All Forum Posts by: Colin Higgins

It's about to be that time again everyone, the Fed meets on the 21st to discuss rate hikes and the future of our economy. With SVB collapse, crypto scams, wars over seas, the apocalypse, ect... whats everything their next move will be? I predict a mild rate increase, I don't really have anything to back this up other than Jerome Powell saying they wont back down anytime soon. What are your thoughts?

Quote from @Brandon Collins:

Hello everyone, I recently got my real estate license to have access to the MLS to flip properties, but now I'm considering keeping the fixer uppers I find and renting them out as short term vacation rentals. Because I am in Lakeland Florida, I thought this would be the perfect place since we are directly inbetween Orlando and Tamp. What should I look for, lookout for, and/or consider when buying properties for this purpose?

As I learn more about this crazy state, SINK HOLES, always get your inspections done. Just had to plug that real quick, as far as investments and STR you can do more research but Orlando has really cracked down on STRs that aren't owner occupied. However a great historic city to the north of Orlando is Sanford. I am moving there myself and cannot get enough of it, the town is growing fast, has a largest tourist industry, and very Air BnB friendly. Many of the homes are older and will need renovations but the opportunity is there.

I cant speak on Missouri but I used an online site called pro license here in Florida. I think allot of online sites will try to up charge you for live help, flash cards, and coaching. Its all unnecessary. Take the cheapest necessary prerequisite course, buy some flash cards from a local store, use free youtube quizs on your state, you'll be fine. The real learning comes after your hang your license. I do recommend once your get your license, take your continued education immediately, it has so much more useful information that should be required in the initial education but isn't for some reason. I do credit the book "real estate license exams for dummies". It takes broad ethics, FHA, HUD laws, situations and gives you real life examples of how these apply and breakdown. It made the laws and purpose of being an agent far easier to digest.

As I purchase my first property I'm looking to rent a room from time to time (the ol househack) to offset the mortgage. Lucky for me, my home is on a good size lot and my community is boat/RV friendly. I'm looking to purchase a bumper pull travel trailer or toy hauler later on this year. something I will appreciate and use regardless. I'm looking to airbnb it for additional income and was curious what other peoples experiences have been. Specifically what they charged per night, insurance costs, horror stories, and upkeep.

Quote from @Rachelle Bisaillon:

I have a piece of land with a small wood house that I am looking to demolish and build two townhomes on. I have not had plans drawn up yet but some basic ideas from local builders are 2 homes @1700 sq feet each. Build cost $200-$250sq ft. I owe $232,000 on it and expect roughly $700,000 to build. ARV after completed should be approx $1,600,000. I am a little cash poor at the moment as I have another house under renovation after a flood. I am looking for financing so I can put down as little as possible so I don't have to sell another house for capital and pay crazy taxes on it. I prefer to find a way to finance and build now and refinance once completed.

 It sounds like you've considered selling another home to fund the deal but your concern is the tax it would cost. I'm curious if the 1031 exchange would work in the scenario towards the construction of an investment property. I've read The new construction project must be equal to or greater than in value than the original investment property at the end of the construction. I would verify this but it may be an option. 

Quote from @Chris Davidson:

@Colin Higgins this is more of a business over investing. You have to come to an agreement with the utility company, or find ways to directly sell. Given the long breakeven point on solar you would need some robust contracts to ensure it turns profitable, and with rising interest rates the cost of capital is increasing.

helpful thankyou

Dog parks, Reddit, Facebook, Cigar lounges, breweries, instagram, youtube, and the occasional real estate meet up

Hi everyone. As I research more the USDA has programs for solar farms and providing energy to rural areas in the US. Has anyone participated in those or used land and solar as an investment avenue? I am interested how this preforms in the southwest US specifically.

Quote from @AJ Jordan:

I am new and starting out in property management. I am looking to make some new connections in the industry. I am from Massachusetts but would love to connect if your from elsewhere too!

 Hey AJ, just a friendly reminder to shop around as you receive recommendations, finding a good PM is like finding a good partner. Gotta make sure you interviewing them well and make sure they aren't just worried about their bottom line!

I agree if you find your client has the same exact criteria as you, at the same time you are looking to purchase as well, just ... refer them out to another good agent. There's plenty of fish in the sea. This way it won't be a conflict of interest and you can do your fiduciary duty, & possibly make a little referral fee on the side. Chances are you can't/won't buy every deal you come across and their needs/approach will be different than yours.