All Forum Posts by: Jason Brown

There is absolutely no way I can see myself or any of my investor network paying on top of what the seller/listing agent put the property up on the market for.

Now if you're able to negotiate on market deals for less then they are listed for and the numbers make sense then we'll definitely talk but its hard to imagine sellers listing for X only to go under contract for less with an additional fee built in. Especially in this market but hey nothing is impossible...............

For these reasons and many others the general consensus is that trying to wholesale on market properties is essentially a waste of time for all parties involved.

Congrats. Way to pull the trigger!

Just picked up a condo in Little Havana in August. The area is definitely competitive price wise but I see significant upside being so close to downtown. Unfortunately the building I bought in does not support STR but I still think its a solid play as a regular long term rental. In all honesty most condos and communities are already hip to the game of the STR investor and it is becoming increasingly difficult to find those legitimate opportunities that are allowed by the building's HOA. For 450K you might have to look a little bit farther west or north of the little havana and the surrounding areas. Not saying its not possible but the majority of people I see doing it in this area (especially in the new buildings) are not necessarily keeping in line with their associations rules.

I honestly doesn't make any sense........ and yet I'm seeing these types of listings go under contract every day. There must be something they know that we don't. 

In the grove? Where are cap rates now? must be even tighter at this point? 

Welcome to Miami REI. Always great to see another Soflo Investor on these boards.

If you've got any serious value add deals I'm always buying.

Welcome to MIA REI.

As a Miami investor I can give you my take on the SE FL market.

We are seeing a lot of growth down here especially with all the news surrounding all the tech companies trying to grab up space in the downtown financial districts (think Microsoft in Brickell). 

While this is great it definitely correlates to the extreme price increases you will see in both the single family and multifamily housing markets. Given that you will most likely have a much harder time finding stronger cashflow investments here vs the SW.

But with that lower cashflow you could reasonably expect to gain significant equity and appreciation under a long term holding strategy vs potentially lower price points on the west coast. Housing shortage is a big factor and new build's won't alleviate that pressure anytime soon.

The barrier to entry will be a bit higher over here with median single family homes hovering around 500K but with 10-12% YoY appreciation would you prefer a lower cost asset that puts 250 per month in your pocket?

I don't think I would.

Good luck!

I second this. I picked up an ON MARKET deal about 2 months ago down here in Miami for 160K. Today I can't find one current listing anywhere in the zip code area that is not over 205K.

60 days later.......... 45K increase in value? I'll take it.

Why not just use Propstream. For 99 a month and you can filter all properties in Miami (or anywhere for that matter) that have liens. It will show you the amount, type etc. It will also show you the book and page number so you can go into the Miami Dade clerk website and look it up specifically. Super useful.

Cancel after that one month if you've got what you need or continue to pay if you see the software is useful.

BTW I don't own or have any connection to Propstream.