All Forum Posts by: Peter S.

I had the same issues with a sixplex I bought. Seller did all his accounting on an old yellow pad. Have the seller get a current estoppel agreement from every tenant, even if you have a lease in hand. Have it dated and signed by the seller and tenant. Make sure you have the agreement state that the amount on the agreement supersedes any other amount listed in the lease or any other document.  Then get that amount deducted off the sales price. This eliminates any issues later on down the road.    

Don't overlook Miami-Ft.Lauderdale-Palm Beach which did a combined bid. Three major airports, two large seaports and the gateway to Latin America. Tons of housing, no state income tax and three research universities within 50 miles. Bezos graduated high school in Miami, so he knows the area well. And as far as attracting top talent, show me a recent grad who won't take 70 degree winters and a low cost of living. 

The politicians here in Miami are all psyched about getting them and if there are any politicians that can get a deal done, its the slimy politicians in Miami. Ha  

Tread lightly. Tons of new condos coming online in the brickell area. Just like the biscayne blvd area a few years ago. And when the bubble bursted, it was a bloodbath.

Its an unsecured personal loan, you can use it any way you desire. Down payment on a new property, rehab costs, payoff of higher APR loans, etc. Similar to Lending Club, Prosper or the other online lenders, but their terms and rates are better. As the post above stated, its essentially a hard money loan but without underwriting, closing costs, ridiculous fees, etc.

I used it too. Got 50k in about a week. I should have asked for more.

9.9 APR No points, no fees, no hassle. I'll definitely use again.

hi alejandro and welcome. Thanks for the lender reccomendations.  If you could pm me the contacts you had at those banks, i would really appreciate it.  

why not lay down a sod lawn? Then you have a lawn in a day and it will settle in after about a week or so. 

I would imagine seeding a lawn in the middle of winter would be difficult. 

Paying off a mortgage at 3.4 percent is like investing your money at 3.4 percent. In todays market, thats a pretty horrible return. In addition to that horrible return, you lose all liquidity unless you sell or refinance. Just about any mutual fund can give you better returns than that. 

LandlordMax is what i use. Has every feature you could need. Cost is a bit steep at 199 bucks, but its only a one time charge.

The property is a cash flow monster if you refinance. Plain and simple. 100k value refi to 75 percent ltv puts 15k in your pocket. Then you are looking at a cap rate of between 9.5 and 11.5. Then 18% cash over cash and 22% roi. 

If you eliminate PM, you have a cap rate of 11, cash over cash of 25% and 29% roi. 580 cash flow.

Its a no brainer.