All Forum Posts by: Kevin Alfonseca

How may I go about finding out if a property I may be interested in has a clean title or any liens on it? I live in Miami, FL and that's where I'm looking at to start investing. Surrounding areas as well.

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Originally posted by @Evan Polaski:

@Kevin Alfonseca, as noted I would avoid the auction route. Your 30-40k goes a lot further if you can find, say a $100k house that required 20k rehab. 20k down + 80k loan, potential to finance part of the renovation too, but you still have $20k (assuming $40k available) to renovate. Even this is tight, but will get you a higher quality property.

And remember, real estate is not without risk. Typically the fastest way to lose money is real estate is to not have enough money going into a deal. So as noted, if you have 30-40k now, and you use all of it to buy a place. What is your plan when the water heater needs replaced 2 months after buying a place and no tenant has moved in yet? The point being, you need reserves the day you buy a property, because things come up all the time.

No Of course Evan I fully understand that part. We do have more in reserve for anything that may come up but that's what we're comfortable in using at the moment. I only brought up the auction route because seeing multiple properties go for 20-30-40K, whether house or apartment/condo, thought it be a better way to start. I also wouldn't mind going the hard money route for a fix and flip or maybe get an FHA/FHA 203K Loan for a multi-family property.

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Thank you guys for this information. You've been a ton of help

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Originally posted by @Danielle Jackson:

@Devin James is right. Most foreclosure auctions require cash purchases.

Yeah we have 30-40K cash between us which is why we were looking at the auction route. I've been on the county's website and seen plenty condos/apartments go around that price range as well as some houses.

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Hello everyone,

My name is Kevin and I currently reside in the South Florida Miami area. My cousin & I just started our company and we're looking to get into real estate investing. I've studied and read books for a couple years but never took any steps towards making this a reality till now. We are looking to go the Foreclosure/Auction route for our 1st property as a fix and flip. We have a 30-40K and have seen various houses/apartments/condos go for that price range in the county's auctions. Now before we take on a full dive into that, I would like to ask some of you guys what are your opinions on that? Should we go that route? If we go the conventional loan or hard money route to purchase a property that way, will it be more beneficial? Looking to meet or just have conversations with anyone experienced in investing and real estate. I've studied so much, just looking to have someone connect the dots for me.

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All Forum Posts by: Kevin Alfonseca

Kevin Alfonseca has started 2 posts and replied 5 times.

Post: How to find title/lien information on a property

Post: Just got into investing. LLC filed and everything

Post: Just got into investing. LLC filed and everything

Post: Just got into investing. LLC filed and everything

Post: Just got into investing. LLC filed and everything