Dec 2, 2019
In this episode, our guest Daniel Jaramillo gives us his take
on the South Florida market. The low caps are making finding deals
more difficult, but they are out there. And although prices remain
about the same, it is taking longer to make deals. Also, the South
Florida market is changing, and suddenly it is making sense to do
construction again.
Daniel has an interesting perspective since he deals not only
with domestic investors, but also with both foreign investors,
particularly from South America. Some of his advice for
foreign investors (and domestic investors) is to do your due
diligence before spending money on investments, especially if you
aren't familiar with the area. And, don't make the mistake of
thinking you don't need property management just because you are
buying condos and think that is less of a risk. Also, when you're
first starting out, sometimes the best way to get a deal done is to
partner with someone.
Key Discussion Points
[05:05] How did you get started in real estate?
[08:16] Overview of the Miami Market
[11:26] For multifamily, what types of cap rates are
investors looking for in South Florida
[14:54] What mistakes are investors making with regard to
property management?
[18:17] What are some of the data points you look for
that convince you this might be a deal to consider further
[23:09] Discussion about syndication and the best way for
people to get started with it
[35:55] Are the low cap rates creating opportunities for
construction?
[38:21] Opportunity Zones
[42:19] Eric & Steven's concluding remarks