All Forum Posts by: Keren Adaki

Hi there!  I see you were interested in the marco island naples area.  Did you end up investing there?  I am very interested in the area as well.  would love to hear any experiences/advice.  

@Joe Villeneuve

Thank you, joe. That was incredibly helpful.

I think it’s a win win situation. Keep this house for rental and take cash out. The 150 won’t cover the entire down payment but it will cover 80 percent of the down payment.

@Joe Villeneuve

Thank you Joe! I appreciate your detailed response. I will try to figure out the taxes (didn’t know they were subject to change if it became a rental). With that being said, the numbers make sense and I can prob get >1k of passive income monthly. Rents for a comparable house are around 3600-4200. My current taxes and mortgage is 2500. My current interest rate is 3.6 and considering doing a cash out refinance, taking 100-150k of equity out and converting this to a rental. I spoke to jovia bank today. They offered me a refi for 2.75 for 30yrs w the cash out. My payment (mortgage and taxes) will be around the same as I pay now. Any advice? Should I do that, take money out for a down payment on a bigger house (desperately need) and keep this as a rental?

@Mark Miles

Thank you for your response! 100k annually after all things are paid for? I would love to hear about this more? Any personal experiences in those markets? Down south? Any particular market better you would recommend?

@Chauncy Gray

Interested in this concept.

I am a psychologist who is interested in real estate. Have you found any info regarding governmental loans incentives in group homes?

Hi everyone!

I am a mother or 3 children under 6 and am driven and determined to make it through real estate.

I currently own a small 3 bedroom ranch w a finished basement on Long Island, NY (own for 7yrs). The home is lovely but too small for us at this point. ideally I would love to buy a bigger home for us but keep this small ranch in the family and rent out. The only problem is that from speaking to ppl I am told that NY rental rules are not in favor of landlord. According to my calculations, I can make 1k of passive income renting this ranch out after all expenses are paid for.

My question is should I take the risk of being a landlord in NY? Or should I sell and use proceeds to invest close but out of state, like in PA or Connecticut buy purchasing a duplex or something that can generate passive income?

Many real estate investors from NY advice me to own my residence in NY but not rental income. Any advice? Need to secure my children’s future!!!! Thank you in advance.

@Mark Miles

Thank you everyone. Helps to hear advice from more experienced ppl.

What does STR stand for?

@Luke Carl

Hi Luke. Thank you for your advice.

Are you familiar w Marco island? Why are you assuming it won’t perform??? Many apartments generate 40k being rented 21 weeks out of the year.

Hi everyone!

Would really love sound advice. My spouse and I own our home and we would like to buy a second home/vacation home on Marco island. Searching for units facing water located in buildings that allow rentals to offset the cost. We are off in summer and would use the property July and August and rent it otherwise.

So here's my question. Properties on Marco island Florida are not cheap! I don't have the 20% down so I am debating whether to wait another year and save for the 20%, or should we use a jumbo loan and only put 10% down and get a place now??? If I only put 10%, the interest rate will be close to 4% rather than close to 3% (w 20% down). Also I will have to pay PMI POINTS. Do I act now or wait???

Thank you so much!!!

Hello out there,

I am a mother of 3 young children and I am consumed with wanting to secure a good financial future for them. We currently own our home and have some equity in it. We are still drowning in ny daycare costs (over 3k/monthly) which is more then my mortgage. I nevertheless have managed to save some cash and in the next two years want to make a move in real estate. We definitely need a bigger house as we had no children when we purchased our current home (small ranch). My question is this, should I keep my current home and keep it as a rental property? Should I get a heloc loan for the down payment of our bigger home? Or should I wait to save more money so I don’t have to use a heloc? Pros and cons on heloc would be very appreciated. Also thinking of buying a vacation home in Florida and renting it out. With 3 kids my risk tolerance is low but high at once. Don’t want to make a financial mistake as my kids depend on me but also understand that not making a move is riskier. Any advice on starting out would really be appreciated.