All Forum Posts by: Ismael Reyes

San Antonio...

Thanks in advance for your recommendations! 

Looking for a few reputable contractors for bathroom remodeling/repairs. Also looking for residential property inspectors. Could use a property inspector as early as tomorrow morning. Thanks in advance for your help!

Another consideration:  Your gross income (the 75% that is counted from a rental property) may not be considered until the property is rented for one year.  

This happened to me on my last PCS. I bought in FL, then was moved with little notice to VA. The rental income from my FL rental was not considered in my Debt to Income calculation when attempting to secure a new FHA loan, even though I was able to rent the property right away and the rent covered the entire mortgage payment.

Good luck.  

Great question @Bobby Valcin and tips BPers.  Was doing some initial research there as well - the stretch from PSL to West Palm seems ripe for development/appreciation.  Would love to chat with a reputable syndicator in the area about potetial deals.

Fellow BP members,

I'm an out of state Buy and Hold investor looking to make the transition from SFRs to small and mid-size apartment buildings. My target market is the Palm Beaches/S. Treasure Coast, FL. As such, am looking for a Commercial Broker, Property Manager and potential local JV partners to network with.

I look forward to hearing from you.

Regards,

Ismael Reyes

MI Real Estate, LLC

Ok, thanks for the heads up on this.  Will definitely discuss with attorney.

If it's a great deal (look for properties selling for 65% of value and lower), finding the funding once under contract (be it a portfolio or hard money loan) should be relatively easy. 

Do your research as already suggested and happy hunting!

Rey

That's great Dawn.  Enjoy the 4th!

Can anyone explain what this means on a listing in Bell County, TX:

"Seller may convey with a Quit Claim Deed if VA title approval is not obtained 5 days prior to closing date."

I had an attorney advise against QCDs in TX because they may cloud a property's title...

Thanks in advance for the feedback.

Rey