All Forum Posts by: Jason Brown

 Man high is an understatement. According to the OP's numbers his county is running a tax rate of almost 3.5%!!!! That seems ludicrous to me. I'm in Florida which is known for having higher property taxes given that we need to supplement not having any state income taxes. Even here though you're looking at about 1%. 

For 3.5% I would expect to see municipal workers coming around in Teslas lol.

I can't imagine homeowner's coughing up 3.5% of property values on a yearly basis .........but I guess its been working for them. 

My main fear with sharing my GC and subs is that the owners or investors who ask me for their information will be a waste of their time and look bad on me. We all know that newbie investors want subs and GCs to take a couple hours out of their work day to drive over to a house they don't even have under contract, to walk the whole property, and provide them a super detailed quote with labor broken out all for free to ultimately not hire them for the job. Or when they actually get that quote to balk at the price of labor because they have no true understanding of a good tradesmans compensation especially in today's market. Everyone is afraid of referring a bad contractor to a friend but I'm much more concerned with referring a bad friend to my contractor.

@Brian Wise

Am I reading this correctly? Are you paying 4600 a year in property taxes on a 145K house.....?????

Have mercy.....

Hey Kris,

Welcome to Miami BP. 

From reading your post I'm not seeing someone looking for a Miami real estate investment so much as someone looking for a first time home purchase.

The good news it seems like you've got a lot of options. The bad news is...... it seems like you've got a lot of options lol.

Miami, east of 95, is pricey almost everywhere so lets be honest. North to south you're looking at Aventura, Morningside, Edgewater, Brickell, Coral Way, Coconut Grove. Serious, serious money. A basic SFH in these areas will probably run 600K+ on the low end side (meaning you walk in and then have to rehab). Moving a little farther west to be closer to 95 and you'll land in Little Haiti, Liberty City, Allapattah, Little Havana which will get you a little more bang for you buck (although now I wouldn't even be too sure with these prices) but the neighborhoods will reflect that (take that how you please).

If you've got 100K and your goal is to keep your monthly expenses under 2K I believe you're really looking at an apartment or condo within these areas. Definitely feasible and with money still cheap to borrow I can't imagine any better time for qualifying for financing.

Message me and I can recommend a great realtor.

Best of luck.

Hey Nathan now I'm curious. 

In your opinion/experience were you to get this signed agreement for early termination from the tenant what is the likelihood of this contract superseding the original lease agreement in front of a judge?

I asking to this under the hypothetical situation of the tenant signing the agreement and then reneging a week or month later when the seller is halfway through the closing process with a new buyer.

This question is something of a catch 22. 

Generally speaking funding deals can only be accomplished after finding them and finding deals is what really takes money (for most of us).

Now that maybe MONEY money or TIME (SWEAT) money but it usually takes some form of money.

Find real deals with actual spread and investors, hard money lenders, flippers, grandma...... whoever will be there with the funding.  

Not necessary but I prefer the mindset it gives me. 

As an aspiring business owner I prefer having an established business entity, separate business checking/finances, business history.

When I give my tax info to my accountant at the end of the year everything reconciles to one account or one credit card.

Not that you couldn't keep track of all this information via other tools but I prefer it this way.

I 100% second this. Legitimate buyers know that there are so FEW legitimate wholesalers with LEGITIMATE deals that when one actually lands in your lap you wouldn't dare screw them over.

That's like finding a unicorn............. and then shooting it. 

We don't shoot unicorns around here.
  

All the time.

In today's market I'm meeting with my realtor within the first couple hours a property is listed. We'll grab the keys, go in and do a walk through of the four major systems: roof, electrical, plumbing, & HVAC. If I'm remodeling the whole place does it really matter the condition of the kitchen cabinets or the leaking faucet?

Why inspect what you're going to be throwing out anyways.

Double so on things such as condos and apartments.

This is 100% correct. No market is too hot to wholesale. Obviously more deals tend to come from lower income areas but that doesn't mean a good strategy aimed at these areas is any less valid. For Miami you're looking at Allapattah, Little Haiti, Little Havana, North Miami, Miami Gardens, Liberty City and the general north eastern parts of the city. You'll be looking for rough areas, back taxes, liens, liens for illegal additions (hahaha a lot of those), code enforcement penalties. Narrow down on the those and find the sellers who are really stuck and you'll be able to find something. A lot of people talk about tired landlords but I've found that that is not enough of a problem for most sellers to go the wholesale route instead of a typical MLS listing.

Best of luck