EVERY SINGLE TIME when we listed out flips the house is under contract within hours of listing and  with $30K above asking price.Although the ARV said it would sell for $300K, our houses sell for  ARV + $30K... so if you do not take this into account, you will lose a lot of money you could have made.So ARV is both an art and a science, and it is a skill to acquire.

I’m currently looking into areas in Fort Lauderdale to acquire a property for short term renting and just trying to keep my options open to jump into.

If you’ve been at it a while you end up running through most scenarios in real estate investing.Single family rentalMultifamily rentalFix and FlipAnd the alternative methods to acquire the assetOPM- Other people’s money (partnering)Owner financedNo money downI am sure there are strong arguments for each camp as investors have been successful in each and many have done all three.

This is because at the time a fund is rolling out, you often will be asked to commit funds before seeing the specific deals that are yet to be acquired.

I live in New Jersey so acquiring my first rental property in the area will be difficult.

That is mistaken in most cases, properties acquired in such a manner are normally depreciable assuming that they are rented out and not re-sold via owner-finance or the like.Apologies if my info is mistaken and the podcast said otherwise. 

Purchase price: $370,000 Cash invested: $15,000I acquired my first investment property in April of 2020.

Generally posers will have a much shorter list, but, a capable handyperson can get a lot of stuff done with a Leatherman, 6in1 driver, measuring tape, and a flashlight, however, he will still have long list of tools that have been acquired over years of service.Ask about most difficult jobs they have done and how they did them.

Can you tell us about your plan to acquire the homes, and then how you plan to use or sell them? 

Also covid brought a flow of activity and a decrease in inventory with people from Atlanta acquiring in the area.