All Forum Posts by: Ecaterina Katerina Morosan
Ecaterina Katerina Morosan has started 1 posts and replied 196 times.
Post: Finding a deal
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
No offer is a bad offer these days. Start making offers based on your numbers. Do that before the rates drop. There are good deals out there now. The worst thing sellers can say is "no". Also, make sure you have a good legal team to help you with advice and due diligence.
Post: Finding a contractor
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
Hi Serge, we have a few contacts to share if needed
Post: Section 8 - any tips for this type of tenants?
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
Schedule in-person/zoom interview. Run your own background check and credit check in addition to public search.
Post: First timer here
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
Quote from @Sergio Hernandez:
Just looking for some type of mentorship and advices from people and investors about real state inventing world
Hey Sergio,
Welcome to BP community!
What exactly are you interested in? House hacking in NYC, first investment purchase, multifamily/condos/coops, value-adds? I'd be happy to answer any of you questions
Post: How I’m keeping things simple while building tools for my rentals
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
We use either regular spreadsheets => CRM => Zelle/Wire Transfer
OR AppFolio depending on how old-school or tech-oriented the client is.
Post: Long-Distance / Remote Real Estate Investing – Guidance & Connections Wanted
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
Quote from @Johnny Silverio:
Hope all is well. I’m seeking advice and guidance for a real estate investment strategy I seek to execute, specifically in the remote space. My goal is to construct a team to thrive with, both virtually and, where possible, locally (may be limited due to availability).
I’ve committed to investing and have the liquidity to explore many options. I’m based in New York City but spend a good portion of the year abroad while completing a degree. Due to this, I’ve focused on virtual/long distance investing. At the moment, I’m narrowing in on turnkey properties and Section 8 rentals as a strong starting point.
All who are open to breaking down a solid process, feel free to message me or reply here with all the insight you can. I’m open minded and will hear all advice. Honesty and bluntness are welcome, realistic expectations are important to me. I understand that starting simple may be necessary, but I’m highly driven and view this as a long-term venture for the future.
Hey Johnny,
We've been helping investors like yourself in the two markets of NYC and South Florida. We've noticed that people who accept Section 8 tenants by conducting in-person interviews and doing their homework on pre-screening and background search are way happier with their tenants and the outcome.
Also, let's not forget, most of the time the turnkey properties that are cashflowing under sec 8/voucher rental ceiling payments are in up-and-coming neighborhoods so that gives you long0term strategy of holding the properties while cashflowing and not losing on vacancies.
Post: When will I get an applicant
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
Hey Angela, congrats on your new investment!
We've been managing rental vacancies in SoFlo for many years now and I can tell that the inventory amount is much higher now than 1-3 years ago. Therefore, days in market are longer.
The goal is to find a long-term good tenant who is there for school zoning/work proximity/close to family etc. So you don't lose on vacancy very year. Also, when signing the lease, make sure to include a clause/addendum requesting the tenant to give access to show the place if they don't renew 30 days before the lease ends. That will allow you to put the rental on the market and start showing it 30 days prior to the tenants move out.
Post: Buying Multi-Family - Negotiating a Home with Existing Tenant
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
Hey Dennis, we negotiated on our buyer's behalf in a similar transaction in Brooklyn. We requested the seller to put money in escrow to cover all potential legal fees as well as rent loss while the tenant is being evicted.
Let's say the eviction lawyer can give an estimate on what the legal fees are and how long it'll take to evict the tenant (rent payment x number of months). Total amount must be kept in escrow after closing and not to be released to the seller unless there is some remaining amount by the time the tenant is evicted or moved out.
Your attorney should be able to advise the best reasonable but protective strategy.
Post: Where do I start?
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
Quote from @Tamar Levin:
Thanks everyone! Can someone explain how the broker fees work? Are they usually covered by the lender or the buyer?
They'll be factored into your closing costs so loan origination fees related to the loan are on buyer upon closing. Sometimes, depending on the deal, you can finance the closing costs or get credit from seller. Again, depends on the market and the deal itself.
Post: Looking what market to invest in as a beginner
- Real Estate Agent
- Miami, FL
- Posts 209
- Votes 94
Hey David,
We have a lot of NJ and NY people buying investment properties in FL. First, the come to FL pretty often so it's easy to know that you can visit and check the property while on vacation. Second, prices are more negotiable these days. Third, appreciation is one of the highest in the country. Happy to chat!