All Forum Posts by: Hector Peralta

Thank you, gentlemen. Looking forward to meeting many like minded people on this site.

Hi, my name is Hector, originally from South Florida but currently reside in Northern California because it's one of the best places to work as an RN. I own a home in Miami, and I'm currently in the process of closing on a condo in Homestead (an hour south of Miami.)

I'm eager to invest in my 3rd deal, and mostly interested in multifamily units.

The way I see it, I have two good options, either invest in the Midwest, I like Cleveland (for MFH) or Indianapolis (for SFH), or purchase a multifamily property somewhere in Norcal and relocating there for a year (Sacramento or Stockton, or possibly Fresno) using an FHA 3.5% loan.

Ultimate goal is to buy and hold to supplement my retirement and I'm very glad to have found this community to learn and study from. Thank you! 

Yeah, I was thinking the same thing. The HOA alone is a killer. Thanks for your input!

Hi, everyone. I'm pretty new at this but I ran some numbers and they don't look that great, I just wanted to make sure I didn't miss anything.

Condo is a 2/2, recently remodeled, 1080 sq feet, in Homestead, FL, Naranja Boulevard area. 

Asking price $87K, may offer $82K, 25% down ($20,500) 4% interest, 30 years.

P&I: $294

Tax: $137

Insurance: $103

HOA: $361....first red flag, it seems pretty high to me (it supposedly covers security, common areas, elevators, laundry rooms.

Rent: $1300 (potential), second red flag because it's vacant at the moment. Rents in the building run for about $900-1150, however, listing agent claims she already has interested renters at almost $1300

Assuming a more realistic $1200/month rent, the rest of the numbers would look like this, correct?:

Property management: $120

Repairs: $60

Capex: $120

Vacancy: $100 (8.4%)

So a grand total of about $1192 gone from $1200. Bad deal, or did I miss something? Thank you!

Hi, I'm fairly new to the forums and happy to learn from you all.

I'm considering investing in Stockton for buy and hold purposes. I'm open to either SFH or condos. My question regarding condos is: does anyone know which subdivisions/communities have fairly healthy associations as far as reserves, not too many rental restrictions, etc? on the flip side, are there any I should stay away from regardless of how cheap a condo may be? Thank you!

I'm impressed that you found a fourplex in South Florida at that price. I'm from the area and know they're hard to come by. Hope it all works out for you.

Unless I'm missing something, it says cash buyers only.

I'm looking to get started in buy and hold, and Stockton is one of the areas im considering due to affordability. The info on this thread is very useful. Thanks, everyone.