All Forum Posts by: Cassie Montalvo

I took my classes through Gold Coast and did all their practice tests on each chapter about a dozen times. When I took the test I laughed half way through about how easy it was. Also, the math on the state exam is WAYYYYY easier than the math in the study books so don’t stress over that part too much. Good luck

Hi Lyle

South Florida is a super crowded market for investors, but don’t get discouraged, there are always deals to be found if you look hard enough.

I’m in Boynton and invest throughout Martin, Palm Beach, and Broward County - I avoid Miami simply because I don’t want to drive down there.

I’m an RE agent that also works with investors so let me know if I can help; I was born and raised in this area so I know it well.

Yes, on multi family or tenant occupied units it is standard. It’s weeds out tire-kickers and prevents the tenants from being constantly disrupted.

I would get new cabinets from a place like The RTA Store online (the big box stores are garbage, IMO). Granite is also super cheap nowadays and very durable. I can usually find used stainless steel appliances online for a couple hundred dollars a piece. 

I agree with the others - do a slightly nicer kitchen and charge more rent. The place should also rent out much faster.

I hope to one day have enough properties to use Appfolio (I think they have a 50 unit minimum) but for now I use Cozy and I have not a single complaint

I am part of RAPB + GFL and I see people selling interest in their contract. I am not sure if it’s allowed, but it happens. I would just call the board and ask what their policy is. 

I have done this with this same exact scenario (except for the dollar amount). I bought the house, held enough back in escrow to cover x-amount of months rent, plus y-amount for time and legal fees for eviction (should that possibility occur), plus z-amount for potential damages (once again, should it occur). Plus, I put in the lease ends in #-days and if the tenant stayed longer the rent automatically went up to $$$ per day (as incentive for him to GTFO should he get too comfortable). 

The contract was also crystal clear that I would deduct any and all fees from the escrow holdback and then he would get the difference after he moved out.

PS, have a lawyer draft this for you since you need to comply with landlord-tenant laws in your state and there a lot of moving parts to this sort of addendum.

Final thoughts - I love offering this option to people when buying a house. They don’t feel rushed and get their money fairly quickly.

Which purchase agreement /contract did you use? 

The FL “As Is” contract, P2, Paragraph 6: Occupancy and Possession... is paragraph 6b checked? IF NOT, READ PARAGRAPH 6a: “Seller shall deliver ... Property to Buyer free of tenants...”

@Alice B. if you want to see more pics of SW Drift of Mist, look up the listing photos for “22766 SW 56th Ave, Boca Ratón, FL” 

^^ that house came out really nice on the inside with that color

@Alice B. I use this interior paint color all the time - SW Drift of Mist.