All Forum Posts by: Ken Naim

@Sarah Williams I've had to evict in NYC too, such a pain. Totally different here in FL

@Sarah Williams just get an attorney an start the eviction process. In Florida, it is relatively quick and cheap. Most tenants will realize you are serious and leave before it gets to court. If you just ask for possession instead of back rent it goes easier and faster.

@Chelsea Gatewood costs can vary significantly, although material are generally similar across markets with some exceptions like granite and quartz, labor can vary greatly. Also size does matter, a 10x10 will be much cheaper than an 18x18 kitchen. Then there is quality ofcourse, for any given element there is basic material with a handyman's installation, then there are various upgrades with a tradesman's installation, and finally there are premium materials with a true craftsman's installation.

It all depends are you flipping a $40k home, $400k home or $4 million home.

As an example flooring material alone can go from $1/sqft to $150/sqft.

Labor prices can also vary if the unit is a single family house or a condominium. Some condominiums have crazy rules, only can work from 9-3, deliveries only before noon etc., no weekends or holidays etc. Which can cause work to take longer and subs will charge for it.

A flipper will learn what the prices are for his/her niche (area, price range, home style, finish style etc.) So he can have fair estimate of whst something costs just by looking at it.

Good luck with your research.

@Evelio Martinez i got a Heloc in south floida 60% LTV during the pandemic. Hanscom federal credit union

@Michael Lewicki if you have significant equity then use sn LLC, otherwise probably not just get an umbrella policy.

As to how much is significant, I'd say around $50k.

@Michael Lopez All of south Florida is hot at the moment. Single family homes/condo are hot due to a lot of people moving into the area coupked with lower than normal supply. Multi family is even hotter due to northern multi family investors selling expensive assets and moving the capital to Florida. That capital goes much farther here so its driven the prices up and cap rates down.

Boca is rapidly becoming the new Wall Street pushing an expensive market even higher.

@Janet Cordero yes I'll pm you

@Janet Cordero seller financing, private money or hard money.

@Yacoub Shack My attorney charges a few hundred dollars plus filing fees which are another $200. Annual fee is $137.50.

As long as you either live in FL or do businesses here, a FL LLC could be right for you otherwise another states LLC may be a better choice.

I'll leave the pros and cons question to the attorneys.

@Chuck Masters 0.07% so $100 for every $142,857 of mortgage value. So $10,000 would equate to a $14 million property.