All Forum Posts by: Alfred Costanzo

Hi everyone,

Trying to get approved for a vacation home mortgage 10% down. My last 2 years of income (2019 and 2020) have a big differential. I'm a 1099 not a W2 so I because my current DTI I am not able to get approved for the price point I would like. I am house hacking, currently making money, rent 3,800 and mortgage is 2,800, but from what I've been told rent cannot count unless it's been going on for more than a year. Just bought this home 3 months ago.

So I am hoping someone knows a lender that doesn’t average last 2 years of income or could count rental income before that year. I know that is typical but I’m sure there is someone out there that does not. Been applying to a couple lenders but I figure I’d send this post out and if anyone has a lender that has helped them with a similar issue. Thanks!

Hi Everyone,

I’ve been looking to network with people in the miami ft Lauderdale area. I am currently house hacking a house in Miami Gardens and want to expand my rental portfolio further.

Anyone have any suggestions for certain real estate meet up groups?

Open to connecting with people in the area, grabbing a cup of coffee ext.

If anyone is interested or has a group meet up I would love some info on that and start meeting some other investors in south florida.

Thanks!

@Tchaka Owen hey Tchaka, so do you run a risk of having the permits being pulled and then you may have to redo the whole bathroom or wall ext. I’m sure it goes town by town. Almost bought something in Plantation and they were saying essentially nothing could happen or we may have to tear down a whole bedroom and bathroom that was not on the records. Has it been all good experiences?

Hi Everyone, I’ve been searching for my first house to house hack in South Florida. Not sure if it’s just the market right now but it seems a lot of properties are not fully permitted. As in a Florida room converted to in law. Extra bathrooms and bedrooms not permitted. Not sure what consequences there may be if you buy a property not permitted. Is this something not to worry about or something to take into careful consideration?

I’ve been seeing this a lot with houses that have mother in laws on them. Which would be an ideal property to house hack.

@Stetson Miller thank Stetson, I guess my next question would be Lehigh heights, How’s the area?

@John Thedford thanks John, is there a way to see what areas they’ve put in water and sewer already? I’d imagine the city would have some sort of map.

@Peter Davis Thanks Pete appreciate it, you really need to get out of the maim town to get out of flood zone limits it seems

@Charlie MacPherson

I have heard of this and is something that’s on my radar! Thanks

Hi Everyone!

I am currently in the Miami area. I have been looking at areas to invest within a couple hours drive and the Cape Coral Fort Myers has peaked my interest. It seems number wise, this area does cash flow better than Miami. ultimately that is the goal for now, to cash flow to cover living expenses. I do plan on buying houses in Miami (house hacking) but I wanted to get involved in another market as well that can cash flow a little better than Miami’s market.

My question is there anything I should be staying away from in the fort Myers and Cape Coral area? Also looking for a real estate agent there so any suggestions on a great one that would be fantastic!

My next step is forming a team over there in Cape Coral/Fort Myers and plan on buying a rental this year. Exciting stuff but looking forward to hearing some opinions of people who invest there already.

Thanks!

@Kirk R. That is true, I would have to up the amount of money in emergency and repairs depending on the amount of units. Most Likely I will be getting a duplex or mother in law single family.