Home Buying in Miami>Question Details

Ibrahim, Home Buyer in Outside U.S.

i want to buy a home

Asked by Ibrahim, Outside U.S. Mon Jun 25, 2012

i want to buy a single family home!with 3 beds and 2 baths!!!my budget is $100000

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Stephen McRory’s answer

Ask grandfather for a family loan. Offer grandfather a note at 8%, more than he's getting in CDs so he can justify it as teaching you the value of money. Then, pay him back each payment extra and early! After 18 payments refi while rates are still low.


if he won't finance home, will he gift you 5% Down?

Contact me above
0 votes Thank Flag Link Mon Jun 25, 2012
I am not moving there.i want a house to spend holidays and i usally go there for some office work!
0 votes Thank Flag Link Fri Aug 24, 2012
You need to increase your target price to at least 150k for multiple reasons
0 votes Thank Flag Link Sun Jul 1, 2012
Hi Ibrahim,
You can still find some good deals for that budget.
Let me know if you would like me to send you some listings for you to view.
I am sure you are aware that in Florida, you do not pay the agent a commission if you are buying or renting.

Sophie Bamps
Real Estate Agent
Cell: 305-206-8867
Fax: 305-443-2226
0 votes Thank Flag Link Sat Jun 30, 2012
Hi Ibrahim,
I have a house 4/2 in North Miami Beach for 89,5K Cash only , over 1550 sqft, needs some work about 10-15K, call me at 305-968-7955 Abraham Chavez or e-mail jech_usa@hotmail.com
0 votes Thank Flag Link Fri Jun 29, 2012
Hello Ibrahim,
It is very difficult to get a house for that price unless you are looking to buy on Homestead. You can used the $100,000 as a down payment. The first thing you need to do is to contact a lender of your choice. You can also get a loan with a private lender if you have a low credit score.
The buyers that are getting the better deals are very active; and they have a good Realtor. Prices are on the rise for now. Give me call and I will help you all the way.
Good Luck in your House Hunting!
Marco Torres
Miami Premier Realty
0 votes Thank Flag Link Fri Jun 29, 2012
Why do realtor's steer people away from areas they want to live. You know there are a bunch of foreclosures in Kendall and West Kendall. They're are still whole subdivisions that have been stopped construction half way through and sitting dormant. Please don't red line people.!
Flag Fri Jun 29, 2012

I have a 3/1 in Miami Gardens. Is this an area that you would like? Call me any time
0 votes Thank Flag Link Mon Jun 25, 2012
Ibrahim, that's a pretty small budget to buy a home in Miami. If you're looking at an investment, you may be able to buy a place down by Homestead for that amount, and fix it up and rent it.
0 votes Thank Flag Link Mon Jun 25, 2012
Please don't red line people!
Flag Fri Jun 29, 2012
Congrats on choosing to become a home owner. For many this can be a very high anxiety process. Anxiety is the product of feeling one has no control. and sustained uncertainty.

To address that very issue, I've just completed my nearly 30 page Florida Home Buyers Guide.
You will be taken from evaluting priorities, to finances all the way to the closing table. When you understand the process, know who is fullfilling what role and what YOU should be doing, the process becomes less intimidationg. Ask for your digital copy.

The most effective and efficeint use of your time in the home search process is to use the most reliable, accurate, relevant and timely resources available. That would be the Multiple Listing Service. Gain access to the local MLS through one of the agents responding to your questions who services the area in which you have interest. Using aggregate websites to find a home is an exercise in futility. The good stuff will be gone BEFORE it appears on aggregate websites.

Give a local agent a call...if you are serious.
No, don't click that 'contact' button.
No, don't use those email links.
Call, if you are serious.

Best of success to you.
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4041 -
0 votes Thank Flag Link Mon Jun 25, 2012
First talk to a mortgage broker or your bank to see exactly how much it will cost you. If you are paying cash, find a REal Estate Professional in the area you would like to buy. If you are looking in the South West Florida, I would love to be the one to help you.
Good Luck!
Genevieve Ramachandran
0 votes Thank Flag Link Mon Jun 25, 2012
Hi Ibrahim,

Suzanne has directed you to the first esseential step you have to do. Talk to a competent local officer, unless you are paying cash, before you start house hunting. This will give you an idea of how much is your estimated monthly payment based on the types of residential home that fits your needs.

Moreover, the loan officer can advise on different options available to you.

0 votes Thank Flag Link Mon Jun 25, 2012
Unless you plan to pay cash your first step should be to talk to a good mortgage banker. I recommend a smaller local firm that specializes in writing mortgages rather than one of the big banks. Make sure you qualify for financing and then find yourself a good realtor to work with. Typically the seller pays the real estate commission so the realtors' services will be free to you.
0 votes Thank Flag Link Mon Jun 25, 2012
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