Just a regular guy enroute to building a real estate empire.
Where The Heat Play.
Joined August 2010
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David Moreno retweeted
"Real estate only goes up."
My rental portfolio is down nearly 30% from its '22 peak.
Equity tanked. Cash flow held steady.
All fine and dandy til you're forced to sell or refinance.
Good reminder for the cowboys who max leverage everything.
Between rentals and flips, I’ve got close to 40 properties in Miami right now.
With all this rain, I only got one leaky roof message over the weekend.
Luckily, it was a buddy asking about his own house. 😂
Something interesting about Miami’s housing market.
People come here from all over the country for higher education and professional opportunities.
Many end up building their lives here.
That’s a demand driver for neighborhoods like Coral Gables and surrounding areas that doesn’t get talked about enough.
Sometimes I don’t understand this market, a buddy of mine, picked up his house for $440k he added central air, touch ups around that house and a reroof. Placed it on the market at $628k went pending in less than a week. Still can’t believe it
Participated in my first bankruptcy auction today with @PropHunterB for a 7-property portfolio. We were the stalking horse bidder, but it didn’t go our way. Would’ve liked to land this one, but there’s always another deal.
David Moreno retweeted
Fun fact:
Downtown Miami 🇺🇸 is closer to the Bahamas 🇧🇸 than it is to the edge of its own metropolitan area.
Some of these wholesalers are getting desperate to unload deals they underwrote incorrectly from day one.
Your rehab budget is off. Your ARV is inflated. I still have to cover closing costs on the purchase, pay holding costs, and likely give the buyer a credit when I sell.
If nobody wants the deal at your asking price, maybe the market is telling you something.
My offer isn’t a lowball. It’s what the deal is actually worth.
Closing on this deal today after 10 LONG months under contract. Finally made it to the closing table.
Decided to drive by one last time before closing, and of course, the sellers still have a dog inside and left a pile of trash at the curb.
That trash and the tall grass is a big no no.
Got a little impatient last night and decided to post the new listing. Love waking up in the morning and seeing what traction has done overnight.
zillow.com/homedetails/10741…
My photographer just texted me the pictures for my flip our ready. 10 years doing this still get excited every time I list a new property.
Wholesaling isn’t dead.
Lazy wholesaling is.
Sending the same lowball template to every listing isn’t a strategy. Hopefully they integrate AI and they leave my inbox alone. It takes two seconds to realize all my listings are already flipped. Why are you sending me blind offers.
