All Forum Posts by: Carlos Julio

@Lucas Taylor

The way I do it is response time to tenant should be same day, this means communication with tenant, understanding the issue .

Next, I have a list of vendors typically 3 or 4 per category, I have 24/7 vendors that can help me on weekends , this is not always perfect but it works well

If issue will take few days , I communicate with tenant on every step to keep them involved

If you create a ticket system, whenever way you want (apartments. Com, excel, or any other software) it's good to keep history on it for legal purposes and to show future reference to tenant on how you address issues

Finally if you are already there, next step I'm working now it's five start review or validation after repair. This is epic for tenant to stay with you in the long run, which increases probability of low vacancies

Hope it helps

@Jordan B.

As many others mention below , try to go to local banks and credit unions , I closed on my first heloc beginning of the year to be ready for my next property.

My learnings

- appraisal value is typically less of what you think, this guy's are very conservative and their Comps are the lowest . Be conservative on the heloc amount you are expecting

-closing cost are included in the heloc as debt from day one; not sure if this apply for all the loans same way but I'm paying the interest of the closing cost and have this debt upfront 4% of total heloc amount

-not all the locals and credit union give you heloc on investment properties, they rather your primary home; I got my heloc on my primary and I was looking for another heloc on my other investment home and it was hard to find but found a bank. Keep looking, don'tstop

-my market is swfl and south florida that's why if I shut you the banks you won't find it in your market

Hope this help

It's really easy no big deal , you just need to take action

Hey Adam, 

I'm based in cape coral north Area and manage my properties myself.  Agree with previous comments that markets hasn't change too much before and after hurricane. 

specifically in North Cape coral I'm following the market closely on the type of sfh I owe (3/2) and $ per sqft has dropped between 1-3% but I don't think will go down since new construction still is very active in the area and latest listing are above avg $/sqft .

if you need anything DM , happy to help

let's stay in touch 

Carlos

Quote from @Pretty Khare:

Quote from @Carlos Julio:

Quote from @Evan Burgess:

Quote from @Rong Tan:

Quote from @Bernard Joseph S.:

I'm waiting on a seawall permit which was filed last month. Once that's done the fun should begin as my building permit has already been approved. I see most of you are with Delta. I'm contracted with Blacktip, so far so good. Anyone using Beattie or any of the other builders?

Im w beattie. 

Rong, how has your experience been? We just got an escalation this week from Beattie (been in permitting since…late 2022) and timelines seems to be pushed out a fair bit so we are actually considering moving to Blacktip.

Hey guys I'm investor in the cape area , yeah permits it's a thing here in cape , I haven't done new builds like that but hear you have to go through and once it's done well you'll have your benefits. DM if you want me send you pics of your properties I know how that feels . 

Carlos - what are your thoughts on rental growth and appreciation in Cape Coral. Looks like appreciation has stagnated in the last one year but at least the prices are not going down unlike markets such as Austin or Phoenix. Also, I see a lot of rental listings on Zillow that are decreasing their ask price. Has the inflow of new families to Cape Coral slowed down putting pressure on rental growth and appreciation? Thanks 

 By living in the mistakes market this last 2.5 yrs I can tell:

- appreciation has stagnated as expected , after appreciation of 25-40% , is expected a slow down with appreciation in the 3-8% at least in zones and criteria I check monthly 

- rental listing started to show up as expected as well. We came heros a market that rentals were very few to now a decent balance, I'm currently renting one , let's see how many days do I take to rent as reference . Avg Dom should be less than 20 days

- if you look at development in certain areas of cape , there are a good a mount of multi-family coming in . This will influence the supply in the area but in some specific niche or criteria, that's why is important to review constantly the area 

-inflow of new families are not slowing down. As other markets out/in Florida are increasing in price , people are looking to relocate to sw market.  Foe example I constantly talk to people from miami area and it's attractive for them due to price diff. Hope it helps DM if you need more insight of the area

Quote from @Evan Burgess:

Quote from @Rong Tan:

Quote from @Bernard Joseph S.:

I'm waiting on a seawall permit which was filed last month. Once that's done the fun should begin as my building permit has already been approved. I see most of you are with Delta. I'm contracted with Blacktip, so far so good. Anyone using Beattie or any of the other builders?

Im w beattie. 

Rong, how has your experience been? We just got an escalation this week from Beattie (been in permitting since…late 2022) and timelines seems to be pushed out a fair bit so we are actually considering moving to Blacktip.

Hey guys I'm investor in the cape area , yeah permits it's a thing here in cape , I haven't done new builds like that but hear you have to go through and once it's done well you'll have your benefits. DM if you want me send you pics of your properties I know how that feels . 

What makes your property management unique, That makes them better than others?... we all know that getting a PM is not easy but Instead of telling bad stories about PM, it would be interesting to know the good stories :

1)what is the good thing your PM is doing ?

2)what type of technology your PM is doing that makes the difference for you?

3)in 5 years what PM should do different to makes them successful?

My idea with this post is that everyone share their stories and we can leverage our PM companies with success stories that others are doing and help them to improve 

@Jesse Villaneda. Hey Jesse , there is complete thread of this on Jan 29th . "It calls first time new construction: Cape Coral "