolving over the years and it has truly translated into better deals with knowledge I have acquired here from Bigger Pockets!

Welcome to Bigger Pockets!

Find the broker you feel most comfortable with and that treats their agents the best & you will find great clients to build long-term relationships with!

Welcome Chris!

Why not use your expertise in law and also practice here as well? Either way, your experience is commercial real estate law should definitely differentiate you from many other agents here in Miami!!

@Alexander Felice

 Yes, those are the same reasons why I am trying to diversify into the commercial, multifamily real estate. The cash flow is much better and predictable, without all the hassle and rules of HOAs breathing down your neck. 

I have family that have invested in multi-family buildings in Miami Beach right after the real estate market crashed in the buyer's market. Now Miami has become a hot seller's market for the reasons the other users posted, i.e., there is a lot of international competition and interest to buy any available commercial multifamily properties. With that being said, it is not impossible to find a good deal. I found my aunt a great deal on an owner financed 10 unit multi-family in South Beach that was off-the market a few months ago. The key was networking with brokers and always having the ability and reliability to close if a deal is presented to you....don't let it slip by. 

A lot of local investors that I network with mentioned Little Haiti and Lemon City closest to Biscayne side as the newest & up and coming emerging neighborhoods.