All Forum Posts by: Jonathan Soto

 Thanks for the advice. Definitely eye opening

So I have quite a bit of equity in my home and was looking to get some information on becoming a HML. I am located in Miami and would like to mainly work with flippers using six month loans. Any information would be greatly appreciated as Im not sure exactly what would be the best course of action. My goal is to generate some passive income.

As the post states. I'm looking at ways to put my equity to work and invest in real estate. If you had the same equity, what would be your plan of action? Would a fix and flip be the best way to go or is it better to invest in rental income properties. Thanks in advance. 

Not technically a state but Im very interested in Puerto Rico. Mainly Vieques and Rincon. If anybody has any experience or can put me in contact with someone who does, thatd be great. 

So im looking at buying my first property in a lower income neighborhood here in Miami. I plan on getting the property approved for section 8 but, I'm having trouble finding a definitive answer as far as payment standards and small area fair market rents. The SAFMR for a 2 br in the zip code im looking at is $1590 however, the payment standard according to the housing authority is $1390. This is my first venture into real estate so I'm not too savvy in regards to going about getting answers from the proper authorities. 

Thanks for the input guys. Guess its not meant to be. On to the next one.

Good morning! This is my first time posting but this site has such a wealth of information. Anyways, so I found a beautiful home on Homepath, in a very desirable area. Its very old (built in 1926) and probably needs about 100k worth of work. The main issues are complete replacement of plumbing, new floor joists, and concrete work. In addition to the structural work, It needs some serious interior updating. This would be my first time purchasing a home and my wife and I are comfortable with an all in price of $450,000 including updates. The problem, is that Homepath has listed the property at $555,000 which I think is pretty ridiculous, considering all the work that needs to be done. I understand that there are programs that we would qualify for that would help with renovation costs and closing in addition to anything for first time home buyers. I only have 19 days until they release it investors. Any information you guys have would be greatly appreciated.