All Forum Posts by: Angelica M Garzon

Hey Zach! 

I would start by getting a pre-approval from a lender for your FHA loan. Once you have that, you'll be able to analyze and make an offer on any deal that makes sense.

I suggest you look for properties without a realtor so you can ask for 3% discount on price or to be put towards your closing costs (this is what i did with my primary residence). This mean i only had to bring 7k to the table for a 290k house. 

To do this you will have to contact the listing agent for every property you find. 

To house hack I would also make sure that you analyze the market rent for the unit you will be renting out to make sure it covers a good portion of your mortgage. If you're in a good short term rental location, i suggest you take that into account as well and decide which of the two will give you a better rental income. 

Lastly, if you want to house hack make sure you have 20-25% equity in the home after repairs to make sure you can do a cash out refi and get all your money out. 

Hope this helps and good luck! 

Hi George! 

That's great progress! 

I would skip trace the owners address and mailing address to see if you get a hit and call them. 

I would then find out how much the tax certificate is for and how many more years it needs so you can purchase. Also, if nothing comes up on owner check to see if maybe he/she is deceased? That might be another way to acquire! 

I live and invest in Fl so feel free to reach out if you have any questions or want second eyes on a deal! 

Hi Maya! 

I loved every part of your post! I live in south florida incase you want to connect or get a cup of coffee! 

Taking the first step is difficult but if you break it up to smaller steps it can become less scary! 

What kind of rental do you want to acquire ? SFH? Multifamily?

What's your budget (20% of purchase price)? 

How will you purchase your first rental? Hard-money? Conventional? FHA? Cash?

Where do you want to buy? Close by or do you mind long distance? 

The answers to these questions will build a path towards your first investment because they will narrow what you're looking for and make it easier to acquire. 

These were all rhetorical btw lol just questions i asked myself before buying my first property! 

Hope this helps and good luck! 

Hi Gary, 

Try Credit unions, I know Space coast does HELOC on investment properties. I am not sure though if you can open an account with them since you're out of state.

Hi Danny! 

I live and invest in Florida and can tell you it's a great market. You will have to try and get your properties off market because houses are very expensive right now since there's high demand. However, finding a good deal depends on you and the team that you build in whatever market you decide to focus on. 

What are you looking to purchase ? SFH? Multifamily? Depending on that I would focus on markets like Sanford, Orange City, Deltona, Eustis, Lehigh Acres, Fort. Myers and maybe Tampa?

Hope this helps and feel free to reach out if you have any other questions or want a local to look at a property for you! 

Kevin, 

I personally would not go forward because having trust in a business relationship is everything! 

If you're having second thoughts... that sounds like your gut intuition talking LOL .

An OA will only protect you until a certain point but if they drop the ball and stop holding up their end, what are your options? sewing? Mediation? that's costly. 

Hope this helps and good luck on your decision! 

Hi Brandon, 

I invest in this area too. Are you trying to wholesale or buy for yourself? 

Wholesaling= volume. You will get a lot of no's before anyone signs a contract with you. Keep trying and stick to your numbers. 

Personal purchase- You mentioned the seller wouldn't budge. I must make at least 5 offers per week. They all get turned down. I put them on my calendar and reach out every three weeks. If you know your max offer price, stick to it. You will get a deal !!! 

Good luck! 

Hi Amy, 

is this for AIRBNB or long tern rental? 

Airbnb- I think you could shop around and get 15-20%. I personally charge my clients 20% if the property has never been on Airbnb and 15-18% if it's established or "superhost" status. I charge a flat fee for interior design - $250+ depending on size. But again, this works for the investor because it is a one time charge rather than a 10% additional charge per month! 

Long term- This is crazy!!! LOL i would not pay more than 10% and a flat fee if they're doing additional services. 

Hope this helps and good luck! 

Hi James, 

Congrats on your investment! 

I would evaluate both on their professionalism and work ethic with you until now. You are not married to a PM so if the one you think is a better choice doesn't work out two months from now, you can change. 

If your property is vacant, I would check responsiveness and how quickly and thoroughly they handle putting a tenant into your home. They should provide you more than 3 applications, post your house on all free sites, get it rent ready and conduct tenant screening. 

If you start the process and red flags come up change PM's before it's too late ! 

Hope this helps & good luck!

Hi Nicole, 

I am in the process of moving into a 1/1 apt that 800 sft with my daughter to house hack. I am terrified, mostly because i think she will feel the change more than me but then i remember kids are very adaptable and i feel better. If this is going to help your family long term, i say go for it. Kid's don't really put much importance into such things. In my opinion it us as grown ups that have a hard time with such changes because we become accustomed to certain things and find it hard to change our habits. 

I hope this helps and good luck!