All Forum Posts by: Ben Owens

Is it true that those that qualify for FHA loans can get first pick before even cash purchasers on certain properties? I had thought I heard that on one of the podcasts, and was curious if that strategy may help some investors just getting started in a near saturated market? Obviously this would not work for everyone, but just as food for thought...

As new forum member myself, welcome to the party! There's so much to learn here, and a lot of good advice on how to access the info too. Be sure that when you read a good post or blog(which is pretty much all of them), try and comment on it, ask questions, put your 0.02 in, that shows the rest of the forum that you are attentive, participating, and willing to learn and process the experiences and knowledge being offered to you. 

I am in Ocala, Fl, a bit north of Orlando. While we have some distance between us, possibilities can arise when least expected. You will find yourself sooo drawn to jump in and start deals, but just make sure to cover your due diligence, map your strategy out, and cover your bases. On the same note, avoid decision paralysis, get your feet wet on something you can easily handle - mentally, physically, and fiscally, and things should go your way.

@Mark Nolan - Thanks for the good tip, there is so much information here to read, watch, listen and absorb. What a wealth of knowledge and experience. So many different approaches and niches, it is hard to keep on track at times. Like the podcasts, I want to hear them all from beginning to end in that order to get the feel of how things have grown, developed, evolved, and how our hosts have learned and prospered along the way. Buuuut... on my way scrolling through them, one of the many great titles may catch my eye and I end up out of order. Either way, amazing opportunities exist here. 

I am glad I came across this place thanks to @Account Closed posting good advice on a popular generic forum(not advertising it, but it was Q***a), and steering people away from some of the shysters that have accumulated over there. 

Keep up the good work everyone, and best wishes in all of your endeavors!

Seems like a good idea to follow through with getting her out, only looking at more issues from that tenant. Unfortunate situation, but as @Account Closed mentions, it is up to the tenant to have their own priorities in order. Regardless of the cashflow of the property, a set price was agreed upon by the tenant to pay for the responsibility of occupying the unit.

Being new to real estate, I had thought long term leases would be what you wanted, as then you have them contractually agreeing to reside there for that duration, which, if they are good tenants, then thumbs up. However, I suppose that makes it more difficult to evict them as well. Interesting approach that @Deanna McCormick takes with only using M2M leases. Great food for thought here.

Also, I like how @Ross Denman aims have maintenance and general upkeep/repair in smaller increments, before they become expensive problems. I think "land lords" get a bad wrap as the negative connotation from apartment slum-lords that practically wait till the building falls down around tenants before doing any repairs, or the red-neck trailer park trash image that comes to mind when mobile home parks are brought up. Sure, there could be legit reasons, but I do not think there are many good ones.

Hello all,

I am 27 years old, currently employed as a System Administrator at a medical facility in Ocala, Fl. I am looking to begin investing with a multifamily home(preferably 3-4 units) in the area using an FHA loan, or possibly a SFR that can be converted to a multifamily home using a 201k loan. Idea would be live there for a year, refinance, and use a new FHA to acquire another property, rinse repeat(hopefully?). Currently attempting to factor in all expenses including management and maintenance into calculations on deals and still have positive cash flow. I am looking to eventually meet up with active real estate members in the area. Once my feet are wet, I plan on possibly getting into house flipping on the side.

I will live in the Ocala, Florida area for at least another year and hope to maximize the time here, and being fairly centrally located in Florida, could have opportunities to invest in other locations around the state. End goal is expanding my portfolio and diversifying the types of property in different regions, in an attempt to secure my retirement and eventual financial freedom.

Any connections, associates, partners, friends to be made along the way are much welcomed, as are any advice, tips, tricks, pointers, etc. Feel free to get in contact with me, add me as a colleague, I am always interested in talking and discussing things, even if you are not in my area/region.

Check out my profile for more background info.

If you made it to the bottom of this post,

Thanks for reading, I hope to hear from you about your experiences and advice!

*Disclaimer* I am new to real estate investing, very interested in the idea of house hacking, and while I may sound overly optimistic, I am more and more understanding the risk associated with real estate, and will do my best to cover all points of due diligence before jumping in. This post is not meant to solicit, nor is it asking / requesting for a mentor, if you reach out to me it is because you have read my post / profile and would like to talk more with me.