All Forum Posts by: Jose Rueda

Good afternoon BiggerPockets Community,

So this post is to provide some information for the Florida tenants/landlords laws. I am not a lawyer and this is information I found while doing research. This will hopefully educated and familiarize new investors or existing investors. Currently, I am renting right now until I finish my accelerated nursing program in school and then I am planing on purchasing my first multifamily unit. Recently, I've been having some issues with my landlord where there has been a leak in the roof for over a month now and as a result, black mold as been flourishing. I've informed them about the issue as soon as I recognized it to help save them money on any repairs. However, they have not been very responsive in taking any major forms of actions. I've sent a written information multiple times and I've called them countless times as well. The only response I've received from them is that they need to wait until the drywall is completely dried before they can do anything. However, the problem I am seeing is that it is rainy season here in South Florida and there isn't even a tarp on the roof to prevent water from pooling up on the ceiling. This led me to get some information regarding the tenant/landlord laws regarding certain issues and came up with some information. However, I am not planning on seeking legal actions, just a resolution especially since I have children living here. So for any tenants/landlords who do not know the exact Florida statue for Tenent/landlord laws, you can find the links below to become educated on them. Knowing the knowledge is just one way to protect yourself and sharing the knowledge will help others. Hope this information can be useful to anyone.

https://www.nolo.com/legal-encyclopedia/florida-rules-regarding-mold-rental-properties.html

Section 83.43, F.S.

https://www.freshfromflorida.com/Consumer-Resources/Consumer-Rights-and-Responsibilities/Landlord-Tenant-Law-in-Florida

I’m currently saving right now for a conventional loan since I’m going to school with my Post 9-11 bill and considered a full time student. I get my housing allowance from the military which is enough to support my family but it is not considered as active income. The only thing I have to count as income is my VA disability and my Reserves pay. I limited my expenses by eating at home instead of eating out. When I’m at school, instead of buying my $4 Cafe con Leche which I very much enjoy, I buy a $1.30 Colada (South Floridians know what I’m talking about) to get me going through the day. If I have time I’ll make it at home and make enough to last the day. I opened up two bank accounts other then my checking and savings and immediately put 200 in each month and forget about it instead of buying performance parts for my car like I used to back when I was younger. I limit my commute to school. I buy Walmart food for my dogs instead of going to Pet Supermarket. Instead of buying Protein Milk at the gym, I bought a tub of protein for $90 dollars and make a protein shake after a workout. I used to save on a gym membership by going to the gym at school but since I live too far away from it now, 1hr, I used the local gym (planet Fitness) every morning at 5am. If we have no time to cook because of school, we buy McChickens or the 4 for 4 at Wendy’s to eat for dinner instead of spending a ton of money on a restaurant and we ended up cutting out alcohol as well. My wife buys things in bulk to and stay within our budget. We are conservative in what we spend our money on especially since she’s in her Masters program. I’m trying to be as frugal as possible and once I’m done with my RN nursing program, I will continue to be frugal to use that extra income to further my career. Majority is temporary but there’s a reason to do it and that’s to provide a better life for my son then what I’ve had. I’ve spent money here and there but it’s a big change on how I used to live before and it’s not bad because I’m determined on getting what I want. Some expenses stay or come especially having a family but I try to get the lowest price for right now to make things work.

Judith Sullivan hey I was reading your post and being a veteran I noticed you mention string first on government contracts. Would you mind sending me information regarding it? Thanks in advance for any help!

Man I wish I had your mind set when I was that age. I spent my time partying and having too much fun. Good job on trying to start early. So, since you’re 14, you’re going to come across problems that require you to be at least 18. However, do not let that stop you. Ask yourself, how can I make this situation work? Since you’re 14 and living with your parents, build a small business selling stuff and get your mindset as a real business owner. Read books, listen to the podcasts, stay updated on the forums, and definitely visit your monthly Real Estate Investing Associations and let them know who you are. Go to the local meets and become friends with other investors. Remember that this is a relationship business. Since you’re a teenager, work part time or build a small business like selling shoes, snacks, mowing lawns, work on cars, etc. and save as much money as you can. 20% minimum of your earnings and put it in and account you will not touch so when you’re 18 you can buy a property in cash if you wanted to. Use the other 80% to enjoy your teenage years because once it’s gone, it’s gone. Do good in school because if you can get a high paying W-2 job, you can use that to your advantage to buy more Real Estate and skyrocket your business. You’re young and you have a lot of potential. You’ll do great in this since you’re starting off early. Good luck on your journey brother.

Hey BP community,

So I took a break from studying and I've been messing with the website to become very familiar with everything on here and I came across the foreclosure tab under "Marketplace." I was going through it and noticed that it sent me to a website, www.foreclosure.com, that gave information on local foreclosures. The question I have is, "Has anybody in South Florida used this, and if so, how has it worked out for you?" I was going to start a mailing campaign on foreclosures from a list I was going to get from Foreclosures Daily and at the same time go knocking on doors with my partner to enhance our chances of getting a deal. I was reading the fine print on the Foreclosure.com website and noticed that a monthly subscription is only $39.80 which seems awesome! Let me hear how this subscription treated if you used it here in the South Florida Market.

@Robert Saunders Hey this is the event that is the one I was talking about. This was from this month and every month they update it. You should check it out!

Joe Garvin the active duty commander ordered a mandatory evacuation for the entire base except for the essential personal on Thursday. My brother in law is with me in Atlanta due to the evacuation. Now they're just worried about the flooding due to the storm surge. Hopefully the homes are okay after the storm passes.

Has there been any information released saying that it will contain Bots or actual people and how much? How much employment they are predicting they will provide?

Lenny Machin so I'm noticing that the cap rates are less then 10%. Is that to be expected here in south Florida? I was under the impression that a rental's cap rate should be at least 10%. Or should I be looking at it in the sense of, if it's higher then inflation of 3-4% then I'm good?

Hey Alexander what part of Coral Springs are you from? I live around sample and university