Home Buying in Miami>Question Details

Paola Hidalgo, Home Buyer in Miami, FL

I am looking for a home in the low 30s, is it possible to find a house at this price in a decent condition?

Asked by Paola Hidalgo, Miami, FL Mon Feb 4, 2013

I have a approval but due to my income I can't get a loan over that amount (also due to my debt to income ratio)

Please help

Help the community by answering this question:


To be absolutely honest I don't think so. For $30,000 we are talking about land value ONLY, ONLY in a few neighborhoods of Miami Dade County. There are condos in that range but again, ONLY in a limited number of areas and as previously discussed you will not be able to secure financing. You will need to talk to a mortgage professional to discuss other options that may be available to you.
5 votes Thank Flag Link Mon Feb 4, 2013
Dear Paola,

You can get a condo but you would have to pay cash, otherwise you will be wasting your time and facing a lot of frustration.
I have a lot of properties in different areas and would gladly help you.

Best Regards,
Meg Sahdala

Vivienda Miami Real Estate Group
E-mail: meg@viviendarealtors.com
Tel: 305.877.2880
Fax: 305.675.3976
2 votes Thank Flag Link Mon Feb 4, 2013
Yanoska, thats a very helpful question. I think ill pay off my car and other debts and then try again. I do agree with you there might be other options available but I rather just pay off some debts. I palan to have my car paid off by August. Ill try again at the time. Thank you very much.
1 vote Thank Flag Link Mon Feb 4, 2013
My pleasure!
Flag Mon Feb 4, 2013
Thanks a million, you are very helpful!
Flag Mon Feb 4, 2013
Glad I was able to provide with some assistance. We do get points on Trulia for being voted best answer, if you find that my answer, answered your question I would really appreciate your vote. Please feel free to contact me in the future. If you would like to get a second opinion on financing I can also recommend a few professionals.
Flag Mon Feb 4, 2013
Thanks everyone for your answer. Ania im fully aware of that =P im just asking a simple question
1 vote Thank Flag Link Mon Feb 4, 2013
Hi Ms. Hidalgo,

Very unlikely but possible to find a one bedroom condo or studio in some areas in Miami. If you'd like go to my website at http://www.MiamiSunRealEstate.com and begin searching there.

Alberto Baca
The Keyes Company
1 vote Thank Flag Link Mon Feb 4, 2013
Andre that sounds very hopeful. Thanks
0 votes Thank Flag Link Mon Feb 4, 2013
Hi Paola,

There are some possibilities specific to your situation being that you're akready approved. Give me a call and I'll go over a couple different scenarios with you that possibly could work.

Andre Shambley
0 votes Thank Flag Link Mon Feb 4, 2013
Dear Paola,

You can find a home in decent condition to rent for 30K annual rent.

You can also find a home in very good condition for 30K monthly rent.

Best of luck!

Ania Lenzholzer
0 votes Thank Flag Link Mon Feb 4, 2013
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