All Forum Posts by: Shamika Beckley
Shamika Beckley has started 2 posts and replied 16 times.
Post: 1 doors to 9 in less than a year
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
what about the commercial loan process did you find easier than a SFH loan process?
Post: Looking for a full kitchen remodel in Hollywood, FL
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
Thank you!
Post: Looking for a full kitchen remodel in Hollywood, FL
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
I am a BP pro member and have tried more than five times to find a contractor for my mother for her full kitchen remodel in Hollywood, FL using the "find the contractor" tool. But to no avail...
If you know anyone in the area that can assist, please let me know. Thank you!!
Post: Bought my first home in the middle of the depths of Covid
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
Quote from @Kerry Baird:
@Shamika Beckley, great job taking action. Hubby and I were both AD and we had a SSgt who told us to buy a house at every base, and we listened, but that meant buying near Mildenhall as we were stationed in England for 16 years. Our final duty station was also Patrick. That said, there are a couple of investor meetup groups in the local area. PM me for more information.
awesome! will do!
Post: Bought my first home in the middle of the depths of Covid
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
Quote from @Andrew Freed:
@Shamika Beckley - For FHA, you can go as low as 3.5%. For conventional owner occupied, I normally see 5-10% from local credit unions and banks. If this is an investment property, you normally need to bring the normal 20-25%.
In regards to the HELOC, yes I use it for the downpayment and work to pay it off quickly. You can only create a HELOC from a owner occupied property. They have RELOCs (rental line of credit) but those tend to offer a lower LTV than HELOCS. That is why, when I am living at my primary, I open up a HELOC before I leave so I always have access to that line of credit.
@Andrew Freed, I heard that FHA's are for people whose credit is not that great and that they shouldn't be used in the long term. Is this the sentiment you are getting? And okay, I'm seeing your distinguishment between FHA versus conventional loans. Why is it important to pay off the HELOC quickly? and in what time frame do you recommend?
Post: Local Meet Ups in Tampa Bay
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
Quote from @Kiuny Perez:
Quote from @Shamika Beckley:
Quote from @Kiuny Perez:
Hello everyone,
I wanted to ask if there was any Local Meet ups in the Tampa FL area. I searched and saw a couple older posts, but I was hoping for a more updated list.
Thank you!
Not sure of Tampa specifically, but the app "meet up" has regularly scheduled REI meetups in Orlando, since that's closest to me, so I think you can search your city on there and see if you can go that route.
Thank you! I’ll download it, I actually work in Orlando currently
Post: Local Meet Ups in Tampa Bay
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
Quote from @Kiuny Perez:
Hello everyone,
I wanted to ask if there was any Local Meet ups in the Tampa FL area. I searched and saw a couple older posts, but I was hoping for a more updated list.
Thank you!
Not sure of Tampa specifically, but the app "meet up" has regularly scheduled REI meetups in Orlando, since that's closest to me, so I think you can search your city on there and see if you can go that route.
Post: Bought my first home in the middle of the depths of Covid
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
Quote from @Walter C.:
Congrats!! Fortunate favors the bold. When others are fearful, our ability to take calculated risks creates great opportunity.
On to the next one!!
Hello Walter! Absolutely! That mindset has not let me down so far. Really eager for my second property as well as the journey as I learn along the way! Thank you!
Post: How to find investor friendly real estate agent
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
Quote from @Albert Velasquez:
Quote from@Eliott Elias:
Find the ugliest home on the market and call that listing agent.
What do you say when you call. How do you negotiate?
I’ve seen a few places on YouTube that give you step by step instructions on what to say and also have scripts offered. Just YouTube “how to negotiate off market deals or how to cold call for off market deals or distressed property”
Post: Bought my first home in the middle of the depths of Covid
- New to Real Estate
- Melbourne, FL
- Posts 21
- Votes 8
Quote from @Andrew Freed:
@Shamika Beckley - Did they sign a year lease or month to month? If they signed a year lease, you have to wait until the lease expires before you can raise rents. If they are month to month, you are allowed to raise rents between 30 to 60 days depending on your state. Yes, if fair market rents are $2-2,200 per month, I would definitely raise rents. At the current difference, you're barely cash flowing if at all.
In addition, I do have a good rental increase letter. Feel free to DM me your email and I'll send it your way.
I had them sign a year lease, so that’s up in on 25 June which means I can send the notice on 25 April. And yes, after listening and learning, I’m like wow, I need to bump this up! I’ll send you my email now. Thank you, Andrew!