All Forum Posts by: Mark Masiel

Thank you, @elio levy for explaining that. What Buddy says about condos makes perfect sense.

Any areas within 1.5 hours of MIA that has good potential? I am looking for a duplex, perhaps 80k-100k. Will live in one as a base to possibly buy and flip in the area. Any ideas?

Hi Dwayne,

I feel the same as you. I am incredibly excited and motivated to start but the lending does seem to be an area I need to learn more about. For example, I could easily get a loan to buy a property right now as I have a full time job. I will be leaving my current location and job in June (already decided that I just cant do it anymore, and am looking for something different) and then, even with legitimate funds, I doubt I will be able to get a traditional loan without a job. So it feels like a Catch 22. Of course I am reading more and more and hope to be able to find the answers. Right now it seems to me the best way to start is to find an experienced partner?

Best of luck and I look forward to following your progress!

Masiel

Hi Elio- Can you explain what you mean when you say "we get most of our deals directly from homeowners"? (As opposed to MLS)

Ervin, I am curious about condos as well. Aren't the HOA usually pretty high?

I actually am from the states but often have lived overseas for work.

We have family in Allentown and after a recent visit we really liked it. I grew up in Central Florida.

To be honest, and perhaps I am naive, I feel as if I can invest remotely, which might be the only way I can while living in Peru. With that in mind, I am actually looking all over the US.

One thing that I have noticed from living all over the world is that USA real estate still seems by far the most affordable market out there. Lima, Peru has gone completely nuts with regular SFR going for straight out cash or money lent at very high rates, 10+. Our friends and family there cannot believe the low prices in the US!

Greetings!

New member-I have listed Florida as my home base but that is only because we will be living in South America next year and MIA is a relatively short flight from Peru.

My short term is to learn everything about real estate I can. I feel incredibly blessed I have found this site. I have learned more in the past week then any book in real estate I have checked out, and I feel that there is no real agenda here that you would find from a get rich quick course on real estate.

I am a little surprised at how hard it seems to find cash flow properties. With my newbie skills I see hardly any properties that actually cash flow other than the more inexpensive properties in the midwest and northeast. Many of the properties I see advertised from Florida do not from the eye test at least, come close to meeting the rules I have read on this site. I know many people who actually own rentals and had no idea that roughly 50 percent of the rent is gone after taking in all the other costs! They truly bought completely uneducated: PI-500, Rent 800-I have cash flow!

If you think I am put off-I am not! I am more excited then ever knowing that this is not easy. Like finding a good value stock, I imagine to be successful it must take hard work and research. I can see why only the dedicated can succeed.

I look forward to learning more and I am absolutely hooked! I already have my keywords and am interested in Allentown, PA and anywhere in Florida.

Thanks for having me!

Masiel