All Forum Posts by: Josh Green

Hi! Im a first time buyer, interested in closing on a multifamily in FL market particularly 1. Orlando 2. Tampa 3. Jacksonville. Strategy: buy and hold.

Florida for lower taxes, sunshine and close proximity to hospitals (travel nurses), universities, parks/attractions and bonus the Caribbean and South America is right in it's backyard. Orlando is a top choice for proximity to Disney /amusement parks, hospitals, growing tech market, inland protection from hurricanes.

I am looking for a house hack investment deal around 700k with short-midterm potential. Willing to do light fixer upper work that doesn't require structural work. Home preference is No less than 4 bdr 2 bath and preferably some land and 40 mins- 1 hr tops from a city, close to hospital and/or university - potential target market.

Questions 

Any investors have stories of what it's like in recent days out there? 

Any recommended contacts or tips to build a team out there? 

Is the insurance situation that bad with the reforms proposed? 

Besides swamp land any other gotchas to be careful of? 

Any guidance appreciated, total newbie here. Thanks so much!

Hey 

I’m almost finishing remodeling 

3/2 house -1200sqft home 

zip code 33610

I wanted to ask if it’s worth to rent long  term for $2400 month 
Or
Rent as short term rental ? It’s 15min from downtown but , not close to the beach 

plus another questions

What cities are good for Airbnb ?
im interested in Clearwater , St.Pete , all pinelles county , but I know it has some restrictions , could you explain me what is those restrictions , what is good areas for Airbnb in general .

Thank you 

Hey All,

A family friend of mine has instilled the fear of Tampa as a whole being a poor long term investment due to Sea Level Rise (SLR). It seems without a significant investment into preventative measures Tampa and the surrounding area will lose much of its value amongst other things. 

While I bought my first property in Riverview this time last year I’m now hesitant to even continue analyzing properties. Simply looking to get others thoughts on the matter. 

Thanks to all!

My brother and I own a duplex in South Florida with both sides currently rented out. We currently owe about $15K on the property and Redfin estimates the value at roughly $650k.

So we have a good amount of equity we'd like to get out and use for another investment purchase.

I've historically been able to get HELOCs for single-family investment properties, but it's been difficult finding a bank that offers HELOCs or cash-out refinances on multi-unit investments.

Does anybody know of a bank that would offer either option for us? Thank you.

what questions to ask? Thanks in advance!

Hi all! My name is Alexis and this is my first post on the BP forum. I own a vacation rental in Cape Coral and have since 2016, so it has quite a bit of equity in it. 

Some numbers on it;

Bought for $175k in 2016, have $109k left on the loan. It’s now worth $375k (haven’t had it appraised yet but this is the low end of my estimate). Current interest rate 4.125%.

I want to buy a second home in/near Bradenton or surrounding areas north of Bradenton. I plan to use it as a primary and house hack it for a couple years until moving out of state, renting it, and then buying another property. My husband and I are travel nurses, so we plan to bounce around every year or so. The price ranges down here are $375k+, otherwise you’re in a C/D class property, and we are just not willing to live in a bad area like that for 2 years. 

The question, should I cash out refinance the Cape Coral home in order to fund a down payment on the potential second home in Bradenton?
I don’t want a mortgage payment to be nearly $3k a month on the new property, which is what it would be if I put less than 20% down. 

But my concern is, if I cash out refinance the Cape Coral home, would it raise that monthly mortgage significantly? Therefore canceling out my goal of keeping both mortgages lower?

Thanks in advance for the advice. I’m also asking my lender these questions, but wanted other opinions :)

Hi all! My name is Alexis and this is my first post on the BP forum. I own a vacation rental in Cape Coral and have since 2016, so it has quite a bit of equity in it. 

Some numbers on it;

Bought for $175k in 2016, have $109k left on the loan. It’s now worth $375k (haven’t had it appraised yet but this is the low end of my estimate). Current interest rate 4.125%.

I want to buy a second home in/near Bradenton or surrounding areas north of Bradenton. I plan to use it as a primary and house hack it for a couple years until moving out of state, renting it, and then buying another property. My husband and I are travel nurses, so we plan to bounce around every year or so. The price ranges down here are $375k+, otherwise you’re in a C/D class property, and we are just not willing to live in a bad area like that for 2 years. 

The question, should I cash out refinance the Cape Coral home in order to fund a down payment on the potential second home in Bradenton?
I don’t want a mortgage payment to be nearly $3k a month on the new property, which is what it would be if I put less than 20% down. 

But my concern is, if I cash out refinance the Cape Coral home, would it raise that monthly mortgage significantly? Therefore canceling out my goal of keeping both mortgages lower?

Thanks in advance for the advice. I’m also asking my lender these questions, but wanted other opinions :)