All Forum Posts by: Jonathan Azoulai

Purchasing 18 unit building in FL, 1.2M . Hard money lender wants to securitize this with 50% stock of owning LLC rather than just with property... is this normal?

Did a rehab on a 1946 Duplex in Miami. The inside had mostly been cleaned. Sort of Lipstick on a Pig.  Outside had old crank windows, bars, tree stump in yard, weeds everywhere. A carpet in the front yard.... for real... a carpet.  Needless to say it needed some work. Initial quote from a trusted contractor for impact windows (their were eight good windows, 4 large ones, 2 medium and 2 small.  Total installed cost quoted at 4762.00 however when we went to put them in the termites had already done their work and wood framing all around the windows and down the ground had to be replaced on all of them.  With permits the total cost of this job was just under 11,000.00  Shortly after this feces and toilet water started backing up into both units. Turns out the old cast iron pipe had rusted through completely, this meant tearing up concrete walkway in front of house to exchange for a PVC pipe and to install cleanouts.  This was around 3400.   Property is cash flowing well now as we have it as an airbnb. Cash on Cash about 16% which is unheard of in Dade. This is after the mgmt company takes their 18% plus cleaning fees.  

Good Luck.

Live in the City of Miami. 

Looking at a legal Quadplex being used as a 7-plex.  Zoned for Duplex.

2 Structures. Legal units are in the main Structure

Secondary Structure used to be a 2 - story garage now being used as 3 units.  

The structures are legal. The accessory units are not.  

Can I legalize these?

What's Brewing Miami - REI Meet Up ****LAST TUESDAY OF EVERY MONTH****

What it is - This is a group of local South Florida Real Estate Investors who get together once a month to talk real estate. Bounce ideas and deals off of each other.

Who is welcome - Agents, Investors, Bankers, Hard Money Lenders, Wholesalers, Management Company Owners, Attorneys and anyone who is interested in REI.

Best Case - Meet other like-minded individuals and learn about Real Estates Investing issues specific to South Florida. Talk about real estate! Perhaps find a deal or a partner.

Worst Case - Have Great Beer in Miami!

Thanks for posting Gabe. Hope to see everyone there!

What's Brewing Miami - REI Meet Up ****LAST TUESDAY OF EVERY MONTH****

What it is - This is a group of local South Florida Real Estate Investors who get together once a month to talk real estate. Bounce ideas and deals off of each other.

Who is welcome - Agents, Investors, Bankers, Hard Money Lenders, Wholesalers, Management Company Owners, Attorneys and anyone who is interested in REI.

Best Case - Meet other like-minded individuals and learn about Real Estates Investing issues specific to South Florida. Talk about real estate! Perhaps find a deal or a partner.

Worst Case - Have Great Beer in Miami!

Looking forward to seeing everyone tomorrow ! Looks like a big turnout. 

We would love to you see you there. Always a good time and learning a ton with each get together still.

What's Brewing Miami - REI Meet Up               ****LAST TUESDAY OF EVERY MONTH****

Who is welcome - Agents, Investors, Bankers, Hard Money Lenders, Wholesalers, Management Company Owners, Attorneys and anyone who is interested in REI.

Best Case - Meet other like-minded individuals and learn about Real Estates Investing issues specific to South Florida. Talk about real estate! Perhaps find a deal or a partner.

Worst Case - Have Great Beer in Miami!

This is really a great showing! I can't wait to meet everyone!