All Forum Posts by: Jason Luongo

If you have an email list to notify for future events, I would be interested in be added!

I am looking for a builder in the same area for a duplex. Did you ever find a reputable builder?

 My investing is going well. I have a single family in Jax and a duplex in Punta gorda. I got great tenants in them and haven’t had any issues. I’m working on saving up capital to purchase a second duplex in Punta gorda 👍🏻

It turned out pretty good. I purchased a double wide lot and split it with the city. So I built the duplex on one half of the lot. All in I ended up paying just a little under retail value/appraisal value. Around $300k. Each side rents for 1500$ so I’m at my 1% rule I like to meet. And it’s new construction so everything is brand new, and easy to rent out because people want to live in a new home. The deal will get sweeter because I still have the additional lot which I can build a second duplex on, or sell for around $30k. To build the second duplex should cost me all in around 275k. And should appraise for 310k 👍🏻

Your not making a bunch of wealth through forced appreciation and equity like you can on a brrrr deal, but this is simple, easy, and turn key basically. I love new construction for rentals. It does require some more capital up front for down payments.

 Sent you a connection request

@Clayton Smith

I was able to find a local bank that did an 80% LTV REFI on a 5 year year ARM amortized over 30 years at 5.25% So I will just have to refi again in a few year which I can do with the same bank or go to a conventional Fannie Mae long term loan

Working with the local bank was a breeze compared to conventional lender. Easy communication and quick closing. I’m not sure if they lend in Alabama but I can gove you his contact info.

Hello, 

I am looking to network with wholesalers that work in the palm beach county area. I am specifically looking to purchase a property in Delray Beach that I could fix up and house hack/live in. Please feel free to comment on this thread or shoot me a DM! Thanks 

Is it possible to still get a discounted ticket?

Hey guys. I own a lot zoned for multi-family and I am looking to build a duplex on it. Its cleared and ready to go. The last builder we used raised there prices significantly. Any referrals would be great! West coast Punta Gorda Area

His motivation is that he is 80 years old and he wants the cash out of equity. Investigate the property and it's condition. Structure the deal so that you start off with a short term lease with the current owner Incase it doesn't work out well. I don't see why you would avoid the deal if your looking to BRRRR a property. Sounds like a win win