All Forum Posts by: Matthew Dea

Hello BP Community, 

I'm an OOS investor and am looking to get into the Palm Beach County, FL rental market.  I'm currently looking for any Architect referrals in the area that have worked on small multifamily that I can get some conversations going, develop a working relationship and build my network.  Thanks in advance and I'd be happy to connect and answer any questions!   

Matt  

Thanks so much @Nathan Gesner for the tips and the narpm.org resource!  

Thanks @Drew Sygit for the reply! Definitely appreciate the tips and insight. My intent is to create a list of referrals for trusted and well-recommended PMCs and narrow it down. From this list I’d definitely do the due diligence in asking the tough questions and making sure it’s a win-win. 

Hi BiggerPockets Community, 

Hope you all are well!  My wife and I have plans to invest in Palm Beach County, FL and are currently building our network there.  We were curious if anybody has any referrals for property managers in the area that they have had great experiences working with on 2-4 unit multifamily properties.  Thanks everyone for the time and look forward to connecting!   

Matt Dea

@Jaron Walling - appreciate your time in writing a reply! Any insight if this scenario would work to qualify as a primary residence in the eyes of the FHA 203k folks?

Agreed it’s our student loans, however we structure our taxes in a way that works for us where the government will take less of our collective income based on my wife’s government student loan income based repayment structure. 

Florida market is of interest to us because we have family there and also connections to contractors and agents that our family have used. 
 

Thanks again for your time! 

Hi all, 

I really appreciate these forums and all the knowledge and experience that this amazing community has.  Thanks to BiggerPockets and everyone! 

I wanted to see your thoughts on the below scenario: 

I currently have a mortgage on a single family in the Bay Area.  The mortgage loan and title is under my name only.  My wife and I have been filing our taxes as Married Filing Separately due to my wife's hefty student loans.  

My wife works two jobs: one in San Francisco and one in Florida. Both jobs allow for telecommuting, however my wife does travel to Florida frequently for her job. She would like to purchase a fixer upper multi-family in Florida. This would be her first property and it would be under her name only. Because she also works in Florida and travels there for work, she was thinking she could claim this property as a primary residence and try and qualify for an FHA 203K loan to buy and rehab the property and take one of the units during the 1 year FHA timeline.

Would this type of setup be valid for a FHA 203K loan?

Thanks in advance for any input that you have! 

Matt

Hi Kathryn, one thing to keep in mind is to confirm if your exterior siding was built correctly and you have the right waterproofing parts in place as it transitions to the foundation (underlainment, flashing, etc). If flashing was installed, you should be able to see it at the bottom of the exterior wall and it’s main use is to help route water away and prevent water from getting trapped within your wall and making its way inside. I hope that when the contractor who built that concrete berm did not conflict with your flashing, etc and may cause further water damage over time.  

Hi Angela, I’m a civil engineer and work with concrete quite a bit. What you are describing doesn’t sound bad. I would clean out the crack and get rid of any spalls along the crack you can see. I would vacuum up any dust and then apply a concrete crack filler (ie Sakrete). You can pick up any kind of crack filler at Home Depot. Apply, spread, and level the filler with a putty knife and then let it cure. 

Hope this helps.