All Forum Posts by: Frank Boet

2016 has been the worse start in the HISTORY of the stock market. Something is brewing behind the scenes. I have spoken to a few realtors and they have agreed that we are in a "mini" bubble. Property values in Miami have risen to 2008 levels. They are unsustainable. A no frills 3/2, 2000 sq ft SFH sells for $300,000 plus, but wages have not kept up with the cost of housing. I have contacts in L.A, San Fran, Dallas, Atlanta, NC and Orlando and they are shocked at how expensive real estate has gotten. The big money in the real estate market was made if bought in 2012 and held. Right now, a 10% profit on a flip is average. I believe that we are going to see another wave of foreclosures and short sales in the next year or two. I love buying when things are on sale. Gold and oil are going to make a lot of people rich in 2-3 years. Be ready to load the boat on the next real estate sell off!

This is not to alarm anyone, but just to be diligent. Aside from being a business owner, I'm also a stock trader and I don't like the action on Wallstreet. I'm a technical trader and simply use charts for trading. I saw a breakdown in the market in August 2015 and proceeded to trade with caution. To gauge the paulse of the RE market I like to look at the stock price action of home builders like DHI, KBH, TOL. KBH and TOL ahve alredy began to breakdown and DHI is starting to break below support. George Soros recently said that we may be facing a crisis like 2008. http://finance.yahoo.com/news/soros-2008-crisis-ov...

Another red flag is that there are so many real estate gurus promoting their "systems" all over the place. Even Armando Montelongo. Where has he been? Every time the masses are positive about something, whether it is precious metals, oil, real estate, stocks, even baseball cards, it usually signals a top. I think I'm seeing a top, at least in the Miami area. Now, I am new to real estate investing and I have not made a single deal, aside from my current resident that we bought in 1990, but I'm 53 years old and have experienced many economic cycles.  As I type this, the market is down over 250 points and down 1,500 points in a little over week.  I'm going to continue my real estate education and prepare for a great buyer's market coming soon to a town near you. When? I don't know, but the charts will give me the sign. This only my two cents worth.

Thank you Nick! I'm in West Kendall. We'll be in touch.

Hello everyone,

I'm Frank Boet from Miami, Fl. My wife and I attended a guru weekend workshop in Miami a few months ago and decided that we wanted to start our own buy/flip business. The cost was over $25,000 for the system and there was no way we were going to pay that! Currently, we are learning the business by reading, watching videos and podcasts. I have lived in Miami most of my life, since 1969, and we have lots of home equity. Our plan is to incorporate under an s-corporation and truly run a rehabbing business. We are going to apply for a HELOC and put a team together, i.e, realtor, contractor, electricians, plumbers, dry wallers and real estate attorney. We are going to seek a private lender so we can leverage our HELOC and have more funds for more investing. Currently, we own a cleaning business since 1988 and over the years I have had many opportunities to possibly buy properties from motivated clients, but real estate investing was not my interest. We have come across fire disasters, water damages and even crime scenes where I'm pretty sure we could have bought the properties cheap. So in our business we come across many potential properties. I'm excited that I found BP and I hope to meet other members, especially from the Miami area. Btw, our cleaning company specializes in carpet cleaning, stone polishing, tile and grout cleaning in case you need to clean instead of replace the flooring of your flips. God bless you all and a prosperous 2016!!!!