All Forum Posts by: Julyana Silveira

Hi there! My husband and I own an impact window and door company. We can try to see if we can beat that price for you. You can DM the measurements if you’d like. 

We live in Pompano Beach and have been installing for over 3 years now. 

I'm so sorry guys; I was not notified/emailed about your responses! And I was checking back constantly.

But thankfully, due to many prayers, we ended up keeping the home and paid off the tax lien TODAY!

What ended up happening was that they chicken scratched all over my airtight addendum. Told them that was unacceptable and if they return it once again revised that we will not move forward. They kept wasting time and did not want to sign the addendum (which basically stated no further extensions will be granted, if failure to close by new date for any reason besides sellers fault or HOA disapproval we would cancel and claim deposit, also $2000 increase in price for for agreeing to revive the contract, which was the easiest term for them to agree to). They seemed to have a problem with everything else.

I finally tell them that if they don't want to sign we will release deposit and cancel contract, just to get them off our case. They took that up and now we're free and clear.

Again I apologize for not getting back to you guys. I'll be messing around with my settings to see what happened.

Thanks for trying to help!

Long Post Warning:

Hi BP,

I am currently helping my mom sell her condo in Florida. Because she has a tax lien foreclosure sale looming in the upcoming month, we had to try and sell it as quick as possible and is why we went with off market, wholesalers, craigslist.. We couldn't afford to wait for loans to be approved if listing in the MLS.

We secured a buyer that offered 75,000 cash. Standard AS IS Florida contract written and executed by both parties to close March 19. Because we belong to HOA, they needed at least 30 days for approval. Closing date arrives, no news from HOA. Buyers ask for 2 week extension and we grant them this (written). 2 week goes by and no news from HOA. So I call to find out what happened. Turns out they never received an application. HOA tells me to call Tenant Evaluations. I call and they tell me buyer submitted application March 14th. (4 days prior to closing). And on top of that, the application was pending because they did not upload all the necessary documents to move forward and get it to HOA. Thus delaying the process and closing.

On the day of new closing, nobody from buyers side reaches out to us about another extension or any news. So I decide to cancel the contract and ask for a formal release and told them we would be claiming their deposit because of failure to perform. Buyers did not want to cancel nor give up deposit. They continued with their dealings and I started searching for new buyers. A few weeks go by and I'm able to secure a new buyer with a higher offer and faster closing. (them being fully aware of what's going on)

HOA cancelled interview with the first buyers (who breached) not new buyer and on this day the buyers threatened to sue me personally and file a lis pendens on the home if we don't sell to them. Mind you, they breached contract not once but twice for failure to perform.

I've spoken to a few lawyers. 2/3 Told me I pretty much have all the right and would win if goes to court. The 3rd lawyer advised me to go through with the sale with current buyers because of the risk of losing the home to foreclosure is a bigger worry than who's right and who's wrong. PLus court fees and not being able to sell to someone else. (to get home out of foreclosure auction is only $5600, but we don't have that) Plus if we did have that now, they'd still sue for specific performance. So the lawyer advised me to write an airtight extension/addendum that if they don't close for any reason they waive all their rights to sue and deposit. I wrote this and sent it last night & told them they have until today 5pm to execute and deliver. They are reviewing my new terms with their lawyer and have yet to get back to me. If they don't agree to the terms, we will not move forward with them.

How would you guys feel in this position or what would you do? Do you believe I'm wrong to give into their threats? If we had $$$ to pull it out of auction we would. And it's the only reason were selling. I am looking out for my mother's best interest and would die if I see her losing her only home to foreclosure or lawsuit.

@Hugo Jimenez thank you! That’s actually the first one we brought to him. Waiting to see if that’s going to happen. Keeping an eye out on plan b,c,d...

Hello!

I'm not sure if this is where I post about this so please feel free to redirect me to the correct place if so.

I am currently looking for a commercial property for a funeral home in the South Florida region, specifically Miramar, Pembroke Pines, Fort Lauderdale, North Miami areas.

