All Forum Posts by: Donavon Davies

Hey Jesse,

I'm out here in West Palm Beach also. I can help you on question #3. The FHA is going to come with a lower interest rate and a lower down payment of only 3.5%. I think the difference between FHA and the Private lender is that FHA will require more documentation, and time to close. They also only allow 1 FHA loan at time.

Welcome to BP! I've been on for about a month, and its turned into a daily knowledge base for me.

I am planning to attend. I look forward to meeting you guys.

Is any one investing in the Belle Glade, Pahokee, South Bay area? I see that there are just a few properties listed and wanted to know if anyone has expertise in the area.

Hi Andres,

Do you think the market can support that ARV? Do you have any information on the 3 distressed comps post prehab?

No, I'm not a member. I do want to go check them out though. I just found biggerpockets about a month ago and just stated hearing about the REIAs also. 

Hi Marty. Nice to meet you! I'm also local. What kind in work do you do? Might need you on my 1st BRRRR in the near future.

Just wanted to say Hi to all!

I've posted on a few of the forums and I realized I didn't do my introduce myself to the community. My name is Donavon Davies, and I'm here in the unincorporated area just west of West Palm Beach. I'm looking for my first residential income property. Buy & Hold with high cash flow is the way I am going. My preference is multifamily.

I would love to be of assistance to any current real estate investors in the area.

PS - HAPPY THANKSGIVING!

@Troy Young @Aaron Eckhardt Thank you both. The appraiser actually came out to my house today, so I should hear back soon on how much exactly I will be able to pull out. After hearing all these podcasts and reading all these post, I am excited to get in the game. I was also told that they look for about 2 months on the funds in the savings account before being able to use the money for a downpayment. 

I just wanted to bounce this idea off the forum. I thought that I would be able to find something already on here about it but I couldn't. I'm in the West Palm Beach area and I bought my primary resident back in 2012. I have see some great appreciation on the property and potential have about $70K of untapped equity to pull out. I was thinking about taking the case out now while the rates are lower, putting the cash in the bank and using the money to fund my first ad subsequent deals. I understand for additional conventional loans the banks need to see the funds sitting for 2 months or so. 

I would then also be able to use the money to potential grab a cash deal or as first planned to have down payments.

Am I approaching this correctly?

Thank you,

Donavon, in Palm Beach County, FL