All Forum Posts by: Ken Naim

@Brian Garrett I'm right here in Palm Beach County with you. Finishing up a rehab of a single condo, and a commercial warehouse, and within the next few months will be ready for my next deal. Still looking for opportunities though.

@Nick Johnson you can get 10+ mortgages on SFHs in your situation but it'll likely need to be with a portfolio lender or a relationship lender and a slightly higher rate due to the credit issues. Might also need to be personally guaranteed and cross collatorilized.

With the funds and situation you're in 5+, ie commercial, is the way to go. Less locations to manage, less focus on the borrower and more on the NOI of the property, more potential cashflow and valueadd, fewer mortgages, economies of scale etc.

Also consider other commercial properties like office, retail, storage, industrial etc.

@Anna Neal You're right, best way to learn is by doing. I'm in palm beach county. Happy to connect with you.

@Qiong The point of the cash out refi is to pull your initial investment out after the 6 month seasoning and value add. Yes it is more expensive, yes the LTV are lower but the point is the value is higher. If you bought something for 100k cash and rehab for 40k and the appraised value is 200k, a 70% ltv cashout refi will net you 140k, so your investment is 0.

With 20% down you'll be in for 60k (20k down payment plus 40k rehab). If you want to take out your investment you still have to do a cashout refi and you rnd up at the same place ratewise but with higher initial costs for the original mortgage, with a lower cash outlay of course.

As with everything it depends on your plan. If you are planning on only buying one then a conventional first os cheaper. If you are planning on building a portfolio either will work, just have to run the numbets through your scenarios.

@Philip Rothaus Welcome to Florida. I'm from Lake Worth in PBC and am real estate investor who mostly does commercial deals with the occasional residential one. I'm happy to connect with you.

@Jon Huber I'm interested in the meetup as well. Please send over the details.

I'm rehabbing a beach front condo here in Fort Lauderdale for sale. It is on the higher end and am looking for a stainless steel kitchen appliance set (French door fridge, dishwasher, range, over the range microwave) and having trouble finding a complete set that is available or will be soon. Most places I've checked are stating 30-60 days with no guarantee that it'll be in stock. I found a black stainless set that is in stock at the local store but I'm not sure if that will appeal to buyers. The condo has polished gray with white porcelain tile and white polished cabinets and an overall modern theme

Have you guys seen this issue with appliance availability? What have you been doing? What do you think about blank stainless appliances?

Thank you.

@Sam Spade Either way will work. Refinance is probably cheapest long term but you need to figure it out using actual numbers. Heloc's use variable rates and will go up over time.

The investment property would only have a first mortgage either way as the Heloc would be on the NY property.

I have a friend sellong a nice fully renovated 2/2 apartment in Lake Mary for $159k. if your interested i can connect you.

@Misael Carlos Vera Motivation naturally waxes and wanes over time so let it build good habits for you which will pull you through the unmotivated times.

@Jim K. 48+20 =68 + 7 = 75

@Felix Andrei best to talk to a local lawyer that specializes in evictions rather than a management company