All Forum Posts by: Frank Boet

That's what I'm talking about! Thanks Russell

Does anyone have experience investing in or managing a tiny home community? I want to build a 5-10 tiny home park/ community/ village to rent out, preferably in rural Texas, Tennessee or Central Florida. 

Ryan, I live in West Kendall too. I'm looking for condos and townhomes because sfh are very expensive, over $300,000 in West Kendall. I don't see a problem at all investing in a townhouse.

The old saying, "when everyone and their brother is advising to buy something " it is time to sell. It happens in real estate, the stock market, Crypto Currency and beanie babies. Profiting in RE is very difficult, especially in an overbought market. The fact is that the big money in RE has already been made. Investors that had the guts to buy 10 years ago when everyone else was selling are the huge winners. I'm going about this business in less conventional way. Real sloooooooooowly. In 2016, my wife and I bought a 1/1 condo that generates $400/month positive cash flow. We bought our residence in 1990 and we have just 5 years left to pay off the mortgage, but I'm making extra payments to pay it off in three.  We plan to rent it out when we pay it off, generating $2,000/month positive cash flow. We plan to buy a small fixer upper in Central Florida live there 2-4 years, then rent that one out. Rinse and repeat.  In the meantime we have been operating our carpet cleaning business for 30 years. In a couple of years we plan to sell it. I also love trading stocks, especially options. To sum it up, don't put all your eggs in one basket.

Climate change is real. The climate is cold in the winter and hot in the summer. I have lived in Miami since 1969 and there's no way anyone can measure any major change in the sea level. Key Biscayne and Miami Beach are still there and Key Biscayne would definitely be under water by now since it is a little bitty piece of dirt called an island. Climate goes through cycles. Right now it is extremely cold in most of the U.S. South Florida is the envy of most of the country. It's always so convenient for "experts" to predict what's going to happen decades into the future when most people are dead or too old to remember the prediction. Don't let the hoax (no disrespect to you. When I was young I fell for that stuff, including the recycling lie) of "climate change" effect your investing. That property on Coral Way and 34th Ave is a great area. 

Any chance that the meet up can be changed to a quieter location? :)

No matter what anyone thinks individually, collectively, the market is always right. Whether it is the real estate market, the stock market, Beanie Babies or Pokemon Cards. The market decides the value. Real estate will continue to go higher until it doesn't. There will be a peak, then sellers will stampede to the nearest exit. My wife and I bought our home in 1990 for $96,000, it is now worth $400,000. We can not afford to buy our home now. So I wonder, who is buying the $400,000+ homes in Miami? Most buyers are wage earners, earning say $15-20 per hour. How can a wage earner pay over $3,000 per month in PITI, car payment, living expenses, cell phone and everything else for the next 30 years? I wouldn't be surprised if we begin to see another wave of foreclosures in the next 3-5 years. As a stock trader I have learned NOT to chase a stock. Let the price come down to you. We just saw a sell off in technology stocks. Tech stocks were on fire this year. Now, investors are rotating into financials and consumer staple stocks. Tech was so 2017. This applies to RE. Don't over bid on a property. If the numbers don't make sense, don't buy it. Let the prices come to you.

We had a great time last night. Too bad that I didn't get to meet and talk to everyone. Looking forward to the next meet up.

Planning to be there if I can get through the US1 or the Palmetto parking lot .

I bought a condo on October near 17 Ave and the Miami River. We are currently rehabbing it, in fact, I'm heading down to Lowes LOL. At first, I never wanted to buy condos. Now, I don't want to buy sfh lol. I didn't want to pay HOA fees, but HOA's include property insurance to the exterior, so I don't have to buy additional property insurance, plus you get to enjoy all the amenities (cable,gym, pool, tennis, clubhouse, security,etc). Single family homes require much more costs AND you need to buy home owner's insurance. I'm now focusing on buying 1 bedroom condos. They are cheaper and require less rehab costs and lower maintenance. They are rented by one or two people, usually with no kids and no pets, and they work all day so there should be less wear and tear. I prefer long term leases instead of short term rentals. I don't want to deal with the high turn over. I prefer to buy in the Miami area instead of the very expensive areas like Miami Beach, Brickell, Key Biscayne, Aventura, etc. I'm really excited about the South Florida market in general, especially if the Northeast gets blasted by severe cold weather. Every year more people move down here because of the weather, the food, the culture, oh and did I mention the weather? :)