All Forum Posts by: Jay Helms

Are the traditional lenders local/regional banks or one of the big guys (I.e. Bank of America)?

Elizabeth - if you haven't done so, I highly recommend taking a look at this article http://www.biggerpockets.com/renewsblog/2014/09/28...  AND plugging the #s into the rental calculator: http://www.biggerpockets.com/buy-and-hold-calculat...

Great way to look at how good a deal truly is. Best of luck. 

Boom.  Thanks for sharing!

“Staying the course” only makes sense if you’re headed in a sensible direction. Because passion and persistence – while most often associated with success – are also essential ingredients of futility. Don’t Follow Your Passion, But Always Bring it With You. - Mike Rowe

What webinar is tonight? I can't seem to find a registration link. 

Hello BP'ers! I'm interested in a property that is being marketed on the MLS as a duplex, but doing my own research, the county records have it labeled as a SFR.

Questions:

• If I purchase the property, what's involved in getting it legally qualified as a MF?
• With tenants already in place (and will be there through the purchase), what problems does this pose in getting the property qualified as a MF?
• Has anyone ran across this situation and made the process of making the property MF a part of the sellers responsibility as part of the negations (good / bad)?

If it varies by city / county, this is in Pensacola, FL and any local knowledge/experience is certainly appreciated. 

No. HOA for this neighborhood doesn't exist.

I'm under contract for a 1 / 1, <600 sq ft SFR foreclosure in downtown Pensacola, Florida ( ARV = $50k). Being my first foreclosure purchase, I've contacted my typical insurance providers for quotes. The quotes range from $1500-3500 annually. More than I pay for 3 / 3.5 townhouse in a flood zone...? I have provided the 4-point & wind mitigation reports from my home inspection on this foreclosure to the prospective insurance carriers - both in good standing.

You guys who purchase foreclosures for the purpose of hold & rent, who do you use for landlord / property insurance?

Thanks in advance,

Jay Helms

 What is a voucher tenant Tracey? I haven't heard that term before.  Thanks in advance. 

When doing a FSBO in Florida, does a realtor have to be involved to use the FARBAR as-is? What I'm asking is... I'm looking at a property the owner doesn't have it listed with a realtor and this is one where I would purchase "and/or assign". I'd like to use the FARBAR as-is but since I'm not a realtor, is it legal for me to do so?

What's available on the file place is a 2010 version. Quick link: http://www.biggerpockets.com/files/user/CIProperti...