All Forum Posts by: Benjamin Pekarek

Gaurav,

If you have a clear paper chain throw the balance over to collections. I recommend HF Holdings in Orlando. 

Either hire a management company, or self manage and have your maintenance guy hold keys for showings. All he does is open the door, and you don't pay him for opening the door!

Not a lawyer! 15 days to impose claim, BUT! since she broke lease, she owes rent until you re-lease - erego, 15 days after re-lease is when you send the documents, or 15 days after expiration, whichever comes first. THEN, since you're in Florida, submit her to HF Holdings for collections.

1. You need to get your money, and

2. Don't let someone else get screwed like you did!

Greater Miami will ALWAYS have property to buy! The biggest factor will be your risk tolerance. Personally, I buy for cash flow - I don't buy anything smaller than duplexes. With an SFR, you're either 100% occupied, or 100% vacant. There's no wiggle room. Period. With MFs, duplex, tri, or quad, there's a 50/50, 33/33/33, or 25/25/25/25 chance that you can pay your monthly bills. As your rents increase (either from making repairs, or market fluctuations), your value goes up. BUT, you can STILL cover your monthly expenses if you plan it right.

Good luck!

Dustin, 

Be very careful how you proceed - what you're offering could be construed as agency in the state of Florida. If you don't have a real estate license, that can earn you a felony conviction for unlicensed practice of real estate.

-Ben

Welcome Andrew! 

As a property manager, I've run across what I'm sure are your brother's LLCs (who else would use Varney Downtown Holdings, LLC) when I mail out my advertisements.

From the addresses listed under the various LLCs, and under Dr. Varney personally (our family doctor since 2014), you're in excellent hands as you start to invest here on the Suncoast.

Best of luck!

Douglas, 

We're based in Sarasota, and personally do not invest here. Excellent school system, restaurants, culture, but the city has priced the working class out of the rents. 

I like the location as a "base", as you can get to Tampa/St. Pete in 45-60 minutes, Punta Gorda/Ft. Myers in 45-60 minutes, Orlando in 2 hours, Miami in 4.

Depending on where you want to live, when I was at FSU, there were some fabulously priced condos on W. Pensacola (W side of Stadium). I know it's not a house hack, but the numbers just didn't make sense for me to buy at a 5-6% CAP. I can recommend an excellent investment realtor in Tallytown that I'm still in contact with.

Hoping you survive your four years in Talla-nasty!

-Ben

Call Mike Price with Freedom Mortgage, (google him, we're not allowed to post contact info), and look into "gift of equity". Best of luck!

Sarasota based property manager here, unless you're getting a 3-4% mortgage, Sarasota just doesn't work. If you're buying in Sarasota, you're buying for appreciation, and you'll be at breakeven, or a few dollars extra - Sarasota just doesn't cashflow. I personally invest in Polk, Hillsborough, and Pinellas counties, and live in Sarasota county (I'm off of Vamo Rd.) 

Best of luck!