All Forum Posts by: Craig J.

Other contributors have advised that FL HOA fees are ridiculous high . Make sure you include these in your calculations as well as maintenance fees of up to 25% to rent, clean, and provide entry to renters.

I think it all depends on your journey. If you are early in your real estate investments I would keep capital free to invest in more property. If you are late in your journey and have all of the real estate you want, I see no problem in paying them off and enjoying collecting the rents.

In do not know if this has been mentioned but it would be great to find forms like Real Estate Purchase Agreements, Inspection forms, etc.

 It may be simpler and less expensive to talk to them and offer them say $500 to vacate by end of month with no damage. Cut your losses and get a good tenant in place.

It would sure be nice if mobile app would allow us to use calculators on site to do analysis on the fly.

A few lessons I learned on my first flip:

1) For cabinetry get a quote from Lowes or HD and compare prices and delivery with local cabinet guys.....local guys may surprise you

2) Complete a detailed scope of work for your contractor and hold him to it and his original bid. The more detailed you are means less changes and contractor has little argument for increase in prices

3) Stainless steel appliances have current blink and will help you sell it when ready

4) About 2 weeks before completion, put for sale by owner sign in front with your number covered with "Coming Soon" banner......both can be bought at Lowes/ HD

5) When complete with all renovations....invite real estate professionals to drop by and see your property. They will give you honest answers regarding things like price, commission expected ( I paid 2.5%), and they know local market and buyers.

Agreed with "improve the phone app". The tools should be easily available on your phone and they are not!

Randy I just completed a flip in KY and listed it on zillow as a home for sale by owner with a 2.5% offer for realtors. Sold it in one week and paid 2.5% without a problem. If you have updated your flip like i did mine it should not be hard to sell in this market.

Thanks all for the great advice.....I may have  a mixture of the two mortgages to free up some spending money....a golfer has needs....and run the others over 30 to leverage my purchases.

I am getting into real estate a little late in life, as I am now 57 YO. I am looking at investing into multi-family homes. If I get these soon and mortgage to allow renters to defray mortgage and use 30 Yr mortgage, I would be 87 before they are paid off. Why would not I want to pay these off early and enjoy the increase in pay in my later years? Mortgage rates are low and both should be affordable.