All Forum Posts by: Ken Naim

@Cristopher Agosto Hi Christopher, I'm in Lake Worth and have been real estate investing since 1997. Currently working a beach front condo flip in Fort Lauderdale and my first commercial warehouse rehab/ rental.

@Senia E Cuevas Hi Senia, welcome. As others have said make sure you calculate your numbers well based on the current rent roll to make sure it is a good deal. If the rents are under market, figure out how much it'll cost you to get them to market, do they need work etc. Validate that the tenants are currently paying rent, rent and eviction moratoriums are the law in many areas currently.

Watch Peter Harris' videos on YouTube regarding apartment buying and due diligence. Creative financing might be worth considering. Ask the seller if he'd hold a note for part or all of it.

Dont forget to factor in your home equity line costs into your calculations.

If the numbers work with some reserves for vacancy and repairs, ho for it and make it work.

@Shulammite Ng Hi Shulammite, I've had rentals in Boca Raton, and Delray Beach in Palm Beach county, snd had rentals in the suburbs of Orlando. There are always opportunities, it just will require additional work to find them before someone else does. Prices are high right now due to the influx of northerners and gettung contractors to do work is harder as some are sidelined due to the virus and others are swamped due to increased demand, so renos and costing more and taking longer.

@Joel Owens Thank you

@Rick Martin Great review. Syndication is a good way to get into real estate investing for people who are targeting higher returns than a stock market index fund and are willing to live with the lack of liquidity and control associated with these deals.

@Ash Patel Hi Ash, I didn't pay on the purchase, just the sale and was asking if 10% was a joke or a thing. I like the cash idea.

Thanks

@Tiffani T. Hi Tiffany, it depends on several factors. If it was your primary residence for 2 of the last 5 years and your married and file jointly you could pay 0. If it is an investment property and you haven't lived in it forc2 of the last 5 years, you'll have to pay long term capital gains, most likely 15%, but could be 20% if your single or make more than 441k combined with the capital gain. There could also be deprecation recapture which can be taxed at 26%, which will depend on how much was depreciated since 2011.

@Logan Hartle I'd like to join as well

Thank you Cason. That's what I thought.

@Andrew Yen Congratulations on getting started. Take the first step and look at properties. Then analyze if any of them work for you. If they proceed onto offers and if accepted work hard to get each duck aligned in turn, financing, rehab, leasing, management etc. Don't be afraid of mistakes, they will happen. just fix them as best you can and move on. Forgive yourself, it is part of the learning process. Don't worry about anything but your immediate next step for the time being.