All Forum Posts by: Roberto Ramirez

 Thanks for the SWFL update - I'm currently trying to decide what direction to go with a property (land) we recently inherited in Lehigh Acres. My wife and I like the idea of building a house on the property and either using it to generate rental income or just selling it once it's completed. My area of expertise is in finance but in stock/equities/commodities and not in real estate so I'm trying to read up as much as possible on the current state of FL real estate. Sounds like it'll get worse before it gets better. We can hold the land for longer if the idea of building could generate future profits or obviously just sell the property.

Yes, I do still own the lot. 

Hey Shawn - curious on how the build is going for you. We have a parcel of land in Lehigh Acres and we're trying to gather information on current environment. Thanks.

Hi Shahid - I'm curious if you were able to accomplish the build in Lehigh Acres. I currently have a parcel of land in the area and I'm trying to gather information on if it would make sense to build a home on the property. Thanks.

In-laws want to pass us ownership of land parcel in Florida that they've owned for 16 years (they never ended up building a house). Researched Quit Claim Deed as we've never had this situation before. Want to do it correctly but also don't want to spend a lot in lawyer fees if it's between family. 

Any thoughts/recommendations or is it as simple as creating the form myself on a legal website and then filing with county clerk or is it really not that simple and needs to be done through lawyers?

Thanks.

RR

Hi- recently was gifted a property in Florida (Lehigh Acres) that my in-laws owned for many years but did nothing with it. Wife and I were thinking about building to eventually rent instead of just selling the property outright. We've always been interested in investment properties and have been following BiggerPockets for many years now but never pulled the trigger. I'm sure there's a lot of headaches associated with going this route but wanted to see if anyone else has done something similar. I have to figure out the cost/investment of building a home from scratch vs potential rental income, etc. 

I guess I just need to do the math on this one based on the expectation of staying another 12 years. Even if I take out another 30 year and make the extra payments monthly, I would assume putting an extra $10k a year for 12 years towards the principal would help. 

Looking to refinance my personal home before starting to invest. Currently owe $585k and six years into a 30 year mortgage @5.25%. Rates have obviously come down. What makes the best financial sense? Taking out a 15 year even on a lower rate would increase my monthly payments which doesn't make me comfortable even if it would get paid off much earlier and paying less in interest. Another 30 year mortgage would significantly reduce my monthly payment but would restart the clock 6 years into my mortgage and would eventually pay more in interest but does that really matter if i don't plan on staying in the house past another 12-15 years? Do I take the savings and plow it right back into paying the principal? Or is a 20 year mortgage an option? Perhaps net monthly payment is the same but i reduce say 4-5 years of my mortgage. Appreciate everyone's thoughts. Thanks.