All Forum Posts by: Luke Spooner

@Antonio Cucciniello can we walk about your strategy please. Id love to know. 

What's the best way to contact you?

@Michael Carbonare - Thank you for your insight. 

So you are talking about long distance investing? How far away from Broward have you done it and had success if I may ask?

@Antonio Cucciniello thanks for replying. Where do you think that might be, close to Florida? 

I'm not sure about long distance investing. 

@Bradley Sriro the other option is wait for another year and continue to save, observing the fall out from the Corona Virus and see what potential deals come up.....

@Bradley Sriro - Thank you for your input. Ideally we really want to find a Duplex here in Miami for $350,000 and rent the other side out but its proving a little difficult. 

We want to offset our living expenses to fast track our savings. 

And Condo's seem to be a non starter as they all practically eat money or barley break even. 

Good day all,

I'm stuck in analysis paralysis due to Miami Dade's property prices.

I'm very motivated to get out of renting and into owning my first property but the prices for Duplexs and Apartments just continue to climb, killing their already slim cash flow metrics.

Any multi family property is $350,000 and well above. Meanwhile its hard to find an apartment that will cashflow due the high HOA fees.

Can anyone provide me with some local insight, proven strategy's, what sort of property's cashflow here and how to find deals as it seems good value is very hard to find. 

Perhaps are there any local Mentors that I can chat with?

I'm looking for Miami apartment experts. 

I'm trying to find apartments/ condos that I can get a CoC Return of around 7% per month but I'm struggling with the high HOA fees.

Are apartments worth the trouble here in Miami with these high fees and the possibility that you may never be able to sell it in future, as the market is continually flooded with them?

Is there any money to be made in investment apartments in Miami?

Hi there,

I’m an entry level Real estate investor, searching for local meet ups to learn about the area and meet new people.

Are there any real estate meet ups in Miami?

Hi all, 

My partner and I are starting out in Real Estate and getting a place together soon.

How does one not waste money on dead rent in South Florida?

Is there a way to do a rent to own agreement ?

Is that an option here in the USA, as I've been researching them for Florida but they all look shady...

Any information would be very handy!

Thanks Team 

Thank you @Christopher Phillips & @Todd Dexheimer!

So you think an owner occupied duplex will only break even on average and just cover the mortgage per month? 

Our goal is ideally to have a slight positive cash flow of maybe $100 per month for a repairs fund but we can do without that and just be happy with not paying rent, which will allow us to gain some traction with further savings for our next investment. 

Todd you raise a great point that I hadn't thought too much about yet, not over extending our reach and being realistic with the refinance. 

But we haven't even got a property lined up yet, were just trying to draft the best roadmap possible.  

Any more thoughts guys?