All Forum Posts by: Mitchell L.

Awesome and big congrats! Great way to get started in the REI world.

Good Luck!

Get your future broker to submit the offer on your behalf and work something out with him...Who is the seller?

It's a liability.. It puts no money into your pocket each month

@Mark K

I personally invest in condos in Broward and work with a few clients who do as well and it's very difficult to weed out the no rental restrictions buildings on your own without the MLS or a investor-friendly agent. You need a realtor by your side who understands this well and does this himself or works with a large # of investors. On most REO's, the info in the MLS is not accurate on rental restrictions so one has to start researching all of the past sales and get a general consensus on what the restrictions are. Also, you can look in public records by detailing your search by subdivision or community name. If there is a larger % of entity owners, I'm pretty confident it is investor friendly. You can also search on Sunbiz for the condo association, look up who is on the board and see what those board members own in the community. If they none live there, it is also most likely investor-friendly. I've gotten some amazing deals down here because of how lazy some agents are in inputting accurate rental restrictions and HOA amounts in the MLS.

Going to any REIA meeting is beneficial but they won't teach you this there.

Good Luck!

Most likely denied because it is frame. If your HML is local, maybe he knows something about the subdivision that you should be made aware of? If it was a screamin deal, I'm sure he would of done it, even if frame.

Have you looked at the auction sites, auction.com, homesearch.com, hubzu.com, genesisauctions.com & hudson and marshall?

This is over dramatized IMO... 84 Degrees is nothing for a dog... Tell them to buy a fan and the dog will figure it out and sleep by the fan.. I'm sure the dog is smarter than the tenant..

 I personally would NOT... Market is hot, on my personal rentals, I typically get on average 5-7 offers before selecting 1.. If you don't feel they are a home run and they are not by any means, pass on them... You can simply state, credit is way below your minimum requirement PLUS all their BK, etc...

I would only take them if they gave me a minimum of 4-5 months up front. Otherwise, a definite NO.... it's a hot rental market everywhere so you will find someone fast if priced right and property is in decent shape.

I would definately buy it... For a small price, you have a peace of mind.. I think it's a no brainer for a buy and hold investor especially.