All Forum Posts by: Jose Alonso

Yea @Brian Garrettit is a tough market right now. I wonder if we will see a change in that in the next 12 months. Hey @Andrew Hernandez good luck with that men. Are you a loan officer? I currently own a duplex in west Miami live on one side and rent the other. Looking for a property to purchase in the next 90 days trying to stay below 140,000k lol, have to wait and see like Brian said its tough.

Hey guys and gals. I'm in Miami currently shopping for my second rental property whoo hooo, but I'm having trouble finding good deals. So I thought I would ask you all. Where are you guys finding good deals? Whole sellers? Auction? MLS? anything else? Thanks in advance for the input.

@Duriel Taylor Thanks bro.

What areas are you looking in? With patience you will come across some multi-family properties in and around 150k in c & d neighborhoods yes b neighborhoods are around 300k. I would say that at least 60% of SFR in Miami have efficiency's most illegal. So yea that can work.

Hey @Soumya Brijesh I asked that same question but unfortunately got no references. If I find a good CPA I will be sure to recommend them to you. Good luck. 

Hey Jorge, yea that would be great man. How about Wednesday is that okay with you? 

Hey @Jorge Ubalde good question. First of all I agree with @Jeff Wallenius that the answer to this question greatly depends on your personal goals. At the rate in which you want to expand your investments, as you laid out in your reply to Jeff. In my opinion scenario one is probably your best option as you would pick up a pretty good property which will CF for you down the line. This option will give you the opportunity to then use the 45k you currently have to move to scenario 2 or 3. Of course your parents townhome will add negatively to your debt to income. So a very important question how strong is your borrowing power.? Now moving on to scenario 2 & 3.  Again at the rate you would like to expand I would think scenario 2 is your best option, but this greatly depends on your variables. In a perfect investor world if you can save enough funds to buy your property's and the upfront cost they require, and have the borrowing power to at least get 5 property's under your belt before you have to start getting creative. Then scenario 3 might be your best option. If not then I think scenario 2 is your best option. Find someone you can relate to who is smart and has your same interest and goals. Try to find a partner where you guys offset each others weaknesses. Make sure you have a lawyer write up a partnership agreement form that you would both sign. Lay out your 4-5 year plan. Agree to the terms of your partnership, and what each of you will be in charge of.  Good luck Jorge.

Hey @Yasmine Bisumber I'm a newbie investor here in the Miami area. Just have one property under my belt and I'm doing the famous house hack strategy, as is a duplex I live on one side and rent the other. Anyways here's what I see Miami, is FULL of house flippers right now everybody and their cousin is trying to flip distressed property's. Which is driving prices up for these properties and leaving investors with smaller profit margins. NO SPACE FOR MISTAKES. When it comes to multifamily properties there's less competition even though there is still plenty, down here a good multifamily deal will have an offer accepted rather quickly. Prices are steep and seem to keep climbing even though demand here for rental property's is amazing. I'm not sure how long this can last. I believe we will see a market adjustment of 10-)15% withing the next 2-)3 years. Hey @Thomas Franklin I always see you here on the forums and wanted to thank you for spending the time to help new investors and give back. You sound like you've had your share of success, and I for one will definetly love to pick your brain and learn from someone like yourself.

Thanks guys happy investing.

P.S @Jerry Miller I will be attending the Feb 1st meeting hope to see you there. :)

Yea that's always an option, higher rates but we can keep the ball rolling.

Thanks @George Despotopoulos

Yep doing that right now @Neil Aggarwal. I might buy this SFR I'm looking at through a private lender, wait 12 months and then refinance. Thanks for the input.