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All Forum Posts by: Joseph Chiofalo

Joseph Chiofalo has started 0 posts and replied 293 times.

Post: First STR in North Georgia – Any Tips?

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

Hi Cherie, 

Welcome to the community- 

There are many resources and professionals here on bigger pockets to learn and grow your business. 

Best of luck on your new journey!

JC

Post: Seeking Guidance on Financing and Structuring a Family Property Investment

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

Hi Raul, 

How long have your parents been on title to the property?  

Have they been making payments direct to the loan servicing company for the mortgage? 

There may be a few ways to go about structuring this deal. 

Feel free to reach out to discuss more. 

Thank you 

Post: Buying your second house

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

Hi Raul, 

Welcome to the community-  There are many resources and professionals here on bigger pockets to learn and grow your business. 

Best of luck!

JC

Post: Help with two dwellings HELOC

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

Hi Anthony, 

How much of a line of credit do you need?  

Is for for a primary home or investment property?

JC

Post: Determined to Learn, Even When It Feels Out of Reach

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

HI Priscilla, 

Welcome to the community- 

There are a lot of professionals and resources here on bigger pockets to learn and grow your business. 

Best of luck with your journey!

JC

Post: Novice in real estate

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

Hi Benjie, 

Welcome to the community- 

There are a lot of professionals and resources here on bigger pockets to learn and grow your business. 

Best of luck!

JC

Post: Hello BiggerPockets Community,

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

Hi Glady's 

Welcome to the community- 

There are many resources and professional here on bigger pockets to learn and network.  

Best of luck!

JC

Post: Should rental property be bought in buyer own name OR in an LLC ?

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

Hi Dhirendra, 

I've had clients purchase both in personal name and in an LLC. Majority of my investor buyers do purchase property in their LLC. LLC's could provide liability protection. Your personal assets are shielded from property-related lawsuits or claims.

Post: Home owners insurance

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

Hi Kim, 

Insurance in Florida has got expensive over the past few years.  

My group and I work with buyers in Florida and every deal is different for coverage costs.

Many factors are considered such as location & proximity to coastline, construction type and materials, roof type, age / condition, home age and condition, home value and rebuilding cost. 

Citizens insurance is often a last-resort option but tends to be more expensive due to fewer underwriting restrictions. 

JC

Post: Interested in multi family real estate

Joseph Chiofalo
Posted
  • Banker
  • Melville, NY
  • Posts 305
  • Votes 70

Hi Ajit, 

Welcome to the bigger pockets community- 

There are many resources and professionals here on the platform to learn.  

Best of luck!

JC