All Forum Posts by: Erick Panger

first floor of a two story block building, I think 16 units per building if I remember right. Right across a road from Lake Osborne. 2 bed 1 bath small little thing. Maybe 1000 Sf. Tile Floor.

I own it free and clear other than the $235 condo fees. It's a 55+ community

I live in NJ don't know the area all that well. 

Worth keeping and renting out. For that matter are there opportunities in that area. I need more of a reason to be in Florida. 

I know Condos have fees and big maintenence things that come up so not ideal.

Would I be able to get a loan on this to get the cash out of it if I do keep and rent

Thanks

Erick 

Edit Typos 

I'm over in Cherry Hill just starting out too I'm focused on Brrr or buy and hold. 

So I'm transitioning from a position I've had for the last 17 years. I'd like to take some of the severance I'll get to get my Brrr business going. I'm in the Cherry HIll area. I have a good friend that is guiding me, he has 7 properties.

But I still have a million questions after binge watching the many podcast from this site on youtube.

I also just inharreted a 2 Br 1 bath Condo down in FL. It's free and clear and a value of 40-50K depending on how much I improve it. Needs kitchen and bath both very small. It's rentable but may be only seasonal. I'm thinking this would be a good candidate for a refi to get more capital. 

My todo list moving forward is as follows, Add to it I'm sure I missed something. I've already joined this site as a pro member. The calc tools are fantastic.

What till new year to form the LLC

Learn the rental market in Lake Worth Florida when I head down then in Jan

Last day at job Jan 13 2017 :)

Hope to have second property by end of March 2017

I may have access to an investor with a limit of 50K. I need to learn more about how those deals are structured and rates and pay back

TIA

Erick