All Forum Posts by: Ray Hage

Hi! We are Hilary and Corey and are new to BiggerPockets as we are interested in beginning our real estate journey. We are looking to invest in Southeast Florida and welcome any advice or information you may have. We look forward to connecting!

Hello both. It is a tough market in south FL but you can do it. I am a realtor and LTR investor here in Fort Lauderdale. Which type of properties are you considering?

0 Votes

Fort Lauderdale, Florida

Quote from @Jason Bott:

@Maria M. there are some other insurance carriers we have used for Liability only in FL. The last Liability only policy we did was 7 Single family rentals in FL, $1M of coverage for $1,700 per year. Around $250 per property.

I'll send you the name of insurance carrier.

Hi Jason, could you share you insurer with me as well? Thank you in advance

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Fort Lauderdale, Florida

Quote from @Kevin Kelly:

Hey everyone. Looking to get started. I'm coming down to West Palm Beach from NY in May. I'm interested in finding deals within a 50 mile radius of WPB where I vacation every year and wondering who I can connect with on the side prior to my visit to see if my goals are realistic in the area.

Hey Kevin. How's it going? I am an investor and realtor here in Fort Lauderdale. I've been down here 18 years so I know south FL very well so I can definitely help you out in that! I will actually be up in NYC in April so we could also connect in person before you come down.

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Fort Lauderdale, Florida

Hey @George Munoz looking forward to it

1 Vote

Fort Lauderdale, Florida

@Jonathan Baptiste thanks for sharing your house hacking experience. I have been househacking on and off for about 4 years. Yes there have been some dramas here as but for the most part it's been pretty great. I was able to turn my place into two units so no shared spaced helped a lot.

Some high and lowlights:

- I had one tenant that brought German cockroaches in and then blamed it on me

- Same tenant asking if her daughter can visit but failed to mention it was 5 more very noisy people

- another tenant having constant loud arguments with his gf

- tenant saved some of my stuff when the house flooded due to a pipe burst and another time during a monster rain storm. I was out of town for both of those. Just my luck haha.

- >65K in rent collected

- having someone to bring in Amazon packages when it is raining outside

- generally having someone to watch over the property when out of town often

I think the headache is worth it.

2 Votes

Miami, Florida

Quote from @Chris Rich:

Quote from @Gabi NA:

Hi, I am a 20 year old college student looking to buy properties with the goal of either turning them into Airbnb short-term rentals or long-term rental properties. I'm pretty new to the game and would love to get some advice from more experienced investors here!

A few things I'm trying to figure out:

First-Year Living Requirement: I've heard some places require you to live in the property for the first year before renting it out. Is this something I need to worry about? I'm not sure if this is a local thing or if it's common in all markets. How do I know if this applies to the areas I'm looking at?
Airbnb vs. Long-Term Rentals: What do you think is a better strategy for someone just starting out—focusing on Airbnb (short-term rentals) or traditional long-term rentals?
Rental Arbitrage: Is rental arbitrage still a viable strategy in today's market, or has it become oversaturated? I’ve heard mixed things about it, and I’m wondering if it’s worth considering as a young investor without a lot of capital to start with. Has anyone had success with rental arbitrage recently?

I’m open to any advice, personal experiences, or recommendations for someone at the beginning of their real estate journey! Thanks so much in advance!

Hi, I am currently living in south Florida and was wondering what are some good areas to look for condos or townhomes to rent or do Airbnb.

If I was you I would house hack. Buy a 3/2 (if possible), live in the master, rent out the other 2 rooms to friends. Renting an individual room is all but guaranteed to be cheaper than them renting a 1/1 apartment alone. This will lower your monthly living expenses while your tenants help pay down the mortgage and the house appreciates. Then in a few years you can find a 3rd tenant for the master, pull out equity, buy a new house, rinse and repeat. A friend from college did that starting in 2008. With a little help from the market and appreciation, his portfolio got up to 12 SFRs. Last year he sold most of the SFRs and bought a multi-family. He's retired at 35 and all he does his run his units.

@Gabi NA I agree with this. House-hacking is often the easiest way to start! It is also will allow for experience in managing tenants, repairs, accounting of the expenses etc...plus you get to keep a close eye on the property. I still house hack by splitting my house into two units. I don't need to but it is worth it as I have my own space. Good luck in the journey

2 Votes

Fort Lauderdale, Florida

Looking forward to it. Great venue too

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Fort Lauderdale, Florida

Congrats on the remodel as I imagine it is done by now. Did you manage to find a renter? I have been looking into that market a little bit. I know the entry point is low but is the cashflow there?

0 Votes

Fort Wayne, Indiana

Congrats on the newly built duplex. @Ash Hegde might be able to help out with this one. I don't think it should be too difficult to get a 15 year mortgage on it. Why not 30 though?

1 Vote

Fort Worth, Texas

I believe that MF will still be solid in 20 years or so but specifically. Cap rate will be a bit harder to predict. I expect rents to go up a lot because less and less Americans can afford a house over time plus folks are far more mobile now so they may be inclined to rent vs buy. We will see.

2 Votes

Miami, Florida

All Forum Posts by: Ray Hage

Ray Hage has started 1 posts and replied 1069 times.

Post: Nice to meet you!

Post: Company for liability insurance only

Post: West Palm Beach

Post: New year, new opportunities. @Chill & RE

Post: What I learned after 1 year of house hacking

Post: Young college student looking to buy their first property for Airbnb or Rental

Post: South Florida Multifamily and More Holiday Party! - Dec 11th - 7pm

Post: Purchased First Rental Property

Post: Looking for 5th mortgage, 15year-fixed

Post: The Long Term of Multifamily