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25 February 2021 | 7 replies
Unfortunately the only way to disqualify them was going through the process until I found the property was a second position, hoa, foreclose was deficient, surviving liens etc..Creating a report with only relevant data, grouped and ordered a certain way would allow me to see disqualifying characteristics very quickly...so that what i set out to build I started with only a few fields (case number, folio, address) used that data to look for other data like owner names , then that data to check for liens, mortgages, court dockets , violations, tax bills, permits, etc..it was definitely a challenge to say the least.Data is vast and its spread out in many sources all with different challenges i.e search parameters, integrity and availability To name a few...
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24 December 2020 | 18 replies
There is a lot in Condos with HOA rules and fees.
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26 December 2020 | 3 replies
I currently own 6 condos near Miami area, I paid cash for all of them, the cash flow that I am having i think its low, I did a balance on this year, and the overall 6 condos are rented for about 7400 monthly and my net profit its about 40% of that rent (annualized), I think that I can do better due HOA fees mainly.Today I took advantage of the appreciation of 2 of them that raised about 55% (-8% sales fees) in the last 6 years, and I am wanting to purchase a better cashflow properties with that money.I want to get my first single family, because I think that I am not even over 50% rule on rent because HoA fees.
23 December 2020 | 0 replies
This unit is shared with other units so some of the expenses I've listed include HOA fees.Cost 110KCash (including closing cost) 46KFinanced 70KIncome: 1200Expenses: 400 + 550 note = 950 ( need some reserves built in for maintenance, please advise)Net: 250 (also roughly 250 will be added equity with monthly payment reducing the loan balance)
23 December 2020 | 2 replies
This unit is shared with other units so some of the expenses I've listed include HOA fees.Cost 110KCash (including closing cost) 46KFinanced 70KIncome: 1200Expenses: 400 + 550 note = 950 ( need some reserves built in for maintenance, please advise)Net: 250 (also roughly 250 will be added equity with monthly payment reducing the loan balance)
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24 December 2020 | 6 replies
Property: 2/2 condo unit, 1150 SQFTLocation: Orlando, FL, 5 minutes from Universal Studios, 15 minutes from Disney WorldEstimated Rent: $1300, monthly profit $761/month (including insurance, HOA, property management fees, taxes, and estimated repairs.
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24 December 2020 | 2 replies
I'm curious for those that own a short term rental in Myrtle Beach or those that have researched it, is there still cash flow opportunities or have real estate prices and fees (HOAs, licenses, etc.) made it difficult?
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26 December 2020 | 8 replies
HOA fees must be below $500/month and preferably under $400.
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25 December 2020 | 3 replies
I bid HOA lien unknowingly, what the is best suggested path?
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26 December 2020 | 2 replies
I rented it using an agency and their fees combined with the high HOA fees made it a negative cash flow in that setup.