All Forum Posts by: Obed Calixte

Thom Pirone has provided amazing guidance at our brokerage coaching meetings. Very insight, actionable and pragmatic. Also is local to the Tampa Bay area.

How's the PM search going?

@Chris Call  what qualities are you looking for in a property management company?

If you're looking for one that can help you analyze, acquire, update/renovate, reposition and manage professionally -- i have a recommendation.

@Alexander Jivov

how's the estimating journey been going?

what has been most helpful for you in estimating rehab costs thus far?  I'm sure your insight will help others that stumble upon this thread in the future.

Have you run numbers on other deals that would require 3-5% down and you buy down the rate instead?

They should warn all the South Florida homeowners as well!

Sure there is a possibility of it occurring, but the likelihood is small. 

What do you mean by vanish exactly? Opportunities will noticeably decrease or wholesaling will be an endeavor not worth taking on?

I get Miami wholesale deals in my inbox nearly every day. Some look to be pretty solid on paper. Not my market however so I don’t dig further. 

To John’s point - there will always be individuals in need of quickly selling their properties or need creative solutions to move on. If you can connect seller with buyer at a number that works for everyone, there will always be a market for wholesaling. It may just not look like how it has in the past.

Good ole Gainesville -- went to school up there. It's changed so much since I left.

To your question-- you've covered the general cost categories, what falls into each bucket is going to be the biggest point.

Closing costs on the initial purchase, especially if from a wholesaler + using hard money, can be a surprise. Some wholesale deals require you to pay closing costs for both sides. Hard money generally require points and/or other fees for first time flippers. 

Legal fees may come into play at times if you have to deal with evictions or the like.

FHALenders website has alot of resources. They may be able to point you in the right direction.

House hacking with FHA is common. Intention is always the key however. You are intending to live in the home as your primary residence and rent it out as necessary.

Your loan officer will surely give you insight further into what is and isn't allowable.