All Forum Posts by: Dorian Weber

I shall have a look, thanks

Thanks for the advice - im not really wanting volume of numbers just to be able to find specific homes when driving for dollars etc. Can you use this service for specific homes or is it just a batch / list of numbers?

Hi

Not a wholeseller, just looking at ways to find owners of distressed properties I come across on my travels or phoning up expired listings without having to get in touch with the prior listing agent

I use the free versions of white pages, tru people. most of time the numbers are not working/old

Anything better you might recommend, I dot mind pay for a service but wanted to get the input from those out there

Thanks in advance

Any reason you want to purchase without your husband? Seems like the best way forward if it is a deal

I have had several people purchase sight unseen outside of a video / FaceTime call. Unless you are an inspector or know what to look for, walking the halls is more a "lets me feel safe"

Hire a good inspector and if need be throw them another $50-100 to go through the line items of the major things and get their opinion

But you dont need to walk the property yourself unless doing so brings value.

Ok - realtor here

Kinda confused about your situation - my .2. cents would be to stay away from condo associations as very rarely do Condos really cash flow well as you have an HOA fee to take into consideration along with a lot of rules etc

auction - if you have the cash you are fine if you have to finance you might be up the creek without a paddle (unless you do a hard money loan)

You cant go the FHA route as its a condo and more than 4 units

my suggestions would be to do the regular FHA multi family home loan on a quad - I believe in browards and dade the limit is around 775-780k on a quad

the market is crazy at the moment in suit florida so you are looking closer to a 5-7% cap rate on most multi families

shoot me a message if you need ore info or want me to run numbers for you im based up in west palm

Legit question - where are people buying $50k homes. I have 1500k burning a hole in my pocket 

At some point you want to ask for advice from people and yes that might included people who stand to profit in an area. You know what you know, and you dont know what you dont know.

The guy is asking for advice on areas, everyone here recommends an area especially realtors in those areas. If OP gets a list of 10 cities they can do some admin, run the numbers and see where might be a good fit. 

Question - chip it up and replace with gravel?

Realistically I would need to do that after I utilised any FHA program as I would want to keep that for a year and then start putting down 20%. As an agent initially the FHA loan at 3.5%...the commission on that should help with that downpayment as will my NMLS number. So that property will be very affordable out of pocket and wont take too much out of my savings initially. The 20% units on the other hand, will

For me, if I end up having to buy more than 90min/2 hours away from me I would most likely need a property management company anyway so at that point I dont see as much difference if it is in Tampa or Memphis. But im open to all opinions. the next 2-3 years is going to be the big movement for me and I need to maximise that time with the opportunity