All Forum Posts by: Vivianne Salazar

Welcome to BP Jona! Follow the forums, set up your keyword alerts, listen to the podcasts and pretty much just hang out here because it's a great learning environment. I like your goal of international REI and look forward to hearing of your success. Dominican Republic is one of the places I'd like to to visit in the near future.

As they say, be careful what you wish for. Just received notice that Ocwen has transferred my loan to Green Tree Servicing and based on online reviews they are also horrible to deal with!

Thank you for pointing that out J Scott.  I am not worried about being locked into the deal but it's more of a courtesy not only to the bank but also to my realtor that I am no longer interested beyond that date.  And banks don't care much for a lot of things anyways.

There are different levels of assisted living facilities (ALF) or residential care facility for the elderly (RCFE).  Do you want to provide a facility for higher functioning seniors ("walkie-talkies"as they are still able to walk & talk, with or without mild dementia, level 1) or those requiring higher level care (assistance with feeding, dressing, bathing, getting in and out of bed - those with advanced dementia and multiple medical issues, level 2-3 thus requires higher rent)? Nursing homes are a completely different setting, ALF residents usually move to a nursing home when they require more care. There are also SNF's (skilled nursing facilities) with rehabilitation centers.  Then there's the Independent Living Facilities attached to ALF's. These settings are usually owned and managed by the big healthcare companies.  Keep in mind that there are state inspections that you have to undergo to make sure you are providing the appropriate care.  An added bonus is you may get to deal with some wonderful homehealth providers! If an ALF is something you want to pursue, best of luck to you.  

Agree with posts above particularly @Mark Elliott and @Jeff Copeland. I put an expiration on my offer so if I don't hear back I know I can move on to another deal. And my offer is based on numbers that work for me, not the seller/bank but I'm pretty conservative with my approach.  If I had a bigger budget I would probably engage a bit more in the bidding war.

@Eddie T.

 I just gave my bank routing number & account number and my tenant was able to set it up through their online banking. Doesn't even have to be the same bank.

@Steven J. thank you.

Snow bird rental is another option I'm considering.  

@Mark Higgins thanks.  That makes sense.  I'm just starting to piece together that strategy of selling through payments.  Probably just had the resort tax in my mind from the yearly reminder from the tax collector about tax for rentals under 6 months.

My experience has been primarily in buy-hold-rent and am just learning about manufactured homes since hearing John Fedro's podcast.  Am I understanding the Florida Statute correctly that if I buy a mobile home where I pay monthly lot rent, I am locked into a one year rental agreement?  I guess I was under the impression that since this is a snow bird and tourist state that there were shorter terms.

Congratulations @Andrew Davis and to your BP power team!  Will definitely want to hear of your continued progress and success.