All Forum Posts by: Kristin Kiddy

If you are purchasing with a reputable realtor, a title company should be all you need.  I would consult an attorney on any for sale by owner transactions.

Hello everyone.  Since a few of us are interested in a local meet up I posted a new discussion where we can plan one.  Here is a link:

https://www.biggerpockets.com/forums/552/topics/54...

Looking forward to meeting everybody...

@Kurt Jones  Great!  I will post a new Meet up discussion and we can all make a plan.

You know guys... With so many local investors responding to this post, maybe we should do a BiggerPockets Meet Up here in Daytona.  What do you think?

@Erik Kuhi I agree with you.  I think @Steve McRory 's take on the Daytona Area is too harsh.  Also, Daytona is a lot more than just the down town beach side (which I admit pretty much sucks).  However, go a little north and you get into some much better areas such as Ormond Beach and even Holly Hill has some quainter, quieter streets.  Go a little south and you get Port Orange.  Both of these areas have some of the top rated Volusia county schools (better than Deland, Deltona, and Debary which are all really hot investment areas).  As for crime, yes there are definitely some areas of Daytona I think twice about driving through at night.  But if you go onto Crime Mappers and compare what's going in Daytona to Jacksonville... OMG  Jacksonville makes Daytona look like Our Town.  And look at how popular Jacksonville is for investors right now.  I work in Daytona and I've been seeing the development that has been going on over the last few years, between the race track, Margaritaville, and the outlet mall, as well as a ton of building going on west of 95, I wouldn't give  up on the Daytona Area.  I know I haven't.

Thanks everyone.  You've given me a lot to think about.  We have experience with mixing money, business, and friendship with this family and have learned a lot in the past.  Thanks @Aaron K..  I am adamant about having everything in writing and using a local English speaking lawyer.  @Bob B. we though about going the loan route and we may still decide that is best, but I would rather have some ownership in the property instead of just a note.  Better jobs and second jobs are actually not that simple to get there (too hard to explain in this post but would be happy to give details later).  

Hi everyone.  I need as much advice and input I can get about buying property in Mexico.  Background:  My husband and I lived in Manzanillo, Mexico for 2 years and we are very close with a family there.  We go back and visit often.  Manzanillo is a booming port city with lots of growth, construction, and jobs.  Our friends bought a house a few years ago.  It is only 3 years old and in a nice part of town.  The problem is the husband lost his job and his new job doesn't pay as much.  They owe aprox. 35,000 usd to the bank on the mortgage of their house (they have about 1/3 equity in it).  They will loose the house and most of their equity if something is not done very soon.

My husband and I want to pay off the bank loan and, using a lawyer there, set up an agreement where we would own 2/3 of the house with the friends owning 1/3.  The friends would pay us 2/3 of the market rent rate to live in the house now. (Expenses would be divided)  In the future if either party wants to sell the house, then profits would be divided 1/3... 2/3 accordingly.  If one party wants to buy out the other party, it would be either 1/3 or 2/3 going market rate at the time.  

The house has already appreciated 5% annually in value in the last 3 years and with all the economic activity, I'm confident it will continue to appreciate (barring a catastrophe).  With them paying us rent, we will see a decent (just not stellar) return on our money.

What I need is all the ins and outs of buying in Mexico.  I know for example that foreigners cannot own property within 100 km of the coast so you have to own it in a trust.  I don't know the other snags that only someone who has done it before can divulge.  

If ANYONE has any experience with purchasing property in Mexico.  PLEASE POST!

Thanks.

Hi everyone.  I am a new"ish" landlord and I need window treatment advice.  In my previous property I installed blinds/shades in all the windows.  It was a wood frame house with normal sized windows so I could install the cut to size blinds from Lowes/Homedepot and being wood, I could patch any holes very easily.  

Now I have a new property here in Florida and it is a concrete block house with some big windows in the living room.  I am NOT going to buy custom blinds for this house so my two options are 1. install three standard sized blinds in the window to fill the window space OR 2. install a long heavy duty curtain rod and either put up some neutral (cheap) curtains or allow the renter to put up their own curtains.  The walls are block and very difficult to install anything property so I don't want the renters trying to put up anything themselves.  I would love your opinions and expertise on this one...  Thanks!

We live on the east coast near Daytona Beach.  My husband also works from home.  I recommend Palm Coast, which is north of me and about 1 hour south of Jacksonville.  It's a bedroom community, near the beach, and has a ton of duplex neighborhoods that are nice.  Two things to be careful with though. 1.  Prices may be a little high (but with so much competition I bet you can find a deal).  2. Rents are a little lower in this area (so make sure you are researching the rental market for this area specifically).  Good Luck!

Thanks everyone.  Great Advice!  Thanks Gagan P. I didn't think about that option.  I'll need to decide if I want to take on that kind of project/headache/risk.