All Forum Posts by: Bradley Sriro

Hey @Antonio Galofaro welcome to Bigger Pockets! I agree with @Nat C.that you will have to be more specific. What are you looking for? Single Family, Multi-Family, Condos, etc. What is your price range? What are you looking to do? Flip, buy/hold, short term rentals? 

I just bought turnkey with JWB Real Estate Capital in Jacksonville, Fl. I decided to invest there because it is almost impossible to cash flow with single family homes in the South Florida market. I have been happy with JWB so far. They have been extremely responsive and professional. They COC returns in Jacksonville are decent but I like the fact that it also has consistent appreciation. If you want more information, send me a direct message. You can also search for JWB and you will find plenty of posts and feedback about them on BP. Best of luck in your search!

@Nicole Sugrue I agree with @Theresa Harris in that those are personal questions to be worked out amongst your family. 

Regarding a Florida attorney recommendation, I used Solkoff Legal to handle my Father's affairs and I was very happy with their services. I would highly recommend them. Below is a link to their website.

Solkoff Legal

@Frank A Castro Sounds like a good plan. Make sure to try out the BP rental property calculator under the tools tab. It is a great resource to quickly analyze deals. 

Yes sir, born and raised here. Are you investing in small multi-family (2-4 units) or on a larger scale? 

@Frank A Castro no worries... If you ever need help with anything in South Florida, let me know. 

@Frank A Castro welcome to Bigger Pockets! What type of property are you considering for your first investment? 

@Nicole Sugrue, I agree with @Bonnie Low regarding having an attorney involved. You should probably consult with a real estate attorney that has experience with estate planning or vice versa. If your siblings are ok with your plan, it should not be that difficult to work out. Putting the home into a trust would probably be a better option than an LLC.

In terms of "assuming the mortgage", most mortgages are not assumable. You would likely have to obtain a new loan... or you could explore the subject to option where the ownership of the home is transferred and the existing loan stays in place. You just have to be careful with this because this could technically trigger the due on sale clause and the lender could call the note due in full. In my experience, I have never seen this happen... but it is a very real possibility. If they did call the note, you could simply obtain a new loan at that point. You could also explore using a land contract, a wrap around mortgage, or some other creative strategy. Don't forget to consider any tax implications that may come from any change in ownership. I am assuming that this is there Homesteaded property and being that they have lived there for over 25 years, their property taxes are likely very low. A change in ownership could cause the taxes to jump considerably. I do think that any option that would allow your parents to comfortably age in their home is a great idea. The Florida Keys are beautiful and I am sure your parents would love to stay there! I wish you the best of luck!

I agree with @Wayne Brooks 100%. Coral Gables is a very expensive market and doesn't sound like an area that has anything to do with what you are looking for. A new build in Coral Gables is going to run you at least $250/sq. ft. and the cheapest lot for sale in Coral Gables right now is only 4450 sq. ft. and priced at $325,000. 

Cheapest Coral Gables Vacant Lot

What exactly are you looking for? Single Family, Multi-Family, desired purchase price range? With the current state of the market, finding a "deal" on the MLS from an investor's perspective is challenging in South Florida right now. Are you looking for something to flip, buy/hold, house hack?