All Forum Posts by: Christopher Schmidt

@Sam Hadad I agree with @Engelo Rumora.  I only have 2 multi-families at the moment in Rochester, but I almost gave up because of poor property management.  My properties now do well, communication is great, and I am in an area worse than the 19th Ward (I've heard it's a nice investment area though, but I would defer to locals). 

I frequent the area because of family too, so I at least get to visit the properties...I would just urge caution if those trips are difficult and you can't at least see the area for your first investment.

Best of luck!

Chris

@Mark Updegraff very inspirational numbers.  I'm looking (hoping) to make a move next year into full time real estate and love seeing that it can be done! 

Chris

@Michael Smith

Though we only bought one wood-frame and stopped after that :)

@James Johnson I think you will love central Florida. We moved from Connecticut (my wife from Upstate NY) and stayed about 14 years in Brevard (Atlantic Coast, Central Florida). We left a year and a half ago, and already are planning on moving back.

My parents and I have a few combined rentals in Brevard...be conservative on the insurance cost estimates there :)

@Anthony L. Welcome. There are lots of investors in the Rochester market; both who live there and those who live out of state. I've been happy with my investments there, and hope to grow them. Going to RIT in the fall?

In this day and age of job security, make sure to check with the plan to see if allows repayment even if they are no longer employed with the company. I know my former plan allowed me to make payments after I changed jobs, but others are not so flexible. I believe if they don't allow continued payments, then the loan will have to be paid in full, or be counted as a distribution.

@Scott Schuetz welcome to the forum. I used to live in Brevard for many years (and looking forward to coming back). Where do you do most of your flips?

Chris

George, welcome and I have to admit, where do you get your insurance quotes? Between my parents investments and mine in Brevard they all are over $1000.00 for insurance. We need to shop where you shop =) though I've lost touch a little with the market since we moved...

Chris

@Eric Black when I left in Jan 2013, it seemed like the market had settled but the areas seems to have really picked up since May/June last year. I've found a few deals in Palm Bay area, that I thought would have been good flips, I just couldn't pull the trigger while being away.

Welcome Luke, we came from Florida (Brevard) about 15 months ago up to Greenville SC. We haven't started investing here yet but do so in other areas. What brings you up? What area of Florida you from?

Chris