All Forum Posts by: Account Closed

Suzie … Inform your friend that if he does not know of any GREAT attorney here in South Florida, to contact me. I get no money from any professional that I recommend! I only do favors. Have him contact me.

Arthur,  so you know, we live near each other. In all fields in this world, knowledge is the key.   All I am trying to tell you is to keep and finish your college, take as many courses you can that relate to any and all areas/phases within the real estate business.  Go to public libraries or at your college and READ, READ, READ, all books and articles regarding your NEW field-of-interest.   Educating yourself in RE, is possible, but if in doubt ask.  Make sure you also educate yourself how to value money & the ins-&-out of financing.  

Always remember: when we where babies, we had to first learn to walk, before we could run! 

So start walking!   Many people that go 'fishing' in real estate lose every penny they own because they lack RE education and insight.  Learn the numbers!

Suzie, please inform your friend not to wait any longer to engage 'A REPUTABLE FORT LAUDERDALE REAL ESTATE ATTORNEY' especially since you stated 'the property was purchased via a bank loan'.  The question I would ask the attorney is why the 'bank' that provided the mortgage loan did NOT find this problem when the property was inspected as part of mortgaging process?   Your friend might have a good legal case.  …  Please keep us informed. 

Suzie, you are located in Seattle, WA; is your 'investor-friend' also living in Seattle, WA?

The BEST-LEGAL thing to do is to HIRE A REPUTABLE FORT LAUDERDALE RE ATTONEY! As-this-property is right now, no reputable insurance carrier will ever issue a policy!

1ST, has this 'friend' consulted a licensed builder-contractor to see IF this can be remedied by removing the illegal addition?   2nd … How was the property purchased?  Let this be a lesson to others.   If you do not know what you are doing, hire someone that does!

Jackie,

Have you considered 'teaming-up' with other in the So. FL area to invest?  Let me know.

Mina, 

SE Florida RE market is bit hot at this moment many people are buying/flipping properties and their

inflated asking prices are NOT what investors seek and need!   On the other hand, personally I am in the market in this area for multi-unit properties.  Whenever I get any good possible leads I will get in touch with you.  Meanwhile be very careful with your hard earned money!  Many scams in the works!

Hello Mary!   You are planning and thinking about property management, great!

Your dream needs  the proper license .... I have looked you -up with the DBPR,  and I cannot get to see you are!   The DBPR has no Mary Yasol in Ft Lauderdale, FL.  Yes they have , in LUTZ, FL 33558; as a RE salesperson ... if this you or not I do not know.   

I suggest that you place your RE License with an existing RE OFFICE and go after your dream with the RE Office Broker backing you!  As I see it right now, going at this 'venture' can be costly, and you need the proper contracts, insurance, etc ... you get the idea.  It is doable but competition is high! 

Good luck ....

Read what JD wrote ... but remember that "top-dollar tenants" depends on LOCATION< LOCATION!  But go ahead advertise the rental, when people call or come by just explain. 

$100k cash?  This can open many, many doors!  In Florida. "Downtown Las Vegas" I do not know the market there but from what I have heard, the two markets are not alike!  I do not recommend owning property too far from an investor's eyes, ears, and or hands.    RE investments should be hands-on as much as possible, unless of course, money is no problem!  Good luck to you, you are doing well.  Be careful, there are many pocket-pickers out there!

Do not accept a penny!  If you do you lose!   The renter has to be informed by your attorney that he/she is your representative and everything is handled by him/her!  Your position is hands-off any money!  Unless of course you want this renter to repeat this whole thing!