All Forum Posts by: Eddy Ramos

@Lien Vuong can you send me some information on multi families and/or single families in the area that you feel are of great value. I will be in that area in 2 weeks and can swing by

I am in the process of refinancing my home with my credit union that is based in another state. They are doing an in-home loan and therefore do not provide the capability to do any title closing, etc in the state of Florida. Looking for a reputable title company not not only will help in the final stages of my refinance - but also as I move forward and continue to purchase more real estate.

Looking to start building my team in Fort Lauderdale and will need to find a great team not limited to real estate attorney, accountant, lenders, title company, general contractor and any one looking to share some of their experience/mentor (I may not be as knowledgeable as I would like in real estate being a Newbie, however, what I do have to offer is Time and some financial backing - say some since I realize it is South Florida and seems like there is enough of it around). 

Thanks - looking forward to any referrals 

@Jingru Sui please reach out to me pertaining some of the other properties

I am interested in the area, and seeing what success investors have had and/or some downfalls that may have been experienced. I believe the area is a great investment opportunity and looking to explore a lot further. Feel free to message me if you want to share some more experiences or advice moving forward. 

Looking to seek the advice and feedback of those who work and navigate the area of Little Haiti, Little Havana and Little Jamaica in Miami, Florida. Has there been an uptick in the market as more and more individuals and developers seek to start developing more west due to climate concerns? Have read information detailing the rise and sea levels with most parts of eastern Miami being just a few feet (~4') above sea level. The higher ground seems to be as you travel more west with most cities due west and seeing somewhat of an uptick. 

Regardless looking to invest in these areas and particularly looking for multi family homes or anything above a duplex with the goal being a triplex or higher. 

Thanks,

Just joined BP within the last couple weeks. Have been reading multiple articles and have finally decided to post on the page. I purchased my first home last January in the Fort Lauderdale art district. Looking for like minded people who want to continue to grow their portfolio. Looking to hopefully add one and potentially a second home this year to the one I currently already have.

The downtown Fort Lauderdale and it’s art district are becoming too expensive to try and house hack without a huge financial risk up front. Seeing what others think or areas they have seemed as the downtown area continues to get ridiculously expensive for the average person.

Good evening, this is actually my first post and have recently (a little over 3 weeks ago became a pro member). I have been looking to refinance the house I purchase last January of 2019. At the time the interest rate was that of 4.75% since I was able to get it through my Federal Credit Union with a 3% down FHA Loan. In late February/Early March with interest rates low (were around 3.25%) I decided to try and refinance my home as some similar to mine were selling at what I needed for the credit union to consider 80% refinancing. I am looking to get out of the high PMI (~300+) in order to have 20% equity the home needed to be appraised at 380k and I would still come out of pocket for closing. However, after the appraisal came through it was noted below what 20% equity would be and believe that the credit union is a lot more stringent.

Asking around I have been told that I can refinance my home and reduce the PMI and the overall payment of the house by ~500+ dollars a month, which would be great. My question on refinancing would be, if I refinance my home (through my credit union or another avenue) would I be loosing out on acquiring an FHA loan to purchase another home this year. Would refinancing re-set the clock on me having to wait a whole year before being able to get another FHA loan? My plan this year was to purchase a second home and use an FHA (potentially) in order to house hack and rent out the rest of the home (was hoping for a triplex).

Can I refinance to lower my interest rate without losing out on using a second FHA loan this year? I continue to look up information but nothing has been clear so far. Have some mortgage lenders saying it is not an issue and would still be available, however, do not want to jump into it and push myself into a corner that would make me wait a whole year for my next home purchase.