All Forum Posts by: Antoine Martel
Antoine Martel has started 10 posts and replied 2212 times.
Post: Is it possible to get under 20% down payment for ...
- Rental Property Investor
- Miami, FL
- Posts 2,325
- Votes 911
Sam.
In the states the lowest is 20% through conventional financing and Canada has the same.
Lower than 20% is not going to be conventional.
Post: Connecting with investors
- Rental Property Investor
- Miami, FL
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Neal. You can also go to the network tab, plug in your zip code, and start messaging people in your area. Take them to coffee and network!
Post: Setting up an LLC for first rental?
- Rental Property Investor
- Miami, FL
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If you're going to get conventional financing then no. Fannie Mae is going to require you to buy the property in your personal name.
Post: Advice on Purchase Options for 1st rental
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- Miami, FL
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I wouldn't recommend it. I sell houses for $70k that make the same amount of cash flow with just $20k downpayment.
The property doesn't meet the 1% rule either.
Post: How hard is it to do a long distance fixer upper?
- Rental Property Investor
- Miami, FL
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Nancy.
I invest heavily in Memphis and it hurts to hear that you are having this problem with the tenants and also the property management company.
I would recommend finding a new property management company and using the contractors that they have on call to make the renovations to the property.
Let me know if you need any property management recommendations.
Post: Structuring Partnership Deals in Large Multifamily
- Rental Property Investor
- Miami, FL
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You get 30% of the deal to manage it. He puts up all the money and gets 70% of the deal
Post: Financing My First Rental
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Originally posted by @Jerry Padilla:
@Antoine Martel
Yes, a HELOC is the only option that allows you to do those with a purchase. They don't see a HELOC as borrowed funds, like they would a personal loan or credit cards. They view it as equity from the property.
Oh wow. Thanks for the info!
Post: What are great Midwest Markets for my first Rental?
- Rental Property Investor
- Miami, FL
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Originally posted by @Marisa R.:
Originally posted by @Matthew Insley:
I invest in small multifamily properties in Springfield OH. This is a great way to get a good return with diversified risk. Check out the deals that I shared in my profile. My issue with SFR is that if you have an eviction or other issue with a tenant, you have $0 coming in. I had an eviction last year in my 4 unit and still made money.
But that is why you buy volume ie 5, 6 SFH etc mitigates the risk
I agree. I always tell people to grow a portfolio as fast as they can.
Post: Where to start investing in real estate?
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- Miami, FL
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Originally posted by @Alvaro Rodriguez:
@Antoine Martel that’s included in the monthly payment. The real number is $1487. With insurance also.
Seems like a pretty good deal if you can get that rental amount.
Post: Where to start investing in real estate?
- Rental Property Investor
- Miami, FL
- Posts 2,325
- Votes 911
Originally posted by @Alvaro Rodriguez:
@Antoine Martel interest on the rest of the mortgage is 4.475. Monthly payment with HOA and annual tax is $1500. I looked around and the range of houses getting rent in the same block or area go from $1800-$2200. Are these numbers ok numbers? I'm new at this so I was looking to see what makes more sense. Thanks for the feedback
How about insurance?