All Forum Posts by: Erick Torres

Hi Peter, the title is currently listing her name and the two daughters. But she's changed her name so it's a trust that gets passed to me once she passes.

My thought was perhaps buy-out the older daughter, and since I'd be receiving her share of the home anyways, I'd end up having 2/3

Good afternoon all, thank you in advance for your time and responses. Simple question here...

There's a family property where a grandparent currently lives in. The property, in the event of her passing, is in the name for her two daughters, and myself (listed in as a Trust so I receive her portion). The grandmother and the oldest of the daughters have agreed to allow me to receive the house and raise my family there in the future. However, the youngest daughter is a wild card and poses an issue when it comes to me receiving it.

What are some suggested ways to ensure that the current owner, who wants me to receive the house, is able to successfully edit the ownership to make me the sole owner?

Can we A) simply edit the deed to list only my name, B) perhaps I buy-out the oldest daughter and grandmother to receive majority ownership and (worse case) stronger leverage should the younger daughter try to legally complicate matters, C) anything else?

The emphasis for me here is that the home is paid for. No mortgage on it. It would allow me to flexibly raise a family and even better, it's my childhood home and where I grew up. If 2 out of the 3 people who also share ownership are OK and support me receiving it, what maneuvers does anyone suggest to anticipate issues with the 3rd person?

Thanks again! 

@Francene Iaizzo Thanks so much for the advice. And yes! I would love to be connected with any reliable real estate agents in the St Pete area. I look forward to your reference! It's much appreciated..

Good afternoon all - I'm looking to purchase a few different property options in St. Petersburg, FL. I currently live in Miami with my wife, and we have two properties between us (one investment condo and the townhouse we live in). St. Pete is the city we went to college in, and would love to retire in. I had previously thought of purchasing in another state like North Carolina or Ohio, but this a better idea due to being close enough where I can visit frequently, and it's a place I can live in myself one day.

My question is, what are some things to consider before I look to buy a home in another city? Should I locate reputable Property Management Co.'s in the St. Pete area? Should I make sure I have enough money saved up to cover me for a few months in the event I'm not able to immediately rent out the property and am stuck with another mortgage payment? Etc. The more detailed the better! Thanks!

Good afternoon all and a (pre) Happy New Year!

I have found myself more and more interested in climate change recently and would like to gather the thoughts and opinions of some of my neighboring real estate investors on how you all think climate change will affect the RE market in Miami. Sea levels rise here between 3-4 mm each year, and the majority of areas like Miami Beach and other coastal properties are expected to be either underwater or near it by 2050.

I have one condo, but it is more inland near on Coral Way and 35th ave. But if I want to invest into future homes for myself and my family, how would you approach this? I presume this is why so many people are buying more up north for higher ground (North Carolina, Tennessee, etc.)

Thanks!

Hello BP members - I'm a beginner-level investor in Miami and currently have owned my condo for 3yrs. It's currently been on the rental market searching for tenants since last week, as I search for another property.

My question is, what do you suggest is a better/less maintenance investment - another condo/apartment, or a single family home? I don't have any partners, so that's slowed my ability to add to my portfolio and is the reason why I think I should consider buying something more affordable like a foreclosed or not-foreclosed condo that would be easier to keep after than an actual house (especially if I decide to immediately put it back on the market as a rental property instead of living in it).

Thanks in advance!

Hi all. I am a condo-owner in Miami (2 blocks from Coral Gables). I also own a third of a 3-bedroom near University Park/Westchester, and a third of a lot (same area) that is currently being rented out to a landscaping business.

I plan to see my condo out until I own it outright and am currently looking into buying a potential final-family home in South Miami, Dadeland, or Pinecrest. A friend suggested I join this forum for tips and details on escrow, renovations, renting out, and property taxes. I'll be checking this periodically as well as the podcasts.

Thanks,

Erick