All Forum Posts by: Herve Alce

Greetings!

I am new to investing and I'd like to hear what some of you experts have to say about my current situation. What would you do?

I am in the process of purchasing a Single Family investment property for $130,000.00. Its a 4/2, 1,100 sq ft in Miami Fl. I have a HELOC of $50,000.00 that I am using to purchase and potentially renovate.

At its current state it is being rented out for $1,600/Month. However, If I rehab it I could probably rent it out for $2,000.00/month with an ARV of $200,000 which I would cash out refi and repeat.

My dilemma: Should I rehab the property (which it needs) or should I take my additional $20,000.00 and purchase and rent out another property?

Also, I'm still learning and haven't totally grasped the way in which we determine Cash on Cash return or ROI. Can anyone help me with these and is this even a good deal or should I walk?

Greetings!

I am a lab tech at a lab in Boynton Beach, Fl. I have a bachelors degree in Chemistry and I love my job. It just doesn't pay much. I have a family and I would like to give them the world. 

I have experience in construction. My father has been a general contractor for over 35 years. During the summers I would work with him and I can pretty much find my way around a repair pretty quickly. 

I have one property thats being rented out. I used my current houses LOC to purchase it. In a year, I plan on refinancing and paying back my HELOC and then, doing it again to purchase another property to buy and hold.

I'm interested in flips but of course it has to be a good deal.