All Forum Posts by: Ryan Karel

Hey would love to join this group. 

Ryan Karel 

[email protected] 

954 8151379 

Question for everyone. I am looking for a great Software for property information, loan/lien, per-foreclosure/ foreclosure and skip tracing (basically trying to dig deep and find best deals for flipping). I came across the site Prop Stream and signed up for the 7 day free trial. So far it seems to be somewhat descent ( but will find out more as I use it). Just wondering, does anyone have any other recommendations of similar software that they found to be useful.

I purchase a property that is held in a irrevocable trust. We did a 1031 exchange purching this property. Soon this trust will be closing. My question is this, will I be hit with the capital gains upon the transfer of the property. Or will the assessed value become the new base value upon transfer. 

I'm gearing up to do my first real estate flip. I have lined up a private equity partner who is willing to put down half the purchase price and cosign for the other half that needs to be financed. I figure with his help we should have no problem obtaining a loan for 50 % plus construction costs. 

I have been looking into portfolio lenders but was wondering if maybe there was a better loan option for this situation. Or if anyone have any good recommendations for a portfolio lenders In florida. 

thanks

I own a LTR condo in florida. I manage the property myself. The HOA uses First Service as a way to collect dues each month but they are in no capacity the property managers. I will say they make it easy to pay your HOA fees each month.

I'm looking to purchase a 2-3 family house in my next purchase. (Probably in about a year). My question is about financing. This will be my last traditional mortgage I will be able to get for now. Do traditional lenders take into account the potential rents when qualifying you for the loan amount ?

I received a notice of cancelation from my insurance company. The letter states that my insurance company was placed in receivership by the courts and the court has ordered the liquidation of the insurance company. 

I paid the policy in full about 3 months ago. Been trying to contact them with little luck. 

Has this happened to any one before? 

I used the CE school. It was all online. If I remember correctly it was only like $100. Passed the CADRE exam on the first time. It was a good course I would recommend it.

I would just paint the lowers gery and the uppers white. Two tone cabs are popular right now. For the backslash I would go with a nice glass tile. It will really enhance the look. For the counter top depends What type of investment property is it. 

Investment Info:

Condo buy & hold investment.

Purchase price: $158,000
Cash invested: $30,000

Just purchased a condo in the treasure cost of Florida.

What made you interested in investing in this type of deal?

This deal was a reo foreclosure with lots of work needed and lots of room for some sweet forced appreciation

How did you add value to the deal?

I am going to renovate the property including new floors, appliances, 2 new baths, and kitchen makeover.

What was the outcome?

Just purchased it yesterday now my real work starts tomorrow

Lessons learned? Challenges?

This was my first foreclosure i purchased. A reo foreclosure purchase takes a lot longer then from a traditional seller