All Forum Posts by: Share Ross

Hey @Jordan Soto, yes, house hacking with FHA is totally doable and I've helped quite a few investors do that here in South Florida. (Delray Beach, Boynton Beach and Lake Worth areas mostly.) You definitely need some cash saved up for closing costs AND the down payment. And then, get to know the areas you're looking at. The competition can be fierce... yes, even with Covid19... so it pays to be ready! 

Reach out to more lenders. If they do their own underwriting .... they might have diff rules 

Oh, if you want to research my colleague, it is Nick Scogna 

I got a guy for you who specializes in Jupiter and that area. He's the bomb! I'm Palm beach County but that's too north for me. ;-) 

Hey Kathleen 

That should be doable of course depending on what you want to get ! 
Just about to close on a duplex under 300! 

Let’s talk when you’re ready. 
😉

HI @Kathleen Contreras and welcome! Yes, as a realtor, I've helped a couple of BP folks in here to househack! A duplex in Lake Worth and a 3 bedroom town house in Boynton Beach. All depends on what you're looking for and your budget. Both properties were in desirable neighborhoods. Both buyers were first time buyers. As both @Mitch White and @Brian Garrett said... those areas a little north can offer more bang for your buck in terms of a duplex. 

Hope that gives you some hope! 

@Drew Simpson. LOL on Hubzu. :-) 

STR is Short Term Rentals. Like AirBnb etc.

Hi @Drew Simpson

Hubzu are tricky to deal with. I've done a deal with them before repping the buyer. If I were you, I would avoid Hubzu deals or else be prepared to have a challenging transaction! LOL 

Yes, foreclosures can be very rewarding. But you'll want to avoid the membership communities. Very tough to flip in there. If you have a big budget, you can look at other areas that can be flipped and then used for STR. Do the research on Air Dna or even just AirBnB ... lots of ways to get in. Depends on your budget, your crew and your expectations. Agree with @Jonathan Greene... forget about the giant homerun especially with Hubzu. That being said... the deal I helped my buyer with ? Once we finallyyyyy closed and after rehabbing .. he has MAJOR equity. He's an owner occupant and verrrry happy with his Boca Raton home. :-) 

@Jeff Mack that’s great. There is a group for delray and surrounding areas. Now meeting virtually once a month until it’s safe to meet in person again. Fantastic group as well! @Jon Huber can invite you next time !

@Jeff Mack Yes, I know Golden Lakes. I'm not sure on that one for purchase and renovation - if you need someone over 55. I'm happy to find out. The monthly HOA dues are $3xx so please figure that into your equations as well.

One thing about WPB for flippers is the permits. Have you talked to the city about permit prices? 

@Brian Garrett Indeed!