All Forum Posts by: Ecaterina Katerina Morosan

On my end, I see it as a great opportunity for any landlord: 3% rent increase, no vacancy, same tenant for years. Try reaching out to investor/LLC owned properties. Good luck!

Hi Jennifer and Welcome to BP!

Are you mostly interested in investing in NYC suburbs? If so, I think the best property type for you to explore would be small multifamily houses in Brooklyn and Queens. Brooklyn for its appreciation and higher rents, and Queens for more affordable prices. Talk to an investor-friendly lender and explore your options with the lender first, and then knowing your budget contact an investor-friendly real estate agent fir market insights and trends. 

Hi James, are you a real estate agent or investor? Also, what market are you in?

Hi Brad, it seems like you're looking to house hack or use homeownership as a way of investing in real estate and saving money on rent payment at the same time. And this is a great idea!

So, the property type depends on your financial qualification. The first thing you should do is talk to a local real estate agent and lender who work with investors primarily and know the market. 

Happy to share my preferred experts in Westchester if needed. Good luck!

I am sorry you and your agent have to work with such an incompetent listing agent/broker. My client and I just closed on a similar transaction in Queens, where the listing agent/broker was the owner of the franchise, and she was cease and deceased by her clients' attorney for unprofessionalism. Now I'm curious if this is the same lady!

I think, the attorneys have to schedule a conference call with the seller and ask the seller if they're okay with giving access to the property to the appraiser and give you a 7-day extension. The listing agent has no right to decide on the sellers' behalf unless they signed a specific form that she is required to provide upon your request.

It is normal these days to change banks before appraisal due to high interest rates. Buyers are shopping and chasing the best terms possible. 

Also, I agree, the buyers agent could pick up the key from the office if the seller is ok with that. The agent is a NY licensed specialist, so it should be a safe action.

Ask your attorney to push for a conference call with the sleers' attorney and the seller. 

Hope it works out for you and the sellers as well!

Hi Bryce, I just sent you a PM

I would suggest to keep the one you currently have in Orlando, refinance and buy in Miami Beach for diversification purposes, but if there are financial issues with HOA, lenders won't be able to refi. Talk to a few lenders first, and see if the current property is financeable or refinanceable. Happy to share our lender contacts with you.

Miami Beach is a great long-term rental market now with so many people moved to Miami in the past few years and growing. Definitely a lot of appreciation is coming our way.

Hi Jasmin,

A lot of NYC investors sold their assets in NY due to after-pandemic issues with non-paying tenants. They moved their cash to landlord-friendly markets such as Florida, although they still live in NY.

You can manage the property remotely without having to be there every time an issue arises. You just have to have the right team to work with that has good records and work ethics. 

Hi David, welcome to the MF investments world! We're seeing good deals these days and sellers are willing to negotiate more than in the past 24 months (due to higher rates, off season, smaller pool of buyers).

In case of MF investments, it's numbers only anyway so in this case you want your team of professionals to analyze as many deals as possible and present the best options to you and possibly send some off market deals.

The property type to go after depends on down payment amount, area and potentail cash flow. Sometimes it is better to buy a SFH in Broward than a duplex in Miami-Dade in terms of returns, insurance, cash flow etc. Or reverse. It's all numbers game.

It is always a good idea to connect with an investor-friendly team in the very beginning of the process so they can navigate it and help you make the right decision.

Hi Daniel,

1. Long-term hold for appreciation. Yes! As you might know already, a lot of big corporations and wealthiest people of the US have moved to Miami area in the past 2 years as well as families who follow better lifestyle for their children's future and themselves. make sure you buy a somehow unique product (for ex; water view, flexible layout, high ceilings, building amenities etc). 

2. Maximize cashflow via STR (hoping to get 7-8% net). I think 7-8% is an average cap rate for Miami investors to expect at 40% down even if you end up renting the unit as a long-term rental. So you should be good.