All Forum Posts by: Greg Pereira

@Mitchell L.

Thanks! I'll be attending the BREIA event this evening at the Fishing Hall of Fame.

Look forward to connecting with you in the future.

Thanks!! @Josh Caldwell @James Wise

Hey BiggerPockets Community, 

I am a relatively new real estate investor, looking for education and networking opportunities in the South Florida Area. I'm also a newly licensed real estate agent, and will be active in that arena too. 

My background & experience in real estate investing is limited, and dates back about 2 years. I purchased two 1 bedroom/1 bathroom condo's in East Fort Lauderdale last year, which we rehabbed for the purpose of flipping for a profit. Both Condo's are under contract - and scheduled to close on 5/29 & 7/31, respectively. I also manage a few rental income properties that my business partner owns in East Fort Lauderdale. 

My goals for the year, are to purchase 2 more investment properties as a Rehab & Rent - Or Rehab & Flip, depending on the investment.

I look forward to hearing from y'all!

Best Wishes, 
Greg

BiggerPockets Community,

I had a question regarding Homestead exemption penalties on properties that are in foreclosure. Would I be responsible for paying these penalties owed – Or is the tax lien for this penalty owned by the person who illegally or improperly received the Homestead exemption. My interpretation was that the tax lien would follow the individual owner, and not attach to the property.

I attached the Section in the law that I believe covers this topic. Reference the highlighted text. 

Any help to clarify would be greatly appreciated.

Thanks!

Very impressive, and Congratulations!

Best of luck Patrick! Wish you all the best! 

Thanks for the reply. Greatly appreciated. 

I'd like to get an FHA (203k) Loan on a quadplex in East Fort Lauderdale, but I have a few questions that I'm not too sure about.

1. What are the time constraints to re-sell the property? Meaning, do I have to wait 5 years to be eligible to re-sell it? 1 Year?

2. Would my business partner & myself be able to take out 2 FHA Loans on one quadplex?

The goal here would be for each of us to live in our own unit that we are claiming primary residence on, while leasing out the 2 remaining units. This way, we could repair our units first, then move on to the 2 remaining units when time permits.

Not sure if this is possible, but I'd like to hear the member's feedback. 

Thanks!!