All Forum Posts by: Jonathan Alfonso

Is Building the best option? You can scoop up a property over there at auction at or below replacement cost. Does the risk of building make sense? $90.00 a foot new construction cost sounds low, especially if your contractor is not tied to you. There's a lot of new product out there, just my two cents.

Second year attending, I will be there as well.

Go here to pull the docket. http://www.seminoleclerk.org/CivilDocket/ I have bid all over Florida but not Seminole because of live bidding. They still are not on the Real Auctions platform. So I can't give you step by step without having a case to search. If you give me a sample case, I can go and show you how. Ultimately, the final judgment should not dissuade you from bidding. Bank will set its own reserve amount and hopefully will do so based on value hey can get at auction. Only thing is, if you have a low final judgment then you are not as concerned about banks reserve. Then again, if judgment is low, it may mean the mortgage is a second mortgage. I saw you had another post about title searches. Not sure about "easy title search" but Property Insights which is a Black Knight company performs title searches and they have a good product for $40.00 give or take. I have done thousands of searches as an attorney and even recommend my clients to them just because it's more cost effective than paying for my time to conduct title searches.

Maybe you can partner up with someone who has the financials to obtain financing. You may want to check out Acquisition Lines of Financing from some of the institutional groups such as B2R Finance and Colony American Finance. Or Crowdfunding sites like Realtyshares. You can always go with a hard money loan for acquisition and once the duplex is stabilized you can refinance the debt down to more favorable terms. 

What types of assets are we discussing and what areas. I am from Miami (live and work right outside Gables) but most clients have investments across all of South Florida. For example, I have clients who have assets in Homestead all the way up to South Broward. They had one property manager and they could not handle the work, simply because they could not cover such a large geographic reach. How many units? What kind of assets (single, multi, condo)? Do they have density in the area? Luxury? It just depends because your multi families rented at $800.00 need a different property manager than if you are managing high end condos on the beach. Person paying $5k a month in rent won't wait a few days until you send someone out to inspect the AC.