All Forum Posts by: Share Ross

Hello @Jin Zhang

Yes, the 4 point is there to ensure the 4 main systems are functioning so the insurance company can issue the policy. (Hvac, roof, plumbing, electric) 

There are a LOT of factors involved and it is not quite as clear cut as simply the age of the roof etc. 

Other elements: impact/shutters/panels or nothing for storm protection will greatly influence your insurance. If under contract and the roof is too old to insure - you can get a temp policy with a mandatory new roof contract in place. 

To answer your question: I have never had a seller had to replace a roof or replace the HVAC simply to close the sale. I did have one seller who agreed to repair a roof, pay for it and then was reimbursed by the buyer at closing.

But most of the time - that is not needed. Insurance also depends on your location as well. The age of the property is another part of the story. Frame or CBS is yet another. 

Don't let it scare you from investing here though. I have worked with lots of investors who are doing very well with their properties! Ask away and of course - if you want to talk more - I'm here! 

Hey @Justin Cabral

There are some great areas to support your plans in Fort Lauderdale and Hollywood and a few other pockets in Broward. 

it’s pretty straight ahead to find a great sfh like this with dockage and the right vibe. 

No HOAs of course … you might even be able to find one turnkey?! (Just helped someone do this) 

Do you plan to self manage or hire a manager? 

Let me know if I can assist more. 

Hey @Winston R Samuels congrats on your commitment! 

I am going to echo @Ryan Halford and @Doug Smith and add ... the reason you want an agent who is familiar with investors and the strategies that work here ... is not only to help you avoid the mess of searching for properties ... but ALSO - because we know how to negotiate so you can actually get a property under contract. It is one thing to know how to write an offer. It's another thing altogether to know how to write an offer with the strong terms that the seller is seeking. That requires an agent who knows how to pick up the phone and talk to that listing agent! (Something I do all the time for my clients) 

Plus helping you along the way while you're under contract!!! It might sound like I'm tooting the horn of this profession ... but I've done too many deals that required hundreds of phone calls to finesse the transaction... and can definitely say .. the RIGHT realtor as part of your team (lender, realtor, handyman etc.)  will help you in many, many ways. 

I don't service Miami (I service palm beach county and broward) but I will be looking here to read of your successes! 

Welcome @Charles Frederick! This is such an amazing community! I'm an investor friendly realtor based in the Boca/Delray/Boynton area (lots of investor deals in WPB, too) and just want to say Welcome! 

I don't have any backlink website help for you however ... there are so many ways to build that presence. 

Look forward to seeing what strategies you implement and hearing about your successes. 

Oh wow! @Benjamin Hershkovich that is great! 

Sure - reach out anytime 

Happy to assist in any way possible. I LOVE helping my investor clients succeed. :-) 

@Mason Liu thank you! 

Hey @Benjamin Hershkovich you've got a LOT of great responses here. Indeed - it is challenging to find deals at 250k these days. If you're cash- it's definitely easier. If you're financed - it's a bit of a battle. That being said - you could look in Port St Lucie. A LOT more accessible pricing there. (still substantially higher than where it was 3 years ago of course.) 

Happy to talk further if you want or answer any questions you might have! 

Best of luck to you no matter what. 

That is fantastic Karen! Glad it's going well and congrats! 

Did you have to renovate? Decorate? Or was it turnkey? 

I agree with @Ray Hage... sitting on the sidelines 'waiting for prices to come down' will most likely result in a very very long wait. 

@Hunter Purnell It's a great strategy if you do it right for sure! 

As for prices and corrections - I am a busy residential realtor and work with a LOT of investors. (and end users too for that matter) What we have all seen, is that 'values' are not coming down. Not at all around here. However price corrections are happening. Often due to sellers who have very much over valued their home and are stubborn on the price when they first list. Then ... the market gives feedback and they don't get any offers so they have to price reduce to where it should have been listed in the first place. 

As for values in the area - a lot of folks way smarter than me say that the area was actually under valued for years. And has now caught up with a bit of added appreciation. (Would love for any data driven folks to pipe in on that line of thought.) 

From a personal stand point - I don't know how long it can last where it is. We are stuck at around 50% inventory and more buyers than ever before. Will it be like Los Angeles, San Fran and NYC where ... it just keeps going up and has little pull backs? Or will it have some massive devaluation? 

Nobody has a crystal ball and I think anyone who claims to 'know' what will happen is basically crazy! LOL 

As for deals, nobody wants to overpay and it's typically a fight for all my buyers right now. Every single deal has multiple offers on it. Even the teardowns. Unreal? Yes. It is! And yet.. my investor clients are still buying and still making it work. Several flippers, househackers, and several STR clients and also - several buy and hold. None of my clients get the 1% rule. But a lot of strategies DO work if you can actually win the property!

Hope that gives some insight and eager to hear what other folks have to say. 

Hey Carlos, congrats on your first rental! Greenacres is a desirable area and I would think you'll find a reliable tenant easily. 

As noted above - if you use an agent - it will post to the MLS and then auto-post to other platforms. The cost to you for an annual rental is one month of the rent. (split between the two brokerages.)

If you decide to go it on your own... I've had clients use Craigslist and Zillow and good old fashioned signage (when allowed) to great success - use a system like RentSpree to do background checks etc on any prospective tenants. Good luck and hope it's the first door of many for you!