All Forum Posts by: Eunice Villarroel

I own multiple properties, mainly here in south Florida, a few million in equity. Yet, I feel like a failure…. I feel like I should be looking for bigger investments yet I’m comfortably investing in small multi family and single family homes here with high equity build potential but very low,if any, Cashflow. 

I guess I’d like to learn more about investing in bigger commercial deals….. what are the requirements? How do I know I’m ready? How do you make connections with these owners and pitch to them? Please help 🥺

South Florida investor here. I'm so glad you are asking this question, very few people do and get the shock of a life time. For the most part (particularly Fort Lauderdale and Miami) requires permits and inspections of your str. 

if you operate it without having the permit you can get heavy fines and get shut off. If you are trying to convert a property under and hoa into an str, your job gets even more complicated as the HOA itself may have its own regulations IF it even accepts it at all.

caution: STR market is over saturated in these parts and some of them are shuting down and being converted into corporate housing, mid term rentals, or furnished long term rentals. You better have a strong plan 🫡

Depends on your goals. 

refinancing is basically starting over with a new loan. If you locked in a better interest rate when you bought the house then you might end up loosing it  and replacing it with the current higher interest which could cut into your cashflow.  Cash out refinance is usually recommended if you are lowering the interest rate. You also have closing costs associated with it and you are only able to pull out a certain amount. I doubt you could pull out much with the amount of equity you have at the moment 😔

Helocs have higher interest rates but it works like a credit card. You pay interest on what you use,usually. This one is more recommended if you are thinking of doing a flip or a temporary investment since it doesnt have long term effects like the refinance. 

If in your position, I woulf sit down with a GOOD loan officer and talk options that align with my goals and see how we can make it happen. Best of luck 😊

If I did it I would drive around my neighborhood and drop off notes in front of houses that look like in disrepair. Take note of address, find the owner and see if they would be willing to sell. Hope this helps 😊

Hello, I was looking into investing in a multi family LTR OR MTR (maybe 15units +) in St. Petersburg, Florida. BUT I HAVE NEVER BEEN THERE BEFORE. For those investing here or that live in this area, do you think it's worth it? Are rents stabilized, declining or going up? What are the best areas to look into? What are you seeing in the market over there? What is average cost/SQFT there like for a multi family. As a real estate agent in SOUTH FL, I don't have access to the MLS on that area and I'd rather be represented by an agent there anyways since I lack enough knowledge of the area to trust myself in making a good decision lol, so if you are an agent there please reach out, as well. THANK YOU.

Hello, I live in South Florida and have been thinking about purchasing a flooded property in south Florida. It is in a flood zone. But it is in an amazing location Close to the beach and downtown. The whole area got flooded recently, first time in 50 years. Not sure how that affects house values. Please advise

Hello, very new to flipping but I found a great deal and think now it’s the best time to start. The property will go into auction in a week. 10% down due on site and full payment required in 30 days 

SHOULD I SEEK OUT FINANCING  BEFORE OR AFTER AUCTION?

Also, how could I go about getting this deal financed? I have properties with very strong equity I could use as collateral. I know refinance and heloc are options but I have a 3% interest I do not want to lose and I ve been getting rejected on heloc for investment properties.

any help would be appreciated

You can hire a NY real estate attorney to draw up the paper work and consult a title company for recording deeds of ownership. Some title companies work with and/or can refer good real estate attorneys so I would start there. Good luck! 

I’m in the process of growing my real estate portfolio. I purchase One primary residential house per year. is there any way where I can take advantage of the homestead tax exemption ? 

Hmmmm…first I want to understand . Ok so you own house #1- primary. You want to buy house #2- investment 20% down. Then you want to buy House #3- primary 5% down and after that sell HOUSE #1-primary?