All Forum Posts by: Thomas Wever

Hi @Nick F., welcome to BP. I am also investing in certain areas of Florida. I'm in South Florida but offer on anything from central (Brevard County) to south (Miami-Dade County) FL. If you need anything in the area feel free to reach out, good luck!

Sounds like your friend put in some work to put you on the right track but probably pitched you a dream that it was going to be easy money. Seems like your idea of pulling that equity from the NOVA property to invest in Indy is a good way to get the ball rolling, keep us updated and good luck!

@Andrew McIntyre Great scenario, I was looking at a similar situation. I would also say to run it through the BP calculators and get a clear picture of where your cash is coming and going...

https://www.biggerpockets.com/buy-and-hold-calcula...

@Jeff Copeland that is a detailed breakdown of how we should look at the numbers and great examples, Thanks.

Watched the video posted above. Short, informative and to the point, great job...Thanks

Great, thank you for the info I will look into that.

Hi everyone,

So we have been trying to invest in Florida for the last year, while just monitoring different markets in our area and running numbers but so far nothing. My question is about how we can finance our investments. Basically my wife's father bought us a property, all cash in 2013 for 280k. The property has since appreciated and current comps put it conservatively around 400k. My father in-law kept the property in his name with the intent to transfer it but never got around to it.

We want to use the equity in our house to come to the table with cash on two rental properties (100k-130k each) within the next 12 months. At the same time my father in-law is ready to "transfer" the property to us. 

I guess the ultimate question is what is the best way to get the property into our (wife and I) name so we can utilize the equity for future investments? And once we do this will we have to go through this "seasoning" period before the banks will allow us to pull out the equity?

Hope this is in the right forum.

Thanks in advance for any tips or advice, can't get enough of BP!