All Forum Posts by: Bob Razler

Hello @Craig Noyes :

Wow....so many possible answers to your question.  :-)

Anything that standing in the way of you getting all the information you need is always a warning sign.  

On the seller side:  A seller who won't allow a full inspection; won't provide information/documents you request; is not cooperative, etc.

On the property side: Issue with the neighborhood, vacant homes, comps much lower than your price, rents lower than those suggested by the seller, any issues in your home inspection, permit issues at the town hall, title issues, etc.

It really gets down to KNOWING your deal.  Know what you are buying and know what it can rent/sell for and have multiple exit strategies (sell, rent, refi, etc.).

Best of luck!

Bob

Hello @Kimberly Harten :

It seems that you could make the down payment on the contract price of $120k ($18k), then once you close, re-fi at the ARV to extract your equity or get a loan on the excess equity.

Bob

Welcome @Kevin Knox !  Congrats on your decision and your graduation.

I am in a similar situation as you (Palm Beach area, looking to house hack to start).  I have learned alot in the last 2 months.

Feel free to reach out and I would be happy to chat and share what I have learned.

Bob

Hello @Oscar Jacome !  It was great to meet you!

As with anywhere, there are good and bad areas almost community by community.  I would just spend a day driving the areas.  Take A1A north out of Jupiter, up through Hobe Sound, Port Solerno, Jensen Beach, Stuart, Ft. Pierce and back through Palm City on the way home.  Lots of great areas!

Feel free to give me a call to chat when you are up here and I will be happy to chat or answer any questions.

Bob

Hello @Edi C. :

Just to clarify, the non-lease restriction is in the HOA Rules and Regs, correct? Or was it in the deed?

Bob

Hello:

Please keep in mind that another name for a "developer" is a home builder. If you go to work for a national home builder (Toll, KHOV, DR HORTON, PULTE, etc.) you will get great exposure to land development (acquisitions, entitlement, improvements, sales, construction, HOA's, etc.).

I worked for home builders for a long time and I was always willing to help my team (supers, construction managers, admins, etc.) learn more about the process and improve themselves.  This will be especially true for the big nationals.

Bob

Hello:

Judging by your description the pad (won't call it a slab here) was just poured to give the area a level base (like a pool equipment pad or a AC pad).  It is "probably" not structural if it was poured after the walls with no connection to them.

If it's just to make a floor, you can demo it and pour a new pad (4" thick).  

Bob

Hello:

Make sure you check with your local municipality regarding the applicable zoning laws (in addition to the normal permits of course).  Many cities/townships/etc. have lot coverage or impervious area (house+paved+sidewalk) ratios that might limit how much you can add, if any.

Good Luck!

Bob

Thank you @Lance Lvovsky!

Thank you @Account Closed.  There are so many options to pursue and it's very exciting!