All Forum Posts by: Elizabeth Maille

I know this category says Miami, but I'm reaching out to all of South Florida and thought this would be a good place to start. 

I’m hard working and motivated young real estate investor in the Fort Lauderdale area working to start a Property Management company in here in South Florida. My business partner and I have experience in managing properties and are eager use our skills to begin our company. We both have taken and passed the Florida pre-license course and final and are currently in the process of getting our Real Estate Sales Associate licenses.

We are currently looking for a Real Estate Broker in the area who will let us start a Property Management Company under their license. We would take care of forming the LLC, Articles of Confederation, website and all other aspects of planning and managing the business. We would pay the Broker monthly, the perfect opportunity for someone who is looking for a passive monthly income.

We already have 7 properties that will commit to us and are ready to move forward in our planning. Please let me know if you are interested or know someone who might be. 

Thanks,

Elizabeth

I’m hard working and motivated young real estate investor in the Fort Lauderdale area working to start a Property Management company in here in South Florida. My business partner and I have experience in managing properties and are eager use our skills to begin our company. We both have taken and passed the Florida pre-license course and final and are currently in the process of getting our Real Estate Sales Associate licenses.

We are currently looking for a Real Estate Broker in the area who will let us start a Property Management Company under their license. We would take care of forming the LLC, Articles of Confederation, website and all other aspects of planning and managing the business. We would pay the Broker monthly, the perfect opportunity for someone who is looking for a passive monthly income.

We already have 7 properties that will commit to us and are ready to move forward in our planning. Please let me know if you are interested or know someone who might be. 

Thanks,

Elizabeth

I would recommend looking for properties FSBO, I have used Craigslist before and ask if the seller would consider owner financing whether or not it is advertised. You would be surprised to see how many people have never thought about it or have been trying to sell for awhile and are willing to consider other financing options. My business partner and I ended up getting funding through a bank for our first deal(which we close on shortly), but as we looked for deals we contacted many owners, most who hadn't thought of owner financing, and got a surprising about of interest and I am also in FL and looked mostly in Broward and Palm Beach Counties. You never know if you don't ask! While some said no and others wanted larger down payments, many were willing to entertain the idea of smaller down payments. Good luck on your search and let me know if you have any questions!

I could create a long list of what is holding me back but I know they are all excuses. I have recently begun tackling these excuses because I know success is my only option. If I don't put the time, effort, risk and energy into real estate because of my fears, inexperience and financial road blocks, I will never gain the rewards. I am a firm believer that if you want something badly enough, you will find a way to get it no matter what. I am in the process of closing on a 7 unit deal (my firs!) with my business partner and I almost missed out on it because I was letting banks tell me no over and over again and I was struggling with coming up with half of the down payment. My business partner kept telling me to ask family but I have a lot of pride and didn't want to ask and kept making excuses that my family didn't have the funds. I had talked to my mom and it didn't seem like they were going to be able to loan me much. A couple weeks later I made a sarcastic comment to my dad and next thing I know he made some sacrifices with his business and my parents were able to loan me a good portion of what I needed. Talking to banks was way out of my comfort zone and asking my parents for money was even harder but if I hadn't I would be missing out on this fantastic deal.

I have decided it is time to fully commit. No excuses. Each road block I hit, each friend/family member/person that tells me I'm crazy or I won't succeed is just fuel to my fire. It forces me to become more creative. While I am at the very beginning of my real estate career and I know I have a lot of challenges ahead of me and a lot to learn, I'm done letting myself hold me back!

I'm not sure if all states are the same, but a former coworker from Vermont bought a condo that she says is haunted and the seller didn't tell her. She did some research and found out that someone had died there and that the seller wasn't required to tell her this unless she specifically asked. If asked, you are legally required to disclose. That being said, Vermont has an extremely low crime rate and there aren't a lot of deaths in homes. I would check the laws in that state and see what they are as it probably varies state by state if you are required to disclose a death.

Welcome to BP! I just moved from Vermont this summer and am new to investing as well! I find the podcasts and blogs a great place to get information on different aspects of investing. There are many different ways to go, now is a great time to start looking at your options and figure out what direction you want to go and gaining as much knowledge as possible! Joining BP is definitely a first step! Let me know if you have any questions, I originally started my investment search in the Burlington and surrounding areas before deciding to move to a warmer climate and am familiar with the area.

I agree! I am a new investor and while I use BP to gain a lot of my knowledge, I am always surprised by some of the questions asked. If I can't find an answer on BP I Google it first before asking anyone here. The best part BP blogs or forums usually pop up in my Google searches with great answers! So much easier than trying to dig through posts on my own and much faster. And then I'm not wasting anyone else's time:)

Thanks for your comments. To clarify it would just be my business partner(who I've known and worked with for a few years) and I investing in the property, 50/50. There are 7 units and the cash flow is fantastic. We've run the numbers and the current cashflow (before the scheduled rent increases) can support the financing on the property, my loan payments and we would have a significant amount left over. I need a loan to cover the rest of the down payment nks for your comments. To clarify it would just be my business partner(who I've known and worked with for a few years) and I investing in the property, 50/50. There are 7 units and the cash flow is fantastic. We've run the numbers and the current cashflow (before the scheduled rent increases) can support the financing on the property, my loan payments and we would have a significant amount left over. I need a loan so I am contributing 50/50 with my business partner. Does that make sense? Do you still think it's a bad idea? The numbers make sense to me and I've analyzed them several times.

I forgot to mention that I have applied for smaller loans as well knowing that it would be hard to get a large loan. I am have applied for loans ranging from 5,000-25,000...

Hi Everyone, I am a 23 year old new to investing. I have an amazing opportunity to be apart of a 7-unit deal with great numbers and I have half of the money I need saved up but I still need 25,000 more for my part of the down payment. My credit score is just under 700 but my credit history is short and I keep getting told "everything looks great but you credit is too young". I've had student loans for 46 months (just shy of 4 years), got my first credit card 7 months ago and have gotten 2 others since to build up my credit score. I tried having my parents co-sign but it didn't strengthen my application enough to approve me for the amount I need. I am a teacher and make 38,000 a year and I have little debt, my DTI is about 16%. I also don't a pay stub with me because I'm on summer break and I'm investing out of state in Florida(with the intention of moving there) and wasn't thinking about bringing one when I came down here. I do have 2 years of tax returns which works for some places but for a bigger loan most places are requiring pay stubs. I can't get hard money because of the financing for the property. Does anyone have any advice on where I could get a personal loan (or any other solutions) for around 25,000 ASAP? I've tried credit unions both in FL and VT, a variety of banks and a large variety of online sites (Lendingtree, Lending Club, Prosper, Avant and many others). Any advice would be appreciated! I would hate to lose this opportunity because the numbers are fantastic. I read BP daily and know there's a wealth of knowledge and experience here so I thought it was worth the shot to see if anyone had advice! Thanks in advance! Elizabeth