All Forum Posts by: Javier G.

I was monitoring for few months Multifamilies in South Florida. I understand we're in a hot market and speculation is driving prices out of its fundamental behavior but, I was wondering if my analysis is lacking some type of piece or my math is from another planet. I see every day creepy Duplexes with $900/side rents with asking prices of 400K! Basically, 200K/door. Remarks at the bottom say "Low ball offers will be ignored!! Did I miss something? I will appreciate your comments.

@Alex Lade Are you referimg to data extraction? Matlab modules might have canned algororhitms, but not sure if this is what you need. It is a great idea.

Javier

I was wondering how you purchase property with 20% if your DTI is already on the limit?. For instance, let say you have 200k Cash and ready to invest. I read a lot of responses saying that you can buy $1M of property? How you finance 800K without sending your DTI to the moon. I will appreciate your feedback. I am confused.

Javier 

@Noreen Eddy Thank you! I forgot to mention about 1 yr ownership requirement. 

@Greg H. Thank you! The property has 85 days on market already. I suspect my numbers are very close and offers are being rejected, so basically the asking is way off. 

I came across this property in the MLS Link, and the realtor said that the HUD computer analyzes offers and automatically rejects offers less than 89% of the asking price. I viewed the property and I estimated $16k in repairs. Based on the asking price and repairs, I was wondering how much would be a reasonable offer? Realtor sent 4 comps averaging $137K with a small SD.

I'd say ARV = 137k x 0.7 = 95.9K

95.9k - 16k (repairs) -10k(closing, commisions) = 69.9K

Anyone with expertise in HUDs that can give me advise? 

Thank you, Javier

@Jordan Rajchel Congratulations! Based on your numbers, definitely a good deal.

@Jaysen Medhurst I like the idea of multi. Thank you!!!

@Jared M. Correct. I understand that rules can change it if voted and nothing can't be done. You will be forced to sell to protect the capital.

@Seth S. Agree. I will the numbers on Jaysen's example to see how numbers line up. Thank you!!

Good morning BP members!

I own a free and clear Townhouse (165K) in Miami, rented at $1,450 and cash flowing great BUT, as a preventive action, I'd like to move the equity to a different investment without HOA. I heard horror stories about HOA changing CC&R's against rentals. It's not the case right now, but I thought it would be a good idea to make a move now that is a seller's market.

I will appreciate some ideas and recommendations. I know my question is extremely open and probably, there are tons of options, but since my expertise in RE is very limited, I've no idea where to start. Any feedback will be highly appreciated. 

Thank you! Javier

@Brian Garrett & @Jason D. 

Thanks, both of you for your comments. I shouldn't spend my time and other's time discussing this but sometimes, I just want to understand what's their rationale behind scenarios like this. Thanks again.

                  Javier

Good morning BP!

I was practicing math on multifamilies on the MLS and I found ALL asking prices in MiamiMiami are ridiculously inflated! Since I suffer from acute analysis paralysis, I was wondering if it's me or this is normal. The example here is a multifamily in Hialeah with 2 small properties with a total of 1,320 SF, asking is $380K. Basically, this person is trying to sell 2 studios for $190 each! I know the area very well and pushing hard, you can rent each for $900. Where is the deal here? I will appreciate any feedback.

Thank you!