All Forum Posts by: Account Closed

Hey y'all. Anyone have any experience with long term frame investments in Florida? 

Where is the property up to after 5 years? Ten years? 

Any significant difference between single family and multi-family deterioration? 

Is it different from frame anywhere else? Humidity maybe?

Why is frame in Florida a bad idea? 

Thank y'all in advance. 

Meirah 

Hey Linda!

That sounds really cool and different than the regular routes I see posted about on here. 

If you have any excess properties that you don't want to keep, please reach out... 

Good luck!

Meirah

@Leor D.

Welcome! Awesome start out. Thank you for sharing your story. Keep on!

Thank you @Ivan Vargas

Indeed, I have a forest of reading and research cut out ahead of me and your post is a better than imagined place to start out. Thank you again.

Did a little bit of research on WGI, they look swell. Will reach out if I get that far, I'd like to make it into one big multi-family and sell.

Thank you for the links. Will post with updates!

Meirah 

Thank you @Ivan Vargas

Indeed, I have a forest of reading and research cut out ahead of me and your post is a better than imagined place to start out. Thank you again.

Did a little bit of research on WGI, they look swell. Will reach out if I get that far, I'd like to make it into one big multi-family and sell.

Thank you for the links. Will post with updates!

Meirah 

Hey there trusty BiggerPockets,

Hope y'all are having a powerfully successful day! 

I'm looking at buying a plot of land in Palm Beach county and it is zoned 0800 - MULTIFAMILY < 10 UNITS. The land is the size of about 8-10 regular sized lots in the neighborhood. What I'd like to potentially do is develop town homes on the lot. 

Questions: 

1. Are town homes considered multifamily- units or do they need separate zoning?

2. Does up to ten units mean per x amount of sq ft or does it mean the whole lot?

3. What is the ration of sq ft. to unit allowed within Palm Beach county?

4. How flexible is Palm Beach in general with zoning?

I very much look forward to hearing from y'all. 

Much Love,

Meirah 

@Account Closed Your reply was clear and concise with a lot of very useful information. Thank you very much for sharing your knowledge!

Network, find the property, get everything in place, tenants, repair schedule, rates of return, expected profits and a general showing of why it makes sense. If it makes sense you can do it, everyone wants to make money and if you can show that you will people will invest. Refer back to your networking and sit down with individuals (high school friends, extended family or local businessmen) show them your plans and figure out a profit split. YOU GOT THIS!

Sagi,

Moving down to Miami was easily the best personal and business move, I've made yet. 

Multi families down here have higher returns then in NY. There are neighborhoods that have not yet gentrified but are sandwiched by growing micro-economies AND are currently returning at sizeable cap rates...  I'd advise to find these areas. 

When you say small multi families do you mean under 12 or 50 units? 

Florida IS a big state, my very subjective preference is Miami, you will not find paralleled appreciation rates anywhere else in Florida but you do find cap rates. I don't see a reason to sacrifice appreciation needlessly (the rest of FL) if it's not going to affect the rates of return. If you do end up looking in Miami:Dade and or Broward I'd be happy to answer any specific questions you may have. 

All the best,

Meirah

Welcome! Thank you for reaching out, if you have any questions re: Miami:Dade or Broward please feel free to message me.