NOTE: Click here for the English version of this post.¡Hola a todos!Nunca pensé que sería un inversionista inmobiliario. Siempre fui más de alquilar, y no creía
How I Got Into Real Estate in Miami
Dated: July 17 2023
I never thought I would be a real estate investor. I was always more of a renter, and didn't think I had the financial resources to buy a property in Miami. But then, during the pandemic, I had an aha moment.
I was talking to my friend Daniel, and he was telling me about his success in real estate. He had bought a few properties and was now renting them out, and he was making a lot of money - in equity, appreciation, tax benefits and cash flow. I was intrigued, and started doing some research on real estate investing.
The more I learned, the more excited I became. I realized that real estate could be a great way to build wealth and financial security. I also realized that it wasn't as difficult as I thought it would be - as soon as I bought my own property.
After doing my research, and with the help of my friend David, I decided to take the plunge and buy my first house, a beautiful three-bedroom, two-bathroom property 5 min away from the famous Hard Rock Stadium in Miami - home to important events like the F1, Miami Open and concerts, among others. My house has a ginormous living-dining room and kitchen area with large french doors for plenty of light and easy access to the large backyard - a dream come true. I decided to rent the house because it was the best financial decision and my tenants have been paying the mortgage for me ever since.
On the side, I have been doing some "rental arbitrage," which has allowed me to live RENT FREE and reroute some of my income to investments.
It's never too late to have an aha moment and start thinking differently. I have had the amazing opportunity to meet with a few friends and share my financial journey and decisions and hope nothing but the best for them. Some of them have started making the right steps and are getting ready to buy their own properties and I couldn't be happier for their future.
If you or someone you know is interested in buying, selling or renting, I am here to help. If you don't know where to start and want to hear about my experience, let me know. I'm always happy to share my growing knowledge in the matter - however, know I am not a licensed financial advisor.
While you get ready to make the biggest decision of your life, here are a few tips to help you get started:
Get pre-approved for a loan. Before you even start looking, let's get you pre-qualified or pre-approved. This will tell you how much of a property you can buy based on your savings and financial picture so you don't waste your time looking for $3M houses when you could only be approved for $700,000. I have the right contacts who speak English and Spanish to get you pre-qualified in Florida.
Do your research. Before you buy any property, it's important to do your research. Learn about the different types of properties, the different markets, and the different investment strategies. Here's where I will help you - we'll connect 1:1 and talk about your objectives.
Make an offer. Once we're found a property that you want to buy, it's time to make an offer. I will negotiate and try to get the best deal for you based on the market.
Inspect the house. We'll work together on getting an inspector to see the property and catch any issues your potential property may have.
Close the deal. Once your offer is accepted, has passed inspection and been appraised, it's time to close the deal. This involves signing a lot of paperwork and transferring money. It sounds scary, but it's not. I'll handhold you through the process.
Manage your property. Once you own a property, it's important to manage it properly. If you want to rent it, this includes finding tenants, collecting rent, and maintaining the property. No worries, I've got you! I can list your property for rent and give you the best recommendations. I also have a team of plumbers, electricians, roofers and handymans that can help with any surprises. - If you want to put put in on Airbnb or other short term rental platforms, I've got you. Don't forget I'm a five-star Airbnb host and have been doing this for four years - read my reviews here.
Real estate can be a great investment, but it's important to do your research and be prepared before you get started. With a little planning and effort, you can achieve financial success through real estate investing.
Ober Delgado is a bilingual real estate professional in the state of Florida with a background in public relations working with world-renowned brands. Within the realm of real estate, Ober ....