All Forum Posts by: Robert Ehrlich

@Loretta Etienne, I personally will stay away from Condos because of HOAs. Even though you own the door the HOA owns the building and therefore has the final say on things like assessments. I think if you are a homeowner and willing to deal with the HOA it is one thing but as a buy and hold there are a lot of other obstacles.

Good Luck

Good evening Sharon, I do not have my CPA, however I have been an accountant for 8 years. I work for a private company in the morning, but work at Liberty Tax in Pompano Beach in the evening and weekends. If you would like to give me a call and see if I can help you are welcome to.

The office # 954-783-5353 ask Robert. If you I can not answer your question the owner the Liberty store is a CPA.

Hope to hear from you.

Robert Ehrlich

Welcome Brandon to the Site.  A lot of good information on the site.

Tavere as you know S. Florida is a good market for renting, but when it comes to the HOAs you have to make sure of the guidelines for the association. A lot of the HOAs have minimum owner occupy requirements or require a full background check for the new tenet by them. So these are things you may want to look at as well.

Just an update, I might have someone who is willing to provide me a personal loan. So I spoke to someone at my church who has rentals and he suggested that I offer 60K less than asking. Between the two I believe I could go with an FHA and re-work the loan. This deal is in God's hands.

Conner I reside in South Florida as well and been looking around.  I think the best thing sense you have some money to invest is to drive your area and see if you can find distress properties.  Also, I have reviewing Hud.gov. Being you have a father who is a contractor you might be able to find something there with great potential.

Good Luck!! 

Welcome To BP

@Kirk R. Thank you for your input. South Florida is probably even worse then VA. This is why I decided to ask B.P. For advise.

I am looking at a four-plex that is under foreclosure.   I recently walked the property and noticed the following:

A/C units and handlers missing (all units)

Hot Water Heaters missing (all units)

Minor plumbing work in kitchen (1 unit)

Possible Mold (2 units)

I have not see the roof but from looking at the ceiling does not look like any leaks. Asking price 199,000 and was thinking of Offering 150,000. I plan on using my military VA loan no money down and was going to see if I could qualify for 203K. I was going to live in one unit and rent the other three.

Opinions or suggestions??

What is your thoughts? Does anyone

Isaac, that is a possibility, I am actually meeting with the owner tomorrow to look at all his units.  He has 2 8-plex and 12 quad-plexs that he is selling. Depending on how the conversation goes will determine the next conversation.