Property needs to be under the 3million mark. Can be a funeral home already or can be converted. Has to be in a residential area as well. This is for a client and we are currently working on getting him pre-approved. Please send any ideas my way!

Thank you!

@Rachel H. @Nicholas L.Thank you guys and I apologize for not replying. My notifications were off and since I posted this I have been studying for my Real Estate Exam, which I just passed.

We have decided to stay and save up some money for a multifamily property here in South Florida. In the meantime, I have signed with a commercial real estate brokerage so I'll be looking while I learn and help others.

My husband came across some money in Brazil via work compensation from his previous job. We have been struggling to a) find the cheapest way to get that money here & b) invest that money once it does get here.

Problem is, Currently the dollar to Brazilian real is at about 5 to 1 now and just keeps going up. Meaning we will lose a lot of the value just on the conversion. And were not sure if that's the best idea right now.

I've looked into all the exchanges, cashapp, paypal, etc.. but the fees are too high.

If that money comes over with all the fees and everything it will be about $24k - $30K at the current rate. We live in South Florida by Ft Lauderdale & We want to invest in real estate. 

We want to FIRE ASAP! Our current lease is up in December. Should we play it safe one more year & continue renting for $1050/month with expenses at about $2000/month including the rent, continuing the 9-5 and stack up more money? We have no debt or any other type of liability. We are open to move to almost anywhere in the US except to places where there are harsh winters. Open to farmland, country living etc..

Our goal is to get out of the rat race, have our living expenses paid for so we can start studying & focusing on our own thing and build a real future. Our current situation of 9-5 is not going to get us any richer. It's just getting us older and sour, FAST.

So far I've come up with the following options:

1. Duplex - with FHA Loan, 3-5% down on a duplex home in south Florida & rent our the other half. (We don't have 2 years of consistent work to prove income)

2. Buy a mobile home, paid off, rent out the rooms and have that pay for our current rent (mobile homes are risky to me because they don't appreciate in value and am afraid it wont sell later in the future).

3. buy a mobile home and live there ( still have to pay lot fees & we dont want that)

4. buy land, buy an RV, live there and save the rent money while we think of another way out. Maybe build tiny home or buy mobile home and put it there. (i have found decent size land in FL for 5-10k)

thanks for reading! Sorry for the scattered thoughts. 

@Jaysen Medhurst

Thanks for your reply! Maybe I thought about it wrong. But I wouldn't use his HELOC to fund my rei. It would be to fund his. The idea is that the rent I pay him will cover The new mortgage or HELOC he takes out. He specializes in properties at 50-60k. Being that the HELOC will be interest only payments for now , the rent can cover it.

But yeah, he could do all that without me moving in. I thought that maybe collecting rent would increase cash flow.

My uncle owns his home and doesn't owe anything on it. I was thinking of proposing the idea to him of taking out a HELOC and reinvesting that money in other rentals. According to public records , his house is assessed at over 200k. He bought it For 70k. So taking out 70-90% with HELOC, reinvesting while collecting rent from the house is the idea.

But my idea was for him to take it out, me move in to his 3 bedroom, rent out 2 bedrooms either on Airbnb or fixed tenants. Have the rents from the rooms cover the full rent. So I can live rent free.

The house is a 3/2 in Deerfield beach, FL. It’s newly renovated. In a decent area. I’ve calculated that the rent would be anywhere from 1550-1800 for the area. I currently live in a 3/2.5 and it’s 1600 on a lake ! So I don’t think it’ll be more than that. Airbnb’s around his area with the same comps are at about 30-50/day. Rooms with fixed tenants usually rent for about 650-700 in the area also. And in this house it can easily rent for that much.

To sum up I want to know if this would be a good idea for both me and him. And if so what is the best way to present this idea to him? He has other properties and is a rehaber /investor. Just not on a huge scale. I'm not sure if he's familiar with HELOC strategy also.

I’m just getting started with investing but have no cash. I thought that maybe by cutting expenses (living rent free) is a good start. Then work my way up. I have experience in hosting Airbnb’s and having been studying a lot.