All Forum Posts by: Dexter Samour

Hi Mitchlyn

I use this roofing company for both commercial and residential as well. They are always punctual and well priced. Give them a call and tell them Dexter Samour sent you. Feel free to reach out and ill provide his contact info.

Hello @Isabella White

I am a real estate broker here in Miami Fl. Depending on your goals I believe that with your current budget its very feasible for you to pull of the House Hacking strategy here in South Florida. I would recommend Broward County just because the market is less saturated compared to Miami-Dade county. There are also more Duplex, Triplex and Quads is Broward county as well. If you can provide me with a bit more information on what metrics you are trying to achieve I can help you find a property that meets those numbers. Feel free to DM me if you have any questions.

Hello Aaron

I primarily work in Miami-Dade county and here its very common to find SFH's and Town homes that have either a garage converted into a bedroom or an efficiency (in-law quarters or bungalow) built out in the backyard. If you can find any of these types of properties in Broward county you could use the extra room or efficiency to help generate income while still be approved for the same FHA loan to house hack. In South Florida you might have to get more a little more creative than just purchasing a duplex,triplex or quad.

Most of my business is in Real Estate and real estate related activities but for the last few years I have studied and invested in the very volatile crypto currency markets. To all the Bitcoin naysayers out there these are just some of the reasons I feel a deeper understanding into Bitcoin is worth the time......

Bitcoin is an uncorrelated asset, decentralized payment network and digital store of value.

Large companies like JP Morgan  and Facebook are now getting into the crypto currencty space. 

Bitcoin will be soon be traded on Fidelity (manages 2.45 Trillion in assets)

Bakkt will soon launch Bitcoin futures. (Bakkt is owned by ICE which also owns the New York Stock Exchange).

There is geopolitical turmoil all throughout the world ( US and China tariffs, Venezuela, ect.)

Bitcoin which is seen as digital gold has been used as a safe haven to transfer wealth out of oppressive regions of the world. 

Bitcoin is also the top performing asset of 2019.

All that being said Bitcoin is a very new technology and the value of Bitcoin EXTREMELY speculative in nature. If any does plan to invest into Bitcoin dollar cost averaging seems to be a safe and hassle free approach. 

*** THESE ARE MY PERSONAL OPINIONS ALONE, I AM NOT A FINANCIAL ADVISOR AND I DO NOT GIVE FINANCIAL ADVICE ***

@Andrew Postell I’m kind of new to the forums so I didn’t know exactly where to post the question. I will go ahead and ask some local lenders for their input.

@Scott D Burrows I will let you know if I find someone willing to lend on these types of condos.

I spoke with the association and was told that more than 51% of the units were renters and I read that would make that unit "non-warrantable" according to the new Fannie Mae and Freddie Mac guidelines.

• Fannie Mae and Freddie Mac use the term "warrantable" to describe condominium projects and properties against which they'll allow a mortgage. Typically, a condo is considered warrantable if no single entity owns more than 10% of the units in a project, at least 51% of the units are owner-occupied, fewer than 15% of the units are in arrears with their association dues, the homeowners association (HOA) is not named in any lawsuits, and commercial space accounts for 25 percent or less of the total building square footage.

@Scott D Burrows Thanks for the quick response! I’ll look into those options.

Hello BP Community,

I was wondering if I could get  a recommendation for a mortgage company that is willing to do a cash out refinance on investment condos that are deemed "Non-Warrantable". I'm in South Florida and the range is between $70,000- $90,000.  Has anyone had any experience with this type of loan?

Thanks

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Hello Bigger Pockets Community

I'm a real estate broker in Doral Fl and found this potential off market fix and flip deal. I wanted to know if any experienced flippers in the area would mind taking a look at my rehab estimation and ARV to see if I'm on the right track. Any insight or tips would be helpful.

Thanks

Hello Gero

As a real estate broker in Miami I know that we are required to keep executed leases up to 7 years if i'm not mistaken. I believe that is a good practice to keep for both residential and commercial leases.