All Forum Posts by: Eduardo Cardena

@Frank Jiang

Hey Frank - when you put it as debits and credits, then it made perfect sense! Thank you!

@Wayne Brooks

Hey Wayne, Thanks for the quick reply! 

I see the 1.75% rolled into the loan and also a "PMI, MIP, Funding Fee" of 1.75% that I would have to come up at closing... that's what I'm referring and seems like a double charge.

Here is a pic, does it seem normal?

Hi There!

I'm purchasing a home and the lender has sent me over the estimated closing costs.
I noticed on the numbers they have a "PMI, MIP, Funding Fee" and a "PMI,MIP, Funding Fee Financed"

These fees are the exact same amount. I'm financing a FHA loan and understand about having the the MIP fee. I just think they are double charging.

What do you think? Any light on the matter would be great, thanks!

http://eepurl.com/bteQqz

6585 Somerset Dr #104 Boca Raton, FL 33433
2 Beds / 2 Baths 950 Sq. Ft. Condo/Apartment

Desirable area of Boca Raton. Rents going for $1200/1350 per month

ASKING $109,000

Access code: call for details

Recent Sale COMPS

6660 SOMERSET DR APT 107 BOCA RATON, FL 33433-7877
Last Sale: $139,000 on 06/10/2015

6552 ARLEIGH CT APT 108 BOCA RATON, FL 33433-7857
Last Sale: $136,000 on 05/29/2015

21950 SOUNDVIEW TER APT 102 BOCA RATON, FL 33433-7803 
Last Sale: $133,000 on 04/17/2015

21938 REMSEN TER APT 201 BOCA RATON, FL 33433-7862
Last Sale: $133,000 on 03/23/2015

Hey @Antonio Ferguson

The following are the events that I go each week.

www.DistressedReia.com first Tuesday of each month (Deerfield).

http://bocarealestateclub.com/ second Thursday each month (Boca Raton).

http://tropicalreia.com/ third Thursday each month. (Boynton)

Each  has a different dynamic so you get to network really good :) hopefully we can meet in person there, cheers!

@Jim Wilson 

Hey Jim, Why not reach to a noteinvestor and ask them how long they will require for the seller to hold the note "seasoning" before they could purchase it from him?

Explain the note investor your Terms and they will probably do their due-diligence and if they say (for example) 6 months, then go with seller and ask him if he can wait 6 months.

Note investor might want a discount on the note, but if you getting good price vs LTV, etc it could be an avenue to get the financing and later on pay off the seller.

Good luck, cheers!

@Glenn McCrorey 

Nice, Congratulations! Very inspiring :)

Hey @Ryan Tyler 

Welcome to BP - I'm also @ Florida and close to your Area.

Echoing @Edgar Collado 

Would be great to connect in person some day... Definitely a BP social for South Floridians will be nice! Best of luck with your plans, Cheers!

Hey @Brett Snodgrass 

From another post on florida title - Ryan Kopczyk is doing title mainly for investors here at Florida. I would give him a call to see if he knows more people also at Pensacola and perhaps that can help start building your team. I'm in Florida but at the Palm beach area (so too far for me) My wife's cousin recently moved Pensacola as her husband is in the army - apparently a big base over there, so those would be some of your target customers. Best of luck, cheers!

-Eduardo Cardena

P.S. I don't charge for typos. They're just my gift to you. ;0)

Hey @Nathan Rich 

Welcome to BP! I'm your "semi-neighbor" I'm in the Greenacress Area ;-)

I'm looking forward to do fix-flips... perhaps in the future could use your GC services.

Best wishes, cheers!

-Eduardo Cardena

P.S. I don't charge for typos. They're just my gift to you. ;-)