All Forum Posts by: Ray Hage

@Tri Tran To be fair, you ignored a lot of red flags! However, I am not here to beat you down. I am also a Florida Realtor. Below are websites for the Florida's DBPR. I would collect all the details of the transactions you made with her and then make a complaint to the DBPR. This would at the minimum get her to speak with you as it could put her license in jeopardy if she is found guilty of fraud. Brokers lose their licenses all the time for doing shady things within the RE business and even sometimes outside of RE. There's no way to be sure you will get your money back but at least make a strong effort. Maybe she will give you the money back.

Search by her name (she's the only one) to get her license info:

https://www.myfloridalicense.com/wl11.asp?mode=1&SID=&am...

Then file a complaint here with all the evidence you have: https://www2.myfloridalicense.com/file-a-complaint/

I wouldn't worry too much yet but if after a couple more days of no activity, I would bring the price down a bit to be closer to the top end of the market and see if there are recent comparables that have been rented (especially if you have access to the MLS)

I'd say it depends on the price of mentorship and what the mentor is really offering. From what I have seen rates can be very expensive and the advice can be too general. The large majority won't be worth it imo. The highest I have heard of locally here in Fort Lauderdale was 6000/mo. Absolutely crazy if you ask me. 

I'll do you one better. I have a house hack where I live on one side of a house and my tenant lives on the other side without sharing any spaces. It is pretty much like any other tenant. Do not treat them any softer or harder because they're you're neighbor. Remember, this is business.

It sounds like it is priced a bit on the high as you suspected. How many days has it been listed? If it is only a week or so, I wouldn't be terribly worried. If it has been a month, then you can be very sure it is too high. I would probably have it at $2000 or 1950 to get someone in there. You don't want it empty for 3-4 months before finding a good tenant.

Quote from @Boris Shemigon:

My life is taking an expected turn and I'm in a kind of pinch. I have to sell my house and need to stay somewhere until it's sold.

- Are there websites where I search for a furnished place for a few months for adequate money? I tried to google but could only find vacantion-like sites with exorbitant prices.

- Is there a kind of person who could help me with pre-sale improvements (roughly saying, to tell me what is worth replacing, improving, etc and what is not,1 to make the house more attractive for the buyer)?

The next step I see is to buy a (ideally) quadruplex to househack.

Please excuse my rookie questions. If it has been asked already, please kindly point me out in the right direction.

Thank you,

Boris.

Sorry to hear about the situation of having to move out. I am an investor and realtor here in Fort Lauderdale.  I agree with Jonathan about furnished finder and not overly worrying about improvements for the house. That is probably your best bet.

I can help in terms of getting a house ready for listing as I've done this for a few clients. There might be some things worth fixing but I certainly wouldn't spend thousands to do it. I will send you a private message.

 

Quote from @Juan Carlos Correa:

Hello everyone! My name is Juan Carlos Correa, originally from Mexico, and now living in South Florida for the last 3 years. I’m an CPA working in the audit practice and dreaming about starting a real estate investment path for me an my family. Open to hear/read and tips and advices that could help me on my research for my first deal!

 Hi Juan. Welcome to BP. Being a CPA will help you in your journey for sure.
I am an investor and realtor here in Fort Lauderdale so I can definitely throw some tips your way. What type of property are you thinking about? Orale!

It sounds like you all had it pretty easy with Milton. I love the St Pete area but frankly would be terrified of having a property on the Florida west coast. It seems like the last few years have been terrible on that side.

Hi @Jorge Vazquez I agree it was mainly lawsuits, scams and fraud that drove up the rates but how are regular investors and homeowners supposed to absorb these huge increases. It would be hard to raise the rent a ton on existing tenants especially if they are close to market rates. 

One of my properties got a 101% HO/Wind increase for the insurance. Does this make sense? I have never filed a claim. I changed insurance companies and managed to get only a 20% increase instead. It is hard to believe this is not some greed at work as well. How about making it harder to sue the insurance company and can lower their rates? I am not really sure on how to fix it but I am sure it is extremely broken. 

Quote from @Sven Zimmermann:

Quote from @Ray Hage:

Quote from @Sven Zimmermann:

Quote from @Savannah Holzer:

Hey Sven! Love that you're eager to start investing soon!

Do you know which markets in particular you're looking at? Would also love to answer any questions!

For now I am looking in the broader Miami area, since I would preferably house hack a duplex and need to be somewhat close to my main work.

As for questions I think the biggest unknown right now for me mostly revolves around the timeline and order of steps. I am won't buy anything this year but rather next year so I am wondering if it makes sense to approach an agent or a lender months in advance, weeks in advance or only when I really already saw something I want to buy.

I don't want to waste anybody's time and I am not yet sure what the best course is.

 Hey Sven! It is ok to not know but it's good you're on here in the forums trying to learn. I have been investing in Fort Lauderdale for 9 years and I am also very familiar with Miami (lived in Edgewater). I am also a realtor. In my opinion, one of the best ways to start is with a househack especially if you are planning to stay in the south florida area for a while.

 Hey Ray,

thanks for your input! I also believe after reading into it that a house hack is a great way to get started. While I currently live in Coconut Grove I am not opposed to move further to the north of there is a deal to have. 

I'll keep you in mind once I got all my criteria straight.

Hey Sven. No worries on not knowing 100% yet but I would it would be far easier to get started in Fort Lauderdale or WPB areas due to the cost of homes. Personally, I prefer FtL because I love visiting Miami and only about 30-40 minutes away.. Feel free to send a message any time