All Forum Posts by: Ray Hage

 my exact thought. I think the best answer is $25....unless the tenant is absolutely amazing, then maybe zero. No one is going to move over a $25 increase unless they were planning to move already.

great meet up. looking forward to Wednesday

 Some people respond to positive consequences and some don't. This guy only learns the hard way and that's fine. It is a little more money for you despite a little bit of a headache.

 Welcome to BP. I am an investor and realtor here in Fort Laud. Let's connect

Hi @Danilo Perea, these forums are some of the best places to look for agents that specialize in investments. I am both an agent and investor so I know the south FL market quite well. There are still some investments out there but not a ton of great ones to be honest. I'll pm you to see what your friends may specifically be looking for. 

@Philip Choi You may be better talking to an accountant but generally whenever you pay out of pocket is when you're going to deduct the repairs and treatments. If you haven't spent any money yet, then don't deduct until you do your 2025 taxes.

@Drew Slew Well if you're planning to build on it, flooding issue shouldn't be too bad when you put the structures up as you'll need to comply with regulations of it being a certain number of feet above the current ground (I can't remember the exact amount of feet). 

Regarding insurance, I can refer you to a lady that I use. Flood insurance specifically won't be that different by provider as it is federally regulated.

Frankly, I would keep the land and units if you build. That area is only going up in the long term. 

@Tom Stern You're in a tough spot, I would lean towards selling if you have condos. It's a tough time to be a seller or owner so you might have to sell at a loss if you bought in the last couple of years. Condos are risky now. Personally, as an investor, I never was comfortable with condos because there is too many things that can go wrong with the HOA people. It is a dangerous game without a lot of upside imo

You would think summer season would be dead here (because it's just gross with humidity, hurricanes and heavy rains), but it's actually pretty busy just about the same as winter. The only really dead time is Nov-Dec. Sep and Oct are somewhat slow as well. We have had way too many people moving here from all over the world (sidenote: it has turned into the playground for the rich and upper middle class of the world) in recent years and they are still coming

Unfortunately these are common stories. I just spoke with a lender who is also an investor and trying to get rid of his condos. Unfortunately, people are going to lose their butts on condos unless they got them crazy cheap many years ago.

I own a TH with a HOA but so far have been unaffected....though I am wondering do I keep holding or sell? I feel it is a gamble either way