All Forum Posts by: Ecaterina Katerina Morosan

Hi Errol, we're all here for the same thing hehe. Let's chat!

Hi Margharita! 

As an immigrant myself, it took me quiet some time to understand the credit report system in the US. And yes, it does take time for people to become more stable when it comes to housing, life necessities, car purchase/lease so that affects the number of credit inquiries. And obviously 1-2 years of credit report lifetime is not sufficient in the US. SSN may be invalid due to visa status they arrived with and then changed to a different type. I'd verify on that and request legal status verification (A-number, green card, active work visa etc).

But in general it all depends on the person, and I agree, as a landlord you have to do as much due diligence as possible to be protected.

Christopher, this is totally doable. We've had good experience with FHA 3.5% loans in Brooklyn. And now, with the new 5% conventional, a lot of first-time investors are taking advantage. I would also throw in seller buy down concession or seller credit at closing to minimize payments/cash at closing. First thongs first, talk to an investor-friendly lender so you van get a better idea of all available programs you personally qualify for and that will give you a good idea of where and what to look for. And then, contact a local investor-friendly agent who can help you with the search and purchase process.

Hey Adonis, yes I can share my contact with you. I'm working on the same loan approval now. The terms are pretty reasonable, and the qualification process is so much easier. DMing you

Hi Vinicius, happy to connect with fellow BP members in Miami! 'm excited for you making the actual first step into the real estate investment game. There are good deals to be made in the current market in Miami compared to the past few years. Happy to share our experience in the market lately if needed. Best of luck!

If the numbers make sense in the current market, they will make even more sense if you add value, refinance in lower interest rate, negotiate better terms etc. 

Remember, NYC market is a totally different beast. Make sure you talk to local real estate experts and try not to apply nationwide data and market trends to NYC market if you're looking to stay locally. Best of luck!

Condos can be a good investment in Miami, but rarely and depending on the building. We have a list of good income producing condos even with the current HOA but it also depends on the down payment amount we're considering for the full analysis.

Multifamily can be a good option. FHA or 5% conventional can work in non-core Miami areas. If we're talking high down payment (or sometimes even 5% conv), you can be in a good up and coming area of Miami while gaining appreciation and later on cash flow.

Hi Klesta,

As a real estate team in South Florida, we're seeing good returns on furnished mid-term rentals, whether it's single family/condo/multifamily. Although, multifamily is mostly long-term due to location as most of them are located in non-touristic neighborhoods. 

We've seen our past and current out-of-state clients often using HELOC. And it's been working good for them.

Good luck!

Hi Christopher, I'm helping my friend promote his single family rental in Ft Lauderdale as well as our team helps our investor clients with finding qualified tenants. So far, from our experience, 90% of all inquiries and showings we get are through MLS from tenants agents. There is enough rental inventory on the market these days, so you want to expose your listing via as many consumer and professional websites and portals as possible. Also, from our experience, tenants agents bring the most qualified tenants as most of them go through pre-qualification process before scheduling tours. Hope this helps!

Hi Carlos, DMing you now