All Forum Posts by: Yariv Morchi

Thank you Ray and Beatriz!

Your feedback is greatly appreciated.

Hello

Does anyone have tips or suggestions on how to find foreclosure properties in Miami FL.

Thank You

Hi All,

I was wondering if anyone tried investing with them and if so how was the experience?

Thanks

@Kevin K. 

I looked at many deals and also think that the new developments are the best deals to have now in JC.  Many new developments will be with tax abatement (5 years).  They ar easy to maintain and usually rented with a small premium.  After 5 years when the tax abatement is completed hopefully I will be able to increase the rent enough to keep a reasonable cap rate.  I guess I have to compromise and lower my 7.5% cap rate to about 6.0%.  Thank you very much.  

@Jessica Zolotorofe I rather have turn-key for a quick income stream buy will consider a fixer-upper if it's a very good deal.  I looked at Jersey City (excluding Greenville) Union City, North Bergen, West New York and Wheekhaken.    

Hi Graffi

This is a good cash on cash return.  However if you can purchase with a mortgage your cash on cash return will be much higher and you can also buy more than one property with the same invested income.   Assume 4.5% 30 year fixed and 20% down and I will use 44000 as the purchase price.  Mortgage payment is 178.35.  The cash on cash return will be much higher and will be a function of your closing costs, rehab costs and of course mortgage rate.  Assume 8000 rehab and closing cost then c on c return is 16% and you can probably buy 2 or 3 property with the money you used to purchase one.  I am not sure if you can get a mortgage being from a foreign country or if you have someone you can take a mortgage together.  Another strategy will be to buy cash and then take mortgage out.  I usually do the latter since I am able to get a great deal buying cash and then after a year refinance and pull money out.  Hope this help.