All Forum Posts by: Danielle Larsen

 No, I had not found that site, but I was just looking at it, and it seems to be an awesome resource. Thank you! Do you have any multi family units in Dania Beach?

Hi Nadine, 
We are actually going to keep looking. After learning more about that particular sub-area, it isnt the right neighborhood, and including some unforeseen insurance costs, it isnt the property we are looking for. 

We do have a couple of handymen/contractors and a couple other skilled people (electrician, plumber, architect, landscapers) that will help us throughout the process.

However, as a real estate agent, do you or anyone you know work with investors?

Thank you for the insight. I ran it after figuring some more details with insurance costs and realized it isnt the deal I am really looking for. I think we are going to keep looking. 

Hello all,

My partner and I are looking to start off in the investing world by house hacking in the Hollywood, Dania Beach, or Ft Lauderdale areas with a multifamily residence. I have been listening to countless hours of BP podcasts (thanks guys, the information is absolutely amazing on those), and reading various blog posts. I found this triplex on Craigslist as I was looking for a nice opportunity for a place with a smaller unit that my girlfriend and I could stay in, and rent out two, hopefully larger units. Honestly, I dont care much about the size of the units as much as I do about how the property cashflows. 

Anyway, I ran the BP rental calculator, and adjusted the purchase price from 255k to 225k, and included 10k in the loan since the idea is to use the FHA 203k Loan to finance the mortgage. Do you think that I adjusted too much in the asking price, or is 25k a reasonable amount to negotiate down? I also do not know the specific variables for utilities and property taxes but based on what I have tried to gather for taxes on comps it seems reasonably close.
Please let me know if you see anything I missed, or you think I underquoted.

https://bp-v-newproduction.s3.amazonaws.com/upload...

Thank you in advance for any assistance you can provide.

Xavier and Danielle

Thank  you Noe and Steven for your responses! 

That was a very helpful article on 203k loans, particularly the database. We only found one that was within a few hours of us, but it gives us a place to start. This might be a silly question, so forgive this newbie for asking, but if someone claiming to be experienced in 203k loans does not show up in the database, are their claims not to be trusted? Should one only consider lenders that are on the database?

Thank you again.

Hello BP Community! 

So glad to be a part of such an awesome resource for people to come and soak up knowledge from some of the most experienced investors in the country! 

So, the plan is to invest in a Triplex or Fourplex in the Dania Beach area (with my partner), fix it up to good renting condition, then live in one unit while renting out the other units. That is just the start of our portfolio. Since this is our first investment, I was wondering if anyone can give us any good referrals to a mortgage lender who specializes in 203k loans, in the Broward or Miami counties. 

Thank you so much for any advice you're able to offer.