All Forum Posts by: Andrew Hernandez

The Mrs. and I are looking to get a primary residence and I have been considering these floor types. There's a wealth of articles that describe their poisonous gas emitting drawbacks. Do you guys know anything about that? I wouldn't want to expose my toddler or dog to that.

Friends. I have a situation where I am keeping my tenants security deposit and I would like your opinion on whether it is justified. On or around 30 days before expiration I called them to renew. They wants to go month to month, I said no and gave them a 6 month term and raised rent by $75/month. They signed the lease. A couple weeks later they told me they were leaving at the end of the following month. I told them that leaving early would put financial constraints on me, but that they could leave if and when I got replacements. They said "30 days is sufficient in real estate". Kind of left it at that. Now they are gone, I was able to lease with a 7/1 start, and I am sending them a default letter drafted by a lawyer friend.

There was a bit of damage, but nothing crazy. The rent was $1,975 with a $2,500 security deposit. I am claiming damages of 5 months potential rent, my time scrambling to backfill, actual physical restoration, and legal. I offered to settle for $2,500. Fair?

@Jason Brown @Pedro Ramos

@Pedro Diaz

@Pedro Ramos @Jason Brown Me too. We can coordinate meeting or sharing ideas via group text. Let's exchange info in DM.

@Jaime P. Glad I am not the only one who thinks that about the Miami market. There are deals to be made, but oftentimes I feel like those in Texas and other markets may have a smoother road. And if you don't speak spanish, it's over.

Bienvinido a Miami @Jason Brown :) I am a fellow 305-er currently located in Kendall. I am looking to buy and hold.

Hi Guys, saw this thread pop up on my daily "Miami" keyword search. I'm a long time Miami native with two rental properties and would really like to acquire one more this year. Ideally an off MLS ready to buy and hold deal. @Alexandra Reynolds, if you have any properties you've got under contract I'd love to take a look.

Nice to meet you both!

Hi @Ronny Gonzalez. I am in Miami as well. I actually just went through the HELOC process with University Credit Union. If you've just gone through the home loan process, then a HELOC should be a breeze. But yeah, if you only have 20% equity in your new place, you may have to wait for some more principal paydown or appreciation.

Hi @Denisha S. I am a noobie investor in Miami as well. Both my properties were formerly my primary residences. It is a hot market, but I think there are still locations where it makes sense to invest. Be sure to set up key word alerts for "Miami" or whatever else it is you are interested in so that you are notified when they are discussed.

High prices are making it difficult to achieve the 2% rule or even the 1% rule. You may want to look further from the city. Newer condos in Homestead are reasonably priced, as is Miami Shores. Driving for dollars in established neighborhoods is also a consideration (Palmetto Bay, Cutler Bay, South Miami). I am currently looking to split a duplex/tri with a friend as you usually get paid more rent/sq. ft.