All Forum Posts by: Gabriel Amedee

Is the seller willing to take a second? You can get a first mortgage with private money and have the seller hold a second. Most of the private loans I am able to solidify for my clients are one year terms just as you are aiming for. Feel free to PM if you'd like more assistance.

Happy Hour Hangout - REI Meetup

What Do We Do - Every month we meet on the last Tuesday and talk about EVERYTHING related to Real Estate. This includes, but is not limited to: How to get Started, Strategies we use, Areas of interest, Events we attend, Market Updates, Books we Recommend, and much more!

Who Can Attend - Fix & Flippers, Wholesalers, Buy & Holders, and anyone investing or looking to invest in the wonderful world of Real Estate.

Our Mission - To create strong and long lasting relationships with like-minded individuals who are looking to grow as an investor in Real Estate ( while enjoying a drink and having a great time! )

Our Only Request - The event is 100% free but if you could please be so kind to purchase at least one item at the venue it would be greatly appreciated (50% off all drinks till 7pm & $2 Pizza @ 9pm). Even a bottle of water will keep them very willing to host our event as our group continues to grow. This is not mandatory at all to attend. Thank you!

Hey @Gavin G. !

What is your investment experience? I believe that is what will determine your answer.

I've "fixed" many homes that others have perceived as needing a demolition. The pictures above don't cause any form of intimidation in my perspective.

If you can identify what the property needs in order to be restored then you can calculate the price you need to purchase it for in order to make sense. I do factor in a higher return for these more intensive projects but I can't dismiss them when I'll get a much higher return than the easier projects on the market.

Hope this helps. Happy investing!

Hey @Jimmy Francois

My recommendation would be to inform yourself on the MFH market in Miami.

The duplexes, triplexes and so on tend to be really unique here and numbers are not always so clear cut.

After understanding your market(s) my next recommendation would be to get all your financing ready. One of the silliest ways to lose a deal is because you procrastinated on getting your paperwork in order.

After that is just to be diligent. You will crunch 20 property analysis's before you find one even worth visiting. Don't let this discourage you.

Good luck and happy investing! 

Hey @Jimmy Francois

Everything Jerry mentioned was spot on.

Here are the loan limits for FHA in Florida.

Fourplexes go quick here so be sure to be on top of the market.

Feel free to reach out if you'd like a second opinion regarding your loan.

Happy investing!

Yes they are in most states across the U.S.

Fines ranging from $100-$500 a sign is what I've seen across the forums.

Hey @Shmaiah G.

Yes I recently finished one in Miami. Many of my clients & colleagues have had to start lending money to balance out the shortage of deals with other high yield strategies. 

Hey @Salma S.

Just do it.

The more you do it the easier it gets.

I've made thousands of cold calls and now almost enjoy finding out the new connection I can build with each and every single call I make.

Biggest tip is probably know that the hard part isn't even starting. It's persisting.

Give yourself a realistic goal.

For every 10 calls, if you can convert 1, be ecstatic.

That's a killer conversion rate. 

Hey @Chris Arce!

Seems like you have your strategy all lined up. That is probably the toughest part for most when getting started so you are already ahead of the curve. I highly suggest your next step be in identifying your market(s). I host a monthly meetup in Miami and we have a few investors that have already executed this same strategy. It may be of benefit for your to come by and listen to their experience to better prepare yourself. Feel free to reach out if you would like to attend the next one!

Happy investing! 

Happy Hour Hangout - REI Meetup

What Do We Do - Every month we meet on the last Tuesday and talk about EVERYTHING related to Real Estate. This includes, but is not limited to: How to get Started, Strategies we use, Areas of interest, Events we attend, Market Updates, Books we Recommend, and much more!

Who Can Attend - Fix & Flippers, Wholesalers, Buy & Holders, and anyone investing or looking to invest in the wonderful world of Real Estate.

Our Mission - To create strong and long lasting relationships with like-minded individuals who are looking to grow as an investor in Real Estate ( while enjoying a drink and having a great time! )

Our Only Request - The event is 100% free but if you could please be so kind to purchase at least one item at the venue it would be greatly appreciated (50% off all drinks till 7pm & $2 Pizza @ 9pm). Even a bottle of water will keep them very willing to host our event as our group continues to grow. This is not mandatory at all to attend. Thank you!