All Forum Posts by: Nathan Olds

I am looking for recommendations for a local CPA in Broward county or Palm Beach county who specializes in rental properties. I will be purchasing my first property soon (house hacking) and hope to purchase a 2nd before the end of the year and am looking for advice and guidance to make sure i properly set up everything correctly. 

Looking for recommendations for a good reasonably priced professional for a home inspection. 

@Lance Lvovsky

@Jason Perez

Thank you for responding! I have sent you each a PM.

Hello. Does anyone have any recommendations for an attorney in the Fort Lauderdale area who specializes in real estate? I will be buying my first multifamily property to house hack and plan to continue to buy more multifamily rental properties in the future. 

The property will likely be in Pompano Beach, Fort Lauderdale, or Delray Beach. Any recommendations would be greatly appreciated!!

Hello. I am looking to buy my first property in the next few months. I want to house hack a multifamily (3-4 units) but living in 1 and renting out the others and financing through an FHA loan. I live in For Lauderdale so the property will be in South Florida (Pompano Beach, Deerfield, Hollywood, Coral Springs). Properties here are expensive so i would like to only put 3.5% down.

However most of the major financial institutions tell me that their internal policy for multifamily home loans is 25% down or 20% down regardless of credit history or loan type (my credit history is excellent and i have no debt). Does anyone have any recommendations on lenders in south Florida for this strategy? 

Any help would be greatly appreciated!

I am OK with any price range that cash flows. Most of the properties i have seen were upper $300k so a good deal would probably need to be under $300k, but that would be really hard to find posted on the MLS, i would imagine though. I only just started analyzing properties so I am no expert yet. =P

@Tchaka Owen Awesome! Thank you so much for your help. I appreciate it. My lease (i am currently renting) ends in mid June so that is my hard deadline and motivation for buying a multiunit property to "house hack".  I will send you a PM about the insurance agent recommendation. =) 

Hey BP. I new to real estate and looking to invest in my first rental property in the coming months in South Florida. It will likely be a triplex in Pompano Beach or a nearby area with similar expenses. I have started analyzing deals but am unsure how accurate my assumptions are of the expenses. Below is what i am generally using. Any feedback on any of these would be greatly appreciated! =)

Closing costs: $3000

Electricity: $120/unit

Insurance: $300/mo

Water/Sewer: $30/unit

Garbage: $15/unit

Maintenance: 5% 

Vacancy: 5%

Cap Ex: 7%

Property management: 11%

Property Tax: 1.5%

@Maya Patterson you can also check out the Network - Events page on BP for local events posted there. THere is an event listed there for tonight 6:00 pm in coral springs that I will be attending for the first time. 

Coral Springs Real Estate Network
2501 coral springs Drive Coral Springs, Florida 33065.

@Jon Huber That coffee meetup sounds great. I plan to attend the next one, Feb 8. Is this event on BP or another media? I didn't see any future events in the BP event forums.