I recently heard David Greene’s horror story about a short term rental license going bad in the north Miami Beach area (inspector looking for issues to pick at with the property and tagging the property for issues to avoid granting a rental license), and I was curious about people’s experiences in unincorporated Miami Dade. 

Take this 💥just-closed renovated property for example💥:With my query of "22757 Charlemont Pl, Woodland Hills, CA 91364 5/4/2400-3050,0.6,300" we get an ARV Estimate that is ~4% off, and I picked this at random just scrolling through recently closed in my areaAnd the Market Stats $/sf of renovated property in that Zip Code matches up pretty well, so I know the ARV estimate is realistic:You can also run Agent Stats to find/get in touch with the real top-agents in that area so you can triple-verify everything and/or list it with them when you are done.

Our son is turning 25 and is already in the workforce.. we have jointly prequalified ourselves for a real estate purchase up to 500k, I think we will try and pick up a beginner property... our daughter is 22 and is still finishing up college... the story will continue!!

I hope all is well.We have a STR in the town next to Ludlow and we were booked solid for the Winter (every single weekend and many weekday nights.)Check out our property "Honeypot Farmhouse" here.We're just coming out of "Mud Season" now where everything shuts down (restaurants, etc), but entering the Spring and Summer, we expect the rentals to pick up nicely.

Also, pick a farm area where you get to know that one particular area really well and focus on that in the beginning, also maybe try direct marketing, posting fliers in mailboxes to see if you get any bites.

Take this 💥just-closed renovated property for example💥:With my query of "22757 Charlemont Pl, Woodland Hills, CA 91364 5/4/2400-3050,0.6,300" we get an ARV Estimate that is ~4% off, and I picked this at random just scrolling through recently closed in my areaAnd the Market Stats $/sf of renovated property in that Zip Code matches up pretty well, so I know the ARV estimate is realistic:I also set this up to run through every new-listing in my area, and generate a summary sheet of good-potential deals:So it's all possible to do, you just have to get your data and build on top of it.

Tripping over dollars to pick up pennies.Even when investing in your local market one should think about making it as passive/hands off as possible.Not right away but over time for sure.As the cliche saying goes "Working on the business and not in the business"Investing in real estate shouldn't just become another job.Easier said than done but still, this should be every investors focus IMO.Happy Weekend bro 🙏 there was a case where an Aussie citizen decided they were going to save money and come to detroit to do their renovations themselves.. got in a arguement with someone and boom shot dead.  

Licensure and experience: Make sure to pick a firm with licensed engineers and tax specialists.

Take this 💥just-closed renovated property for example💥:With my query of "22757 Charlemont Pl, Woodland Hills, CA 91364 5/4/2400-3050,0.6,300" we get an ARV Estimate that is ~4% off, and I picked this at random just scrolling through recently closed in my areaAnd the Market Stats $/sf of renovated property in that Zip Code matches up pretty well, so I know the ARV estimate is realistic:You can also run Agent Stats to find/get in touch with the real top-agents in that area so you can triple-verify everything and/or list it with them when you are done.With the above, I am able to quickly vet every new deal that comes my way and spend more time on the good ones.

But in analyzing the numbers, my market it looks like I can pick up land for 35-45k, moving cost 15k, purchase of an older home and rehab 50k.