All Forum Posts by: John Karg

The above was taken from Redfin data center: https://www.redfin.com/news/data-center/

Have you guys used this tool? It has some pretty cool data that you can drill down to the city/county level. It shows Miami and most of Florida still leading the country in price growth!  

Yes HELOCs are available on investment properties, with up to 70% LTV. Feel free to reach out with any questions!

John

Hi Glen, 

Insurance costs have gone up a lot in the past few years, but it is stabilizing due to new legislation. The state's insurer Citizens has limits on rate increases and is more flexible with requirements. I don't think it's a reason to not invest in the state--every area has it's challenges. 

John 

Hi Olu, 

I haven't used it personally, but it looks like potentially a good option. If you're running a short term rental, you might consider using a manager that will take care of cleaning as well as bookings etc. 

John

Hi Klesta, 

Welcome to the forums! A HELOC, HELOAN or cash out refinance would all allow you to take out equity of your existing properties. Right now with interest rates trending down, many are choosing the HELOC as the rate is variable. They generally go up to 70% LTV for investment properties and 90% LTV for owner occupied. Feel free to reach out with any questions!

John

Hi Vinicius, 

Welcome! Sounds like you have a great background to be very successful in this industry. Feel free to reach out with any loan related questions! 

John

I haven't heard of this, but I'm not sure if it would necessarily help the situation. Properties show a lot better when they are empty, and the buyer's realtor can take care of opening curtains and turning on the lights. If you're not getting offers, it almost always has to do with price (and secondarily photos, listing description, and the responsiveness of your realtor). 

John

Hi Jeter, 

I also started by getting my real estate license. I was then able to represent myself buying properties and credit the buyer's agent commission to my closing costs. It's a very underrated thing to do!

John

The term for hard money can generally be 6-24 months, and sometimes extensions are available. Payments are usually interest-only during the term period, with rates right now around 11-13% depending on experience.   

Hi Maria, 

Books and online resources are great, but they only go so far and in my opinion nothing beats real experience. If you're not in a financial position to purchase yet, getting your real estate license can be a great way to get hands on experience without owning anything yourself--you can handle purchase and sale transactions for family and friends and will meet a lot of experiences realtors, property managers etc just from having your license. Feel free to reach out if you have any questions! 

John