All Forum Posts by: Manny Cirino

That is why security deposits are collected for. Each tenant is only responsible for there portion. Move on and find a new tenant encouraged the 2 girls left to spread the word.

If nothing looks good then I would say you are on the right path to finding a good deal. The only thing I will recommend is to not assume all of the deferred maintenance on a property has to be address right-a-way. Not every property needs no be over improved not every tenant group has the standards of living you would assume they should have. Sometimes fresh paid and steamed carpets and refurbished appliances get the job done.

Most Realtors who live in CT can help you. All an out of state agent is going to do is make a referral fee off of you. There is no need to go through a middle man. Message me and I can direct you better. 

p.s. it's pronounced Real-tour, Realtor no i sorry it's just a huge pet peeve of mines.

Those are all good areas to buy in. New Britain definitely has the most options out of the 3 for triplex. 

What area/cities are you looking in?

Negative cashflow almost defeats the purpose of house hacking, but unlike most I'm a fan of it. If you can reduce your rent from $1,200 a month to $380 then why not. However; I would recommend continuing your search for a triplex and you can find one to keep you in the green.

  There isn't much multifamily inventory out in Orlando to begin with. The little inventory available will go fast. Most of the multifamily inventory is on the outskirts of Orlando. I recommend getting a Realtor to auto email you new inventory daily and contact multiple property management companies to see if they have any clients selling soon or willing to sell. You also need to link with wholesalers and network at the local REIAs. That's the best I could recommend.

Susan I always follow one simple test. 

If you have 1 single family house and the tenant leaves how much of the mortgage are you responsible for?

Now if you have a triplex and just 1 tenant leaves how much are you responsible for?

 Florida is such a free state, the laws there are very straight forward. The tenants of coarse have there rights and properties must meet certain standards, but eviction fairly easy you get a tenant out it about 3-14 days. First its required you give them 3 day Notice to return possession of the property followed by the eviction. And rent control is not a thing there yet.

It very well could be. I lived in Lakeland and worked the surrounding areas, so I could speak to that very well. Jacksonville was about a 3 hour drive for me so rarely did I  go out there far. But when I did I notice it is a split city have. Has it's good parts, but the majority seemed to be run down. I guess that means more room for value add opportunities.