All Forum Posts by: Ecaterina Katerina Morosan

Given the latest circumstances with weather cataclysms, I convinced myself that buying condos on higher floors in FL is a smart decision. And this is exactly what we're doing. Just make sure you run your numbers. Maybe cash flow will be lower in the beginning, but most likely it will be significantly higher in 4-5 years. Renting condos by room can be a good idea to increase your monthly cash flow. 

 Congrats on your first transaction! I was about to say that money order should work and here we go :)

Hi Michael, depending on your budget I would recommend Brooklyn NY, Ft Lauderdale FL, North Miami Beach FL, Orlando FL. These are some of the markets most of our investor clients are interested in. We've run a number of studies to "predict" the market in these areas in terms of population growth, infrastructure, Income growth etc. I'd be happy to share our insights if needed.

Residual income is my second major income source. Hard money lending works pretty good too.

Our team has been using The RedX for years. Their leads are low-cost, and it's easy to target specific areas that you want to farm. 

Hi William, our investor-friendly team have helped many out-of-state as well as local investors with finding great STR and hold investments in Tampa. Would be happy to hop on a call and discuss strategies and options.

Brandon, you can keep the tenants for now month to month with 30-day notice to vacate when you have a contract signed with a buyer. But make sure the tenants don't give you issues with moving out. You know the tenants, so if you you think they're not as trustworthy, you might want to vacate the property before putting it on the market. 

Definitely go with a local realtor who knows the area and has a database of investors who are willing to pay top dollar for the property. Otherwise, the less exposure you get the lower offers are.

Totally agree with @Abel Curiel on everything!

Working with a client who's purchasing a gut coop in UWS. Obviously has to be a cash deal due to its condition plus cash required for renovation. But we're looking at $150K+ in profit after resale. They'll have to live in that unit for a few years which they don't mind doing. Most coops won't let investors in for fix and flip or even BRRR. In your case, you're the coop shareholder and you know the board and how strict they are. Make sure they approve your purchase as some coop boards like lowballing on distressed units using coop savings and flipping the units themselves towards the coop profit (if they have enough in savings).

Hey Alexis!

You have a great starting point. For now, you have to find out for yourself where you want your first investment property to be located (for example, Ft Lauderdale is a great choice due to no income tax, large airport, easy access to I-95, growing population and infrastructure etc). A lot of my friends are truck drivers, and they're moving from WA and IL to FL simply because it does make sense for their business and families. 

The next step would be to discuss your loan options and investment strategies. You need to partner up with a local investor-friendly lender and agent to come up with a plan and break down current and projected numbers. They'll be helping you throughout the process even if you're away. So make sure you go with reliable specialists.

 Hi Abel, NYC is a different beast when it comes to real estate investments. I would say multifamily are better investment than single families unless it's a quick flip. But the investment strategies depend on the cash available to you, mortgage qualification, short and long term goals, cash flow or appreciation etc. I'd be happy to dive into this with you and discuss your personal sitation and how it can applied to NYC market.