All Forum Posts by: Suzie Remilien

I'm a new investor in the Fort Lauderdale area as well and I have the same question about repair estimates. Thanks in advance for any replies.

@Tracey DixonMany congratulations! I joined auction.com a few months ago, but I haven't used the service because I'm still not clear about how it works (clearing title on properties/not being able to see properties, etc.). Your story has inspired me; I'm going to take another look at the site keeping in mind some of the warnings on this thread. 

Congratulations, Michael. Very motivating and appreciate the reminder to "expand horizons." :)

@Donovan Keim Many thanks for the advice. I have been saying up front that I plan to owner occupy the duplex. Two of the banks I've dealt with say that I do not qualify for FHA because I already own a rental property and because the duplex in question at the time was miles from my job.

@Account Closed I'll try HomeStreet. Thanks for the suggestion!

@Donovan KeimHi, Thanks for reaching out on BP! Like you, I'm interested in low money down real estate investing.

I'm in Seattle, Washington, and I'm trying to find a bank that will approve me for FHA financing on an owner occupied duplex. I already have one other investment property. I'm being told that I will have to put down 20% if I buy another property. Any thoughts on my situation?

Hi Faraz,

Thanks for your question. 

There is no right or wrong answer to your question. The answer depends on your personal goals and preferences. You would need to answer some of these questions yourself:  how many people are in your family? Is it in a neighborhood that you like? Do you plan to entertain a lot? Is the house in an area with good schools? Do you want something that is move-in ready or requires some repairs, etc. 

I don't consider a house built in the 1980s old, but maybe you do. And if that's the case, you can add age to your criteria when looking for a house. 

Hi Vilcene,

Welcome!  Consider attending a local meetup such as the Real Estate and Business Network. They meet at the Denny's in Fort Lauderdale (9th Avenue). If you haven't done so already, talk to a mortgage planner to get your financing in place. 

I'm hoping to buy a small multifamily property in the Fort Lauderdale area too, but I will not be living in it. I grew up in Fort Lauderdale, but I live in Seattle now. I've set up a property manager who will handle everything for me. Good luck!

I'll be there!

Thank you all for your responses. The attorney was able to get the information he needed from a data sticker on the mobile home.  

Our attorney has requested the loan origination appraisal to research the title.

Neither the note seller or servicer have the appraisal. A document retrieval company is unable to find it. We're trying the homeowner now, but I'm not hopeful since they abandoned the home 4 years ago. Any suggestions?