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All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 95 times.

Post: wholesaler in Orlando Florida

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Ryon Williams:

I'm A new investor in the Orlando Florida area. I have plans to build my wealth is student housing and assisted living facilities throughout the United States.

 Welcome to Bigger Pockets!

That is great that you have an investing niche.  Just make sure you stick to it! don't get tempted to try another investing niche. Soon (with practice) you will be an expert in your field.  Good luck!

Post: Need 100% financing on rehab

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Elda Castillo:

Hello,

I am looking for a 100% financing on a florida property that needs rehab. I am interested in buying and flipping.
68k purchase price with taxes. About 20k rehab. Could sell for 124k -150k.

Can anyone recommend a lender?

Thanks,

Elda

Hmmm...It's best to call\e-mail some lenders and see what they offer. 100% financing is not set in stone for everyone. For some lenders It depends on your rehab experience, for others it depends on if you can personally qualify for the loan...etc

Post: Rental property all good to go rehab Tenent managment ! Florida

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38

Do you have any in Tampa/Saint Petersburg? FL

Thx

Post: Investor from California (Newbie)

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Account Closed:

Hello everyone!

My name is MAYRASOL ALVAREZ. I was born and raised in San Francisco, CA but currently reside in the East Bay with my husband and teen aged daughter. In 2015, I left the Corporate World after putting in nearly 25 years. I run my own travel agency from home which has been an awesome experience.

My husband, DOMINIC, was born in Chicago, IL but raised in the East Bay. He is a Martial Arts Instructor and a Physical Therapist Assistant. We are hoping he can quit his day job soon.

We are in the early stages of starting a second business, Real Estate Investment, together. 

Right now, we are focusing on wholesaling in Chicago, IL / Dallas, TX and North Florida (Tampa, Orlando, and up). However, we do have a buy and hold property in Cape Coral, FL (one lot).We are working on building through quick cash opportunities so that we can turn around and reinvest. As soon as we are able, we plan on getting into rental properties then eventually flip houses.

Some acquaintances of ours are also investors and had mentioned finding Bigger Pockets. They suggested we look into it, which we did and it has been an awesome resource so far for advice and networking. I look forward to continuing my exploration of BP and also meeting like-minded individuals who we can possibly work with but mostly learn from.

We have always been interested in real estate and are enjoying "learning while doing" in this business. It's been fun so far!

Before I end our introduction, we would like to welcome all other "newbies" like my husband, Dominic, and I. We hope to meet many of you as well as learn and grow with you.

Goodnight from CA.

- Mayrasol and Dominic

Welcome to BP,

I'm in the Tampa Saint Petersburg Area. If you need a contact out here let me know!

Post: Looking to invest in multi-family outside of my market

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Trent Tibbitts:

Hi all,

I currently reside in upstate NY. My parents are looking to relocate to Florida (Sarasota Area). My wife and I currently live in a two family house we own (House Hacking) and are looking to invest in a 2-4 family house in the Florida area where our parents are looking to move. They are going down in the end of March to look at condos/townhomes and possibly investment properties. My question to you is, do you have any experience buying investment properties in markets you don't reside in? Do you recommend it or not? I most likely will have my father in-law (who has experience) manage the properties and pay him. Or I will hire a management company (That others recommend) and pay them the market rate. I look forward to your feedback!

Thanks,

Trent

There are a TON of Management companies here in Florida but only a small percentage of them are very good. If you are out of state they have to be trustworthy. I would research many of them before making a decision.

Post: What would you do in today's market with these conditions?

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Emmett Dempsey:

If you had say $150K cash starting out in South Florida in 2016, what would you do?...  GO!

 It depends on your Goals, Each investor is different. Some are Wholesalers, Fix and Flip, Commercial and Vacant land.  Some would hold the money and wait for the Real Estate crash which will happen sooner or later and have cash to buy up a lot of property at discount prices.  Why buy property when the market is crazy? The old adage is true you make money when you BUY not when you sell!

Post: Bought First Investment Property with success!

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38

Exactly!!

Post: First ever offer rejected. What could I have done better?

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38

I agree with all who posted,

You did a great job! but I would like to mention that Real Estate is a numbers game, put in your offer and if you get rejected move on. Don't get tempted to move your numbers because the owners are not flexible just to get a deal.  There are plenty of deals out there.

I also would like to mention 5 units and above is considered Commercial to the lenders. Most lenders do either one or the other, (Residential or Commercial). Find a good lender first before looking for deals.

Post: Real estate license

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Jeri Clark:

Has anyone used Real Estate Express online to get their real estate license, in particular in Florida?

 I haven't personally but I have heard most are not ready for the State.  I would buy the book: Florida Real Estate Principles, Practices, and Law go through it then take the class.  That is what I did to take the test and pass.

Post: Hi from everywhere (Saratoga/Albany, NY, Fort Myers/Tampa, FL)

Account ClosedPosted
  • Saint Petersburg, FL
  • Posts 110
  • Votes 38
Originally posted by @Danielle D.:

@Account Closed Navy Fed will only do 2 but I'm willing to do 4 if I choose to work with another lender. And of course find the right deal. I'm mostly looking on Realtor and an agent has an MLS search going for me so I'm pretty sure I'm just getting the dregs. If you have any tips as to where to look and find a good deal for an owner occupier, I'm all ears!

Danielle,

I sure do! If you are going to be a Real Estate Investor you have to get comfortable with direct mail. IMHO you won't find the really good deals on the MLS, most Investors, (Like myself) already has access to it and will pick over what is on there. You also can provide solutions to sellers where you both get what you want.