All Forum Posts by: Chris Payne

Here are fair market rents in Miami-Dade County for those who are interested.

https://www8.miamidade.gov/global/housing/fair-market-rents.page

@Francisco Rivera Feel free to PM me. 

@Jay H. I'd also like to know how things ended up. Did you move the convo to the Pro Forum?

This is one of the best threads I've ever read on BP as it walks through a deal from conception to purchase over time with plenty of room for commentary and response. Well done.

I'm eyeing a duplex in Binghampton and running the numbers. Does anyone know what I can expect to pay for my insurance policy? It's a 2/1 on both sides and it's rented.

Does anyone have an idea of the ballpark insurance rate on a duplex (2/1 both sides) in Binghampton? The property is rented.

@Steven Anderson I haven't gotten any information. I tried reaching out to realtors there, but they were a bit flaky. For vacation rental data, specifically AirBNB, https://www.airdna.co/ is solid. 

@neal hinson  The kicker here is income. If you have a full-time job, the signature loan will work. If you're an entrepreneur and you don't show much income, you're probably out of luck. 

Really great information here! Thank you to everyone who's commented on this thread. Special thanks to @Michael Blank for the capital stack example. I had no idea how LIHTC worked or benefited developers and this example gave me a quick, high-level understanding. 

@John Quiles I'm interested mostly in the rental rates. What does a 1/1, 2/1, and 3/2, go for for in Santurce? I'm mostly interested in using AirBnB, but I always buy with a backup in mind. If the numbers work for a long-term tenant, then I'll feel more comfortable trying AirBNB knowing that I can put a tenant in if AirBNB doesn't work for me.

@Newton Hinds I'm in the same boat. Hoping someone can chime in about financing and rental rates in the Santurce area of San Juan.