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How is the market down there in Florida?
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Very good...It's pretty crazy actually. Just bought a small hotel on the gulf of mexico that will bring a nice profit. The market here in ocala has gone up a ton. I wish i was not so young and could have bought property a few years ago around here because it is going through the roof. -
That is a great investment. I bought an apartment building just north of me, I held the for 10 months and sold it for a 80k profit. Can't do that now though.
I am up here in Maine and the property values are starting to plateau, but they went up an average of 8-12% a year during the refi boom. With the rates going up the property values will be going down quickly.
I do some business with Floridians buying second homes up here.
Great business huh?Last edited by ItsBillBelichick; 11-17-2005, 11:00 PM.Comment
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It great! Lots of money to be made...Ocala is really booming. My uncle was here last year and we went and looked at a house near my neighborood, big ass house it was sweet only 300k! My uncle almost shit himself because he lives in ft. lauderdale and his house costs more money and was no where near as nice. Anyway we went and looked at the same house about a month ago and they are asking 650k!! He felt like such an idiot. Just an example...But here is the property we have it is in Hudson FL http://www.docksideapartel.com/ We plan on knocking it down and building townhomes.Originally posted by ItsBillBelichickLast edited by JBC13; 11-17-2005, 11:05 PM.Comment
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The is not working. I am sure he was not happy. I don't invest in any property myself that was the first and only. I was not sure exactly how it was going to work out. It is kind of like gambling you never know what the market is going to be doing. Plus I had two tenants move out and it became more work than I expected plus it was an hour drive from where I live.
Are you a broker?Comment
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Originally posted by JBC13
You can't go wrong with that investment. Your on season is coming up I wish you a great season.Comment
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Investing in property can be risky and is exactly like gambling but the rewards can be great.Originally posted by ItsBillBelichick
Yes, i just started in May though. I like doing it i still have alot to learn. Alot of money to be made being a broker as well and i work for a very good company. I am enjoying it so far but like i said still learning.Comment
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There are so many different products I can't keep up with them all myself. You missed the BIG refi market JBC. None the less you have chosen a very rewarding career. No bettter reward than helping a family buy thier first house.
Who do you use mainly for your A paper? Or BC?Comment
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Hate to break in here guys but just wanted to say hello to my buddy itsbill ... Hope things are going well pal ...Comment
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It really does feel good and i am enjoying it so far....Im sitting here trying to figure out what you mean by A paper or BC but cant.Originally posted by ItsBillBelichickComment
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Originally posted by SPARK
Your welcome any time Spark. I was thinking about you today in fact. I was reading some old emails from last year with the pictures of you and your dog. Good to see you again.
Life is fantastic here! All good over there?Comment
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Great to hear that buddy ... e-mails ok now???Comment
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Originally posted by JBC13
There are two different types of loans.
A paper is what Fanny Mae and Freddie Mac accepts.(all full doc laons with good credit)
BC investors do not sell to Fanny/Freddie and it is a borrower that cannot prove thier income, have challenges with credit.
Does this help?Comment
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Originally posted by SPARK
The emails are coming in just fine. In fact I am going to send you an email now to give you my personal acccount. So I don't confuse emails like you hahahaha jk.
Check your mailComment
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