All Forum Posts by: Luigi Ramirez

Yes, thank you! Recently I've come to notice thats another option that could work out well with more options and selections. 

Hey guys I would like some pointers on what is working best in Miami. Is it SFH, MFH, Commercial, Wholesale, etc.? Thanks a million.

Great info, highly appreciated. By "commuting area" do you mean as by zip code or by county altogether? Will I need to provide proof of getting a job transfer to different area? 

And it does make a lot of sense. I know when we start owning multifamily we are looked upon having more than usual funds at disposal. 

As long as I can obtain at least two low downs that would be a big help to getting started. Thanks again. 

Those are very good points but I believe in real estate thinking a couple moves ahead is a better bet. At this point I'm just brainstorming avaliable strategies to maneuver. Thanks for the input. 

They do require owner occupancy but only for a year. And that is why I wanted to know if this is possible, to avoid having the home refinanced. 

Hello, guys! 

I would like some experienced info on a thought I had while coming up with my investment plan. I plan on going the small multifamily route and wanted to know if its possible to use multiple low down payment loans from different government institutions.

For example lets say I obtain an FHA 3.5% down on my first deal then a year later (comply with the rules) I find a second deal and use a conventional 97 loan to get in. Would it be possible to do this? Is it legal?

I know you can obtain more than one FHA loan as long as you obtain the right equity and refinance the property but I would like to work around this method and expedite the process, at least for the first couple deals. Quicken Loans also offers a 1% down for first time home buyers so there I would have 3 low down loans for 3 different deals, which to me would be really cool to do.

Good day.

Got it. Thanks! Definitely keep in mind for when I'm ready.

Thank you Jennifer will do! And best of wishes to you too.

Hey guys, how ya'll doing?

As the time of this writing, I'm getting ready to start off my investing business in South Florida. Really excited about this! I am looking forward to buying multifamily homes, living in them to obtain FHA loan, moving out after a year or two, and then repeating the process again. I'm 24 with little initial capital to start off with so FHA is a big help.

My major concern right now is how to actually find good areas in South Fl that would be best for small multifamily (2-4 units). I live in Miami, even though I would love to own properties here I'm afraid houses won't cash flow very well. My goal is to make around 5k monthly off rental units only in about 5-6 years. So buying one fourplex/year, making $200-$300 in positive cash flow shouldn't be too difficult right? More or less where should I be focusing on more? Should I consider moving up North, maybe moving to Ft Lauderdale or does Miami-Dade support good areas that cash flow well on small multifamily?   

thank you guys!

Hey everyone! Not a very social guy but for my future sake i better make it happen. I've basically lived my whole life in Miami and ever since my high school days I've always dreamed of having a business that i can make a good living where i don't see myself stuck in a 9-5 job like my close relatives. So the choice was clear that real estate is the way to go. Come to think of it a great deal of businesses only generate income if you work, if you don't produce then you won't earn but not in real estate especially as a landlord. I've read quite a bit already about the business and right from the beginning i'd realized theres many different areas i can get myself into, quite overwhelming. As of now my goal is to raise as much money possible in a year before i get started out just to have some sort of safety net in place. My niche to start off will most likely be flipping houses to raise capital and jump on a couple of rental properties. I know theres a lot to get done but as the saying goes "the journey of a thousand miles begins with a single step". Im glad to have found bigger pockets where i can learn from other investors on my journey and hope to be of service.