All Forum Posts by: Ray Hage

I am always up front that I am the owner with my 5 properties but I can see why others don't do that. You can always make it seem less personal "The owner says he wants to do this so I have to do ______". If you're more comfortable saying you're owner, just say it.

If you are still looking, I have a great guy based down there as well. He renovated a property for me in Dania Beach last year and is currently doing my friend's house in Fort Lauderdale.

If you are still looking, I have a great guy based down there as well. He renovated a property for me in Dania Beach last year and is currently doing my friend's house in Fort Lauderdale.

Well if you really want to do it right, you should speak to a local PM or lawyer who has done it before. You do need to follow the process perfectly and specific to your city and county. Usually, you should be able to find the steps on a local gov website. I have only done one eviction with a tenant that I inherited and he basically stalled out till the sheriff came to remove him so just be prepared for that if it goes down all the way to end. 

Another option is cash for keys but I have never done this but others on this forum have and can probably advise further.

 Most people don't keep good books anyway. You need to assume the worst case scenarion on things and go from there. Things they should be able to provide you would be a bank statements, leases, utility bills and if they had any major work done. If they won't provide you that, just assume very high on everything and lower your buying price. It does seem pretty shady though so it might just be worth passing on it anyway. Make sure it's worth the potential headache if you go through with it.

Hi Federico, it won't matter if it is owned by a person or LLC. Assuming it is a residential property, it will be roughly 3.64% per year of the actual house/condo/townhouse/etc value (not land)

Hi Yesenia, how are you? I am an investor here in Fort Lauderdale....also a realtor and lender! Welcome to Miami in advance. I'd be interested in meeting fellow investors as well. 

Congrats on continual success! I am also an investor and realtor in FTL. Welcome to BP!

Demand is pretty high still but slower than before. The really question: what is the demand for that type of place within that neighborhood? You could see what similar rents are for a 4/2,4/3 and gauge it from there. It is not an exact science but you should be able to in the right range

Hi Mary, you wouldn't need to worry about that if it occurs within the same calendar year. People do it all the time actually.