All Forum Posts by: Ken Badziak

Thanks for the response, Martin!

So two years later any updates on using Investorpro? Are you still with that platform, or have you switched to something different? Thanks!

Although I don't have an answer to your specific problem, it's been my understanding that USAA is TERRIBLE for mortgages. Everything else? Pretty much superb. But the military aviation community pretty much has nothing but negative things to say about working with USAA IRT mortgages. I myself am a 17 year member, and have zero plans to use them for my VA loan. I'm going through a local lender, and so far it's been pleasurable. Apparently not all VA loans are created equal.

thanks guys. Learn something new every day!

(His loan is already 3.something%; dunno if he'll be able to find a lower rate. But now I know!)

Ok, so here's the situation. While flying a transcon from Baaaaahston to Sin City, I found myself having a discussion with the other cockpit monkey about his house, which he owns down in the Ft Meyers area. He bought about two years ago with very little down, triggering a PMI payment.

Between regular mortgage payments and subsequent appreciation (mostly appreciation, as it sits on the water, on a canal) there is now substantially more than 20% equity in the house.

The issuing bank is telling him that regardless of the equity in the house, he has to carry the PMI for a minimum of five years before he can get rid of it.

Is this correct? First I've ever heard of this.

Thanks!

Originally posted by @Franklin Romine:

@David Avetisyan  Yes unlimited access.  Try it out it is really a good product.

Frank

 Looks spiffy! Now I just need to find something similar I can use in Florida!

Originally posted by @Harry Asnien:

Not to mention the beaches and pace of life in northern Uruguay is amazing...think beaches, camp fire, gauchos, surfing, and steak and wine daily.

I'm heading to Belize in a week for vacation,

excited to get a better feel on the ground.

The steaks in that part of the world are to die for. Some of my favorite memories of Argentina involve the steaks, bottle(s) of Malbec and tango music around the Ricoletta area...

As for Belize, you'll have this to look forward to...

You might want to take a look as transferring your money into a self directed IRA. You can use the funds that way to find your transactions, without taking the withdrawal penalty. There are some stipulations involved, but take a look at the iPlan Group or another similar source. They have the answers to the questions you seek. https://www.iplangroup.com/asset-types/real-estate-investing/

Originally posted by @Michael Oliphant:

Just an opinion from down here in Uruguay but it's a buyer's market. I just sold a property to an investor for $400,000 on the Punta del Este side of Lomo de Punta Ballena. 2,000 sqm of land, 370 sqm built. Clear ocean view from every room. Gotta redo some floors, update the bathrooms and you've got a million dollar property in a few years.

 Just curious, can one get a mortgage down in Uruguay? I also live in Brasil, and the mortgage industry is in its infancy. Most people never heard of it!

Or as a gringo do you need to bring all cash to the table?

Originally posted by @Dominic Jones:

Originally posted by @Ken Badziak:

That being said, the Argentine government and economy is in full-blown collapse mode, so you might be able to find some amazing deals... I remember reading a story about one investor who got his start when he purchased a 200+ room hotel in Buenos Aires for a song when the economy last collapsed.. that was about ten years ago.

Chile has the strongest economy in all of South America, and Montevideo has the highest quality of life of any South American city... 

 Wow! Great information again. I'm wondering if you use any online news sites for this information or if you're just knowledgeable about the area since you've invested in Belize for the past 10 years.

I'm curious to know what sort of investments you have down there in Belize. Do you own apartments, Flip SFHs, what?

Thanks for the information. 

 I'm just knowledgable in the area. To be clear, I don't personally own any RE in Belize; my folks do. They live in Amergris Caye, north of San Pedro town by about 3 miles. I'm not sure how well a flipping strategy would work on the island; it's more of a buy and hold/ development place. The biggest issue being having a great team, not just good, on the ground unless you plan to be there full time. 

Ever hear of "island time"? Belizians take it to a whole new level.

I can get you in touch with my mom if you'd like. She knows the place very very well and would gladly help you out (she even has a small BnB where you can rent out a room), but I think you'll find that Belize is a lot like aviation.

It's easy to make a million dollars there; just start with $10m!