All Forum Posts by: Benjamin Pekarek

John,

All our income listings are drive by only until accepted offer. Have never had an issue getting them sold - simply show the rent roll, and the photographs online. LoopNet is sometimes a better tool than the MLS for these kinds of listings.

-Ben

@Michelle Moss,

I just showed a client a 3/2/1, 1,100 sq. ft. in north Sarasota for $76,100 with $25,000 in repairs needed. Rent will be $1,250/mo. Assuming all cash sale, the gross income will be $15,000 per year. 

Expenses (assuming my management fee structure of 5%/5% (five or more homes under management to qualify)) will be $750 for the yearly leasing fee, $750 for yearly management (paid monthly as $62.50), estimated taxes of $1,340/yr. and estimated insurance of $1,500/yr. for a total expense of $4,340. 

Net income will be $10,660/yr, or $888.34. That's a 10.5% COC ROI on a full cash deal (assuming we're right at budget: will be higher or lower once we finish the rehab) - now throw financing in there and look at the power of leverage!

I get these deals in my office constantly. PM me if you'd like to have a look at some potential moneymakers.

-Ben

Mike, 

Find a good property manager, find a good lender, and go on your merry way and collect your monthly check! End of story!!

-Ben

Lisa, 

@Charlie Fitzgerald just got my refi done in 10 days - 10% interest only for 48 months.

-Ben

Mike, 

I think this would be something right up @Charlie Fitzgerald's alley! 

-Ben

Hello Nick! 

Shoot me a PM, and let's schedule some time for a coffee. I run a brokerage that predominately functions as a property management firm. Let's talk. 

-Ben

Hello @Stefanie Perron!

I'm the broker of RNR Realty & Management. We work almost exclusively with investors. We only do sales for fix & flip/buy & hold investors, and manage predominately for volume buy & hold investors throughout Florida. Shoot me a PM if you'd like to sit down and have a coffee sometime. 

-Ben

I agree with @Janie G. stated, it's rare to be sued in real estate, but would you rather have everything set up for nothing, or have it in your own name, and LOSE everything?

-Ben

I like Ft. Myer's, Polk county, and Tampa/St. Pete.

PM me, or call me if you'd like to discuss.

Christian,

Congratulations on trying a flip while you still have your 9-5! What you're trying isn't easy, but it is the most financially secure way of transitioning into full time REI.

Have you found all of your contractors at this point? If you haven't, try using something like Thumbtack.com to find well reviewed contractors to get the work done. It's better to pay a few dollars extra for quality work, and have a good product that sells QUICKLY than for a marginal product that sits there vacant.

Have you already picked your listing agent? The person that helped you purchase the property is not always the person you want to pick to sell it! Ask whoever you're thinking of using what their ADOM (Average Days On Market) currently looks like. If it's high, shop around until you find an agent who can move your house.

Good luck on your first deal! Put the systems in place on this one, to make the next one that much easier.

-Ben