All Forum Posts by: Louis Porter Jr.

Nick Rutkowski I would LOVE to get any type of multifamily deal, but I have not to be able to even get close to one. They don't even last one day before they are snatched up here in South Florida AND in Tallahassee, where I buy. The last one I saw was in Tallahassee (https://www.zillow.com/homes/2347-Keith-St-Tallahassee,-FL,-32310_rb/80784115_zpid/). Lots of cash deal in Florida that are doing well. 

Jacob Sampson The limit is more in the sense of my income to debt ratio but over what banks normally consider "safe".

A little background before I get into this: I have 4 SFHs; one I live in house hacking and three that are investment properties. With the purchase of my fourth SFH, I know I have reached the end of banks looking to give me money to do cash-out refi on any additional SFH or multi-families I might be interested in. So, I have reached this point and I am wondering, what is the next LOGICAL AND SAFE CHOICE to acquire more real estate? I purchased by last two properties with a HELOC and did a cash-out refi on both. I do have cash available to buy with the HELOC, but I think I need more "tools" in my "tool box" to purchase more properties. I have only been house hacking and investing since October 2019, so I am moving in the right direction but I also know what I don't know. Any help and/or suggestions are greatly appreciated.

My son. My wife died five years ago due to brain cancer. After that happened, I knew with just my salary we could not make it alone. I had to do something to help us. Real estate made the most sense and is a lot more fun then I thought. 

@Maurice Blackledge Congratulations!

@Jermaine Chad Ingram I am Looking for any place I can get a good deal to turn into a rental.

I want to reach out to any Broward Country local investor and/or lawyer who is currently or has invested in/buying directly from tax deed auction. While I am terrified with the whole process, I am very interested in learning how to and eventually purchasing tax deed properties. I have been investing in single family homes in Florida for the last two years and have acquired four properties with typical deals of all cash or conventional 20% down deals. But the idea of tax deed auctions seems to be very different and foreign to me. I am interested in educating myself in the process from beginning to end, but I know how valuable time is, so maybe I could develop a system and relationship where we could make this a win-win for both of us. I would also be open to doing a partnership on deals with the right mentor, if it makes business sense. Please feel free to reach out not me here to discuss it in further detail. Thanks again!

So I went by TD Bank this weekend and I was informed from the mortgage department that there was no waiting period to do a cash-out refinance on a property that you own. Just letting people know about this. Hope this helps!

Looks like you are doing amazing work. It looks like you are going to get to a million dollars a lot soon than you thought.

Thanks for the info. Delayed Financing is probably a no go due tot he purchase price. The Cash out refi is most likely what I am going to have to do. I would prefer to NOT wait 6 to 12 months (I have more properties I want to buy with that money). But to get the amount I would like I will need to get the ARV to about $105K.