All Forum Posts by: Remco Kuyper

Im about 50 miles south of NASA. There are more DOD and engineering companies down here(Harris, Lockheed, etc) so should be ok. Id rather start local before investing in places I cant see. Thanks for all the support!

I have 5% to put down. So that would put be right around 256K. Thats pretty much the max of what I can afford so im looking to put the closing costs in the mortgage.

I bought a home in Houston, Tx in 2005 and sold it in July of 06. So Im not a new home owner.

Looks like you sold at the right time. Do you miss palm bay, cant imagine you do too much
:D

My wife and I currently live in a condo. We are in the process of moving to a house, and renting our condo. This sparked my interesting in REI. My goal is to start acquiring properties and renting them out to generate some passive income. Starting out with condos or SFH and moving to larger properties. However, we dont have much cash so I've read that bird-dogging or wholesaling is a good way to start. We're 25 and 23, so not looking to get rich tomorrow but hopefully in our 30's/40's we'll have a decent portfolio. Theres no end to the information im reading here!

I've put an offer on a short-sale close to the beach in Florida. The owner has 370k left on the note, the bank is asking 310K and Im offered 270K. The appraisal is being done but I estimate the house to be worth around 320K.

Is it possible to get a mortgage for 280K(270K for the house, 10K for the closing costs) if the house is worth over 300K?

Or Would I have to close with a 270K mortgage and then refinance for more?

I plan on living in this house and keeping it long term.

I realize that the market is still going down, but I would have a 30/40K net. Any feedback is welcome.

Hi,
Im pretty new to the game. Trying to get the ball rolling. Anyone from around the space coast in Sunny FL?