All Forum Posts by: Billie Cousans

Thank you Jorge Fernandez, that is very insightful. I also see new developments popping up everywhere and wonder how they are being funded as they seem very expensive considering the current market.

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Originally posted by @Adam Schooley:

Generally if the HOA or Condo association doesn't have enough in reserves the lenders will require you to put 25% down. If I were you I would talk to a mortgage broker that can answer all these types of questions for you. You will want one on your investment team anyways. You can PM me if you want a local reference.

If you could send me a local reference for a mortgage broker that would be great. Thank you

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Originally posted by @Brian Garrett:

@Billie Cousans I would stay away from condos personally especially in Fort Lauderdale and Miami where there's significantly more supply than there is demand.

Hi Brian, Why would you advise to stay away from Condo's and where do you recommend I invest?

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Originally posted by @Lance Lvovsky:

@Billie Cousans Do you have enough equity in your home to do a cash out refi or a HELOC and then turn around and use the funds to acquire a condo? Private money is also an option.

If you need a good mortgage broker, let me know. I have several that I use and that my clients use on a regular basis.

Yes, we do have enough equity but I read somewhere that was not a good idea as I would then be paying back 2 loans? If you could send me a local reference for a mortgage broker that would be great. Thank you

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New to REI and looking forward to getting stuck in. I currently work part time in non real estate related work. Looking to use equity from my current home to purchase a condo or two in Broward County. I have a problem as many of the condo management companies do not have a contingency fund that is required to get a mortgage. Anyone know best way to get around this issue? Any suggestions would be greatly appreciated : )

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All Forum Posts by: Billie Cousans

Billie Cousans has started 1 posts and replied 5 times.

Post: New to REI from South Florida

Post: New to REI from South Florida

Post: New to REI from South Florida

Post: New to REI from South Florida

Post: New to REI from South Florida