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All Forum Posts by: Javier Marchena

Javier Marchena has started 1 posts and replied 161 times.

Post: Miami florida five plex for sale need advice

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

Hi @Account Closed

Sorry for your lost. 

I believe the best bet would be trying to buy this property from your siblings if they agree. 

You can cash out refinance and pay your siblings, or they may be willing to do a seller's financing.

According to the information you gave us, there may not be an issue with code violations. Primary use is "multifamily 3 or more". Once you get to Miami go to the Building Department and check if there is any code violation. 

Post: Dealing with Contractor Issues

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

Sorry that this happens to you @Chuck A.

Let me ask you a few questions....

Did you do a contract with this "contractor"?

If he is a contractor: Did you ask for Insurance and License? Did you check if he really is a contractor on your State's Website? Did you check if his license is Active at the moment?

1) If you did a contract and this guy is really a contractor, you can do a bunch of things to make sure you get your money back or get his license suspended or revoked. 

Call the licensing board in your state and explain the situation. Also call the Building Department and explain your situation. They will bring this Licensed Contractor to a table with you and try to solve this issue.

2) If this guy does not have a license. Please do not call him a contractor and call him a handy man. Issues with handy man are different. In this case, don't even bother... you have little chance to get your money back.... IMHO

Post: Flooring in Low Income Housing

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

I use Tile in my Low Income Rentals in Florida. 

Paid more for installation than tile. The one on the picture cost $0.39 per sqft.

Post: Where to get certified?

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

Hi @Chris C.,

You either need to find an investor friendly RE Agent or get your own license. 

Your goals are different from the RE Agents and after dealing with several RE agents I decided getting my own license would be the best for my goals.

Do the numbers and find out. You may have some expenses to hold your license, but you will have the benefit of the RE commissions. 

No recommendations on schools since I took my license on 2004.

Post: Converting SFR to Duplex and Flipping

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

That's true @Steve K.

Another issue with building an illegal duplex is getting the utility company to give you new meters for the new unit. Usually they want to see the CO before connecting power and water to the new unit.

Post: Converting SFR to Duplex and Flipping

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

Before anything @Jim Norton you need to see what is the current zoning on your property and future land use on your county/city. Talk to them and tell them your intentions. They may be willing to give you a variance if zoning would not allow for duplex on your property.

After/if they approve the construction of this duplex. You can think about the issue with the appraisal. Appraiser can provide suggested price based on comparable properties, and also based on rental income. You could call one yourself and ask him/her that question if it really bothers you.

But your main issue is if the county/city would allow you to build one.

Post: Beat my 10 Year goal in 1.5!!! :D

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

Congrats on your accomplishment @David Zheng!!! 

Do you run your own properties or have a property manager? Still working full time?

Post: Anyone know and good rehab contractors in Orlando?

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

Yes @Patrick Philip, you can have your handyman build you a new house if you want and nothing is going to happen if you do not get caught and your workers do a good job. 

Lots of handy man do a great job. Some have more knowledge and experience than a few contractors. License contractors with liability insurance cover you, in case you have an issue, you could have their insurance pay for the damage without using your policy.

But the issue is not just to have the work done by a licensed contractor. The city officials and the Building Code was created to ensure safety. They want you to get an inspection on the work and verify that was done according to the current Building Code.

You can manage your handy man and call for inspections on your personal property without the help of a contractor. But inspector will want to see what it was done. 

Take a look at your insurance policy and talk to your broker to see what it is covered and if they will cover for work done by you or your handyman in case a tenant/someone try to sue. 

Again you can do anything you want. I am not going to tell you what you should or should not do with or without a permit. That is your decision at your own risk.

Your billionaire real estate investor/mining magnate friend, not even worth mentioned. 

Post: Anyone know and good rehab contractors in Orlando?

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

@Patrick Philip

As @Justin Stamper mentioned money is one issue. It can be hard to collect insurance money if the work was not properly installed by a contractor.

Another issue would be if someone is hurt. That will be worse than loosing money.

Post: Need Tips and Advice

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

Hi @Saul A.,

Keep learning as much as you can and saving as much money as you can. 

I do CAD full time too. That gives me the opportunity to save some money to invest. CAD is something you can do anywhere at anytime. Talk to your boss to give you piece work that you can do on your own time. 

Try to stay with your family to save money if you can. Once you move to Orlando or Gainesville you will spend a lot in housing and/or food. Nothing like mom's cooking!