All Forum Posts by: Andy Pillinger

I now buy new duplexes so don't have to worry about maintenance. However I do 5% voids and $1500 per year maintenance even though i never hit that much. Its takes all speculation out of the equation.  I own a 1908 duplex in buffalo and maintenance is a killer.  Even though my mortgage is for 40k!

I now buy new duplexes so don't have to worry about maintenance. However I do 5% voids and $1500 per year maintenance even though i never hit that much. Its takes all speculation out of the equation.  I own a 1908 duplex in buffalo and maintenance is a killer.  Even though my mortgage is for 40k!

I have my primary residence in an area where land is at a premium. Around 6500sq ft but on a 30 degree slope with 3 tall evergreens on it as well. I have no idea how much its worth due to having no experience in this area. If I had to guess if it was turned into a subdivision anywhere between $250K and $350K. Im told by the local planner verbally that I could build a 1700 sq ft town house on it. The thing is I don’t have the funds or time to take this on. What’s the minimum I need to do to sell the main house and extract the most value out of the land that’s just sitting there right now!. Any advise would be much appreciated,  

Regards

Andy

we now have more job opening than there are unemployed for the first time ever in history. In 2006 inventory supply in general was not at less than one month as is the case currently in alot of the hotter markets today. Interests rates where above 5% in 2006. no crystal ball but surely there's a year or 2 to go however i suggest it wouldn't  do any harm to start watching the monthly stats a little more carefully.!   :) 

ed before I am also investigating a 10 I.O fixed loan but it appears they are very hard to get and the rates are bumped up higher. 

Thanks again.

Ok thank you all from your advice. I suppose that's not going to work for me.  As I ask

I have two small mortgages of 55K and 44K with property values of 180K(Florida) and 125K(new York) respectively. Are there portfolio lenders out there who will combine and refi them.

Thanks

Andy  

Hi Chris are you still investing on the Palm Coast. been looking there myself..I have funds and looking to buy, flip or JV there...

Regards

Andy

Diana T!...so did you ever buy on the Palm Coast?!. and what are your thoughts now?...

Regards,

Andy

Hi Jessica,

I am in Seattle but been an out of town investor for a while now. I have a few sfh and duplexes one of which is in Fort Myers 2 hours south of Tampa. I have spent a fair amount of time researching the best areas to invest all over FL. In New Port Richey just outside Tampa houses rent for $850 to $1050 with prices ranging from $85K to $115K which will leave you with much better cash flow as they have no HOA and taxes are around $100 month. These houses are not new so maintenance will be higher however typically they the are small rehabbed 1970's one bath concrete block houses (around 1000 sq ft) with newer roofs and newer a/c's that are low maintenance from my experience. I believe you might want to run some numbers on duplexes if you are intending on buying new as your cap will increase. You will be looking at the $300K plus price point and min 25% down with 2 doors though.

With Orlando an hour or so up the road and even Jacksonville only 3 1/2 hours away by car its a good central location to start out from. I can send you a link to some of the examples i mention above if your interested..

Regards

Andy