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All Forum Posts by: Javier Marchena

Javier Marchena has started 1 posts and replied 161 times.

Post: SFH with Liens in Orlando

Javier MarchenaPosted
  • Investor
  • Winter Springs, FL
  • Posts 165
  • Votes 68
Originally posted by @Robert Kirkley:

Thank you for sharing this, and congratulations on the new rental!  While talking with an attorney, is it common to be able to negotiate the amount of the liens down?

 Hi Robert, 

Yes, and even without an attorney you can be able to negotiate a lien on your own.

Post: Main Sewer Line Replacement Orlando FL

Javier MarchenaPosted
  • Investor
  • Winter Springs, FL
  • Posts 165
  • Votes 68

@Lynnette E. I believe he is talking about the sewer line, not the potable water line.

@Matt Leber Cost will be determined on how much line needs to be replaced, how deep it is located and how much roots you will find on your way. Is this your property or a rental? Can you pull your owner's permit or you need a licensed contractor? 

Where is the house located?

Originally posted by @Allan Smith:

@Javier Marchena You are the guy for this question!

In TN, I can subtract from the deposit for unpaid rent, no problem.  So if I did the same thing you did, I'd offer $300 for her to move quick and clean, and then pro-rate rent out of the deposit, and then mail the remainder of the deposit to the tenant?

 Yes, as soon as the tenant is leaving you meet that person and exchange keys for cash, change the locks, and do an inspection with the tenant. Ask him/her her new address.

Later you follow your lease agreement on how to deal with the deposit. In FL you have some amount of time to send a certified letter with the deductions you are going to apply to the deposit and send the remaining back. Deduct owed rent if that is allowed on your lease (if not, you need to get a new lease).

@Allan Smith

I used cash for keys in a SFR I had with a long tenant that I inherit when I bought the house.

I offered $300 if she left a clean and empty house. That was less than the $800 for an eviction. 

Deposit is dealt as you wrote in your lease agreement. 

Post: Would you rent to someone who had a past eviction?

Javier MarchenaPosted
  • Investor
  • Winter Springs, FL
  • Posts 165
  • Votes 68

In today's market you can always find a tenant with no evictions. 

I will look at the whole picture. At the end I will rent to a tenant with a previous eviction if he is able to put down first month, last month and 1.5 of the deposit.

Post: Owner Financing - Ethics Question

Javier MarchenaPosted
  • Investor
  • Winter Springs, FL
  • Posts 165
  • Votes 68

@Chase Gibson

As a seller, I did selling financing for a property. I did not want to be a bank. I did it to help the buyer because his financing did not go thru. I asked similar terms as you mentioned (20% down, 15 years amortization, 5 year balloon, 10% interest). Hoping the buyer will refinance soon. 

This was 3 years ago, when interest rates were lower. I was hoping my buyer would refinance soon!! Still waiting.

Not unethical in my opinion. 

I would not consider a lower offer with seller financing. I would consider a higher offer with selling financing, or 12% if listing price.

Post: Good areas to invest in the Orlando area

Javier MarchenaPosted
  • Investor
  • Winter Springs, FL
  • Posts 165
  • Votes 68

If you are thinking on moving to the UCF area, I would say look there for investments. There are some 4plex being sold there from time to time.

Post: 22 years old, working 9-5 how can I get started!

Javier MarchenaPosted
  • Investor
  • Winter Springs, FL
  • Posts 165
  • Votes 68

Yes, Househack!!! get the house YOU can afford. Then, get roommates to pay your mortgage and you save money for the next househack. Continue doing it, until you get a girlfriend that is not ok with roommates.

Post: Tear down an Orlando Ranch to build a Fourplex?

Javier MarchenaPosted
  • Investor
  • Winter Springs, FL
  • Posts 165
  • Votes 68

@Elwyn D.

PM me, and I will send you the information of an Architect that is used to deal with the City of Orlando and get difficult projects approved. 

I have not checked your lot and zoning requirements, but if there is a chance this Architect would be the one.

Post: Appliances - keep or replace

Javier MarchenaPosted
  • Investor
  • Winter Springs, FL
  • Posts 165
  • Votes 68

Good shape. That term may have different meanings for different people.

Do they look that belong to the rest of the kitchen or they stand out?

What color are your cabinets? If they are white, you may be able to combine white appliances with SS.