All Forum Posts by: James Charles

The Miami market isn't a mystery. Essentially, the ridiculous sums of foreign investment is propping up the market, and inflating it beyond the norm. Purchase prices are no longer in line with replacement costs, or even what local wages/salaries can manage. The reason behind the inflation may be unique, but for our purposes you can treat it like most other hot (and overpriced) markets.

What does this mean?

If you want to wholesale, go for it. Plenty of willing and able buyers, you just need to find and lock down solid off-market deals.

If you want to flip, go for it. But be aware that fluctuations in this market are amplified, so projects here are riskier, particularly rehabs that take several months.

If you want to buy and hold, go somewhere else. The competition among buyers, high purchase prices, and high insurance/tax expenses make being a successful landlord here rather difficult. For most, it is an appreciation play. Which isn't the Bigger Pockets way.

Im in Miami also, im a new wholesaler. I haven't made a deal or even offer one yet. Im 3weeks into this, but i see alot of vacant, distress looking properties in the low income areas. Do you think it will be a bad decision to wholesale them? I need someone from miami point of view because our city is different

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Welcome to BP. Im from the Miami area as well. Great to see a miami native on here. Its not a lot of us on here. Good luck on your goals.

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Hello Carmilo.

Nice to have you on here. You'll enjoy every bit of information you receive from reading blogs, forums to listening to the podcast. Theres not alot of south Florida love on here (305,786,954) to be exact but intelligent people from all over. If you here anything about a meet up please inform me. Ive been looking for some in the area but have not found any yet.

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What's up Micheal. How can i get in contact with you?

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@Mark Nolan

Thanks

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Thanks Paul

Really appreciate it

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@Anne S.

I'm a newbie myself to this site n REI. Im trying wholesaling. That could be something u can get into without a lot of capital. I heard n read a lot of successful stories on BP. Maybe one day us newbies can have a success story to tell. Good Luck

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@Micheal Lee Thanks Im doing my due diligence on it.

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Im a newbie to wholesaling. I work 11 hr shifts. I get paid real good but i'm looking to have financial freedom. Im trying to stay focus but its hard coming home to my 2 kids thats 5 yrs old n a 4 month old baby. Im usually physically and mentally drained by the time i get home. So its hard for me to put maximum effort into researching. But ive been doing my best so far, until 2 days ago where i was just stuck on trying to find absentee owners list or any sellers. Im willing to work with experience wholesalers to get more knowledge in the game. Is there any sites anyboby out there that knows how to receive them? Could someone point me in the right direction? Is there anything that i need to know? Would appreciate any help.

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@jason farmer Where do you find your absentee owners? N how can you find them in an inexpensive way?

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All Forum Posts by: James Charles

James Charles has started 5 posts and replied 30 times.

Post: Miami Investor

Post: Miami Market!

Post: New Member and Agent from South Florida

Post: Newbie from Pensacola, FL

Post: Newbie to wholesaling

Post: Newbie to wholesaling

Post: Want to get started in Kitsap County, WA

Post: Newbie to wholesaling

Post: Newbie to wholesaling

Post: Yellow Letters