All Forum Posts by: Filipe Matos

Hi all, does anyone have experience in investing in small apartment/condo buildings in South Beach,Miami ?

I was wondering if there is anything in the market for less than 500/700k with good cap rate. My feeling is that there isn't many multi family properties in south beach, maybe mostly are old/new condo buildings and hotels?

thanks

Filipe

I am,

I registed more in order to do credit checks for 10$ and I can report tenant payments/non payments on their credit in a monthly basis.

I can't say if it is really worth it more than others...

For counseling you can always request and support other associations like the Landlod Self Help Centre.

colleges.Lately I was told about PadMapper.com which does scrape ads from several sites like kijiji, and AirBnb for furnished rentals. I have tried and both kinda work.

Viewit.ca is 50$ a month, they come to take pictures of your apartments and provide a sign if you want.

I have never tried but there is also www.places4students.com that has partnerships with several canadian universities/

this is what keeps me out from USA until now, financing.

It does not matter if you can get a factor of 1% because in the end you may still get cash on cash returns similar to Canada with 20% down. for me the important is how much each dollar invested generates in 5 years.

Maybe one way is to work on getting a good credit history in us and get the banks to lend to up to 20% ltv.

Sorry for giving wrong information, it's not 1% but around 0.8% right now.

I got one property last year and achieved the 1% factor after renovations but that was an extremely rare property.

I invest in the Toronto West side.

Never done flips, you need tons of money to do it to make sure you do not run out of money and sit with a cash flow negative property in the end. most sfh here are cash flow negative.

Next year I will start doing flips on multi family, I am looking for partners now.

you can also achieve 1% in Toronto through adding value with renos, but it''s a lot of work and a lot of money spent.

"Looking elsewhere now"

Not the first time I hear that:)

Correct, and I do not bet on appreciation.

in the next months I am going to sell all my properties for a cap rate of 5.5% and buy more.

I tried refinancing the properties and it did not work well at all, so now I am going to sell them at market value which is much more than refi.

I only see renos to work very well in Toronto, I would not spend as much in Hamilton since rents are very low, but talk with investors there and see what they say.

I cannot tell you 100% for sure that you can get 20% coc since i have not bought in Hamilton yet, that is just what I came up with on my calculations on some very specific properties sold previously and what they could profit after some renos.

The only way I think it would be possible it would be with a 10+ plex with 15% downpayment with CMHC, or a 5+ plex with residential mortgage and 20% downpayment (RBC)

I totally ignore Cap rates when I buy, what is important for me is the value/return after renovations. This is not for most people though, Renovations can be very stressful.

I have been looking there for 2 years but I always end up investing in Toronto Downtown where I plug all my money and get almost the same cash on cash and very good appreciation, one triplex per year.

A couple of months ago i was ready to buy in Hamilton, costs in Toronto are too hight, but again... I found another way to get better returns than in Hamilton.

Filipe

Hi @Gary McGowan

in which RE clubs you see Toronto multiplexes trading hands?

I haven't found any Toronto downtown plexes trading on the couple of ones I have gone to.

thank you

Filipe