All Forum Posts by: Brian Leon

Just break the lease. People like this don’t have the money to even step into a lawyers office. Don’t overthink it just write a letter she is in breach of the lease for lack of first months rent. If she takes this to court a judge won’t even waste his time considering she hasn’t even moved in yet. Case closed.

@Chris Laino an investment in a flood zone is clearly going to cost you more because you'll need flood insurance as mandated by the banks. However, I know lots of investors that can't really say not to do it because many of their best investments are indeed in flood zones. It's just important to include flood insurance in numbers and plan for those annual rate increases if it will be a rental. On top of that, look into the actual risk of the property vs. the blanket statement of being in a flood zone. For example, what is the history of floods? is the property actually elevated several feet above ground floor? 

That being said, understand that flood risk is there and a real possibility - as they all say - plan for the worse and hope for the best. 

To directly answer your question - I don't think it will impact a renter but another buyer may have the same thoughts you're having now. 

Hey Brett - I’m an out of state investor from Florida and just landed my first property in the outskirts of Houston. Happy to connect with you guys if interested.

There’s a lot of places you want to stay away from in South Florida. I also lived in Weston and now a bit more south. I would look into nicer areas of Delray or even look to going north towards lake worth. You have a huge multi family presence in the Hollywood area as well just have to choose wisely there...good luck!

Hi Everyone! I know everyone on the forums for he most part is baking in certain assumptions to their estimates such as repairs, capex, etc. to calculate their return on investment and expected cash flow. Is anyone going back to their deals after a few years to do a retrospective review of their investment to see what their actual returns and outflows are vs what you originally estimated? This is clearly specific facts and circumstances based but I’m curious to know whether based on historical returns you would have decided on a go vs. no go on a property when you were on the fence due to these variable assumptions such as repairs and capex and your historical experience is tipping toward a lower % than the assumptions being used when analyzing.

25% cash on cash return? Sounds too good to be true. But if these really are the numbers then from first glance it doesn’t sound like a bad deal. Your mortgage rate might be a tad low the way rates are but that’s nominal. Best of luck.

Hi Everyone! Are there any out of state investors out there who are specifically investing in the outskirts of Houston (e.g., woodlands, spring, magnolia etc.?) I’m a Floridian who has a SFR in this area and may be looking to do more but would love to network with anyone who’s in the same boat looking in the same area. Hope to hear from you guys!

@donald - 100% agree

I have out of state investments without property managers it’s called being strategic

Do your own property management and shave off those $353 you have especially if this is your first rental. You need to get your feet wet with the management side of things before so you can set your own expectations in the future. Just saved you $353 cash outflow monthly