All Forum Posts by: Rosie Giacosa

Same here. Thanks.

Sorry, typo. I check properties owned by estates in the probate records.

So I'd appreciate some brainstorming from local investors and real estate agents. I'm struggling to find a strategy that is working with today's inflated prices in the South Florida markets of Miami-Dade, Broward and Palm Beach. I'm a buy and hold (BRRR) with flip if the numbers make sense. I prefer multi-family but will do SFR. I stay away from the condo or commercial markets.

I'm resorting to the off market and the probate roll to try to find a decent deal. It seems that anything that hits the MLS, let alone Zillow, and is not horrible is gone quickly. Too many foreign investors spending stupid money on properties even in highly risky neighborhoods.

So, where are my fellow intermediate investors finding deals that make short and long term sense? I just don't want to be sitting on the sidelines with cash until the next down cycle.

I appreciate you sharing.

Art in Pinecrest

 

Hi everyone,

I hope your projects are going well.

We are struggling with subcontractors. We function as our own GC to save on the expense side. It has been a challenge keeping subcontractors on task and moving timely. This has resulted in many delays.

It seems that every time we're not looking, one slips out early, doesn't show or just falls behind the deadline we established.

Anyone have an best practices in managing subcontractors? I can't imagine running two or three rehabs at the same time if things are like what we are dealing with.

Thanks.

Art

Not a full price offer. Then came in $25,000 less than asking

Additional facts: Agent is buyer's relative. Relative found my listing on zillow and came to see it. Then buyer got the relative to submit an offer for her.

Hi,

Is it appropriate to ask a buyer's agent to cut his commission to 2% to close a deal if I am selling my property as owner/agent?

Thanks!

Hi everyone,

I'm a real estate investor. I have obtained my real estate license for the benefits it can offer me such as access to the MLS and savings on commissions.

I'm looking for a broker that will give me a good deal for associating with them. I've been researching and some of the larger brokerage firms keep a large percentage of the commissions. I don't benefit from training/mentoring programs so the commission given up is not worth it.

Does anyone know of a reputable broker that is willing to give a good commission split with investors that have their real estate licenses?

Thanks in advance.

Art

Thanks for your replies. I agree it really depends on your personal situation, expectations and vision. For us, we know it will take us 3-4 months to reno a property in the condition that we buy. It's a lot of time, effort and expense. This is why 30K profit is the minimum we will do today. I guess if deals were plentiful and property values where much less, I can understand targeting less profit because you make it up on volume. Three 15k deals at the same time will trump my 30k one all else being equal. Unfortunately, Miami is not that type of market unless you are going into the D neighborhoods. Any sort of market hiccup and your deal will turn upside down. It's not our strategy. Allow me to take this in another direction. How are you guys finding deals today in Miami-Dade county? MLS, wholesalers, foreclosure auctions, driving for dollars, direct mail, etc? I'll start. We are relying on MLS sleeper deals, wholesalers and auctions.

So my wife and I have done a few flips in South Florida and have one in the pipeline. However, we are not seeing the amount of good deals so we are not at the "three at a time" pace that we want to be at. I'm thinking we may be expecting too high of a return on flips than is realistic for the Miami-Dade market. Up to know, we have had a requirement to net at least $30,000 to make our time and effort worth it. I've seen many flippers in Miami bidding properties up to a point where the net return will be closer to $10,000 for a deal. They will cut corners, avoid permits, use cheap materials, etc to try to make up some margin. However, this keeps them from getting top dollar. Question: with the potential for a market correction in the near future, especially in Miami, what net return are you requiring today to make a deal worth it for you? Thanks, Art Giacosa