All Forum Posts by: Fred Conway

Hey Sean,

Welcome, what types of property (single family, condos, etc) and area are you looking at in Tampa?

love it, how are your renters finding your place? Websites? (which ones?) Driving thought he neighborhood? 

Obviously Texas is a landlord friendly state, any idea how florida and arizona compare?

like @Account Closed said, location is crucial, if you can get near an area that's very desirable (beach, downtown, area with lots of jobs, etc) you can expect to have multiple renters to choose from and expect appreciation of the property. That would be the most important factor. After that, what does the HOA cover? Some HOA's cover property insurance, water, electricity, cable, etc. So is the HOA reasonable? I'm looking into buying a condo on the beach for the appreciation. Rents are going from anywhere between 2-3k a month depending on the condo. I don't plan to make much in terms of cash flow, maybe $200 -$300 a month, but in 10 years, I imagine the property will be worth 10-15% more than what I paid for it.

As every answer on this forum, it's going to depend on what % they want and what the ROI on that % is. To me, if you live close enough to check in on the property every so often, use a site like VRBO and have keyless entry setup, it might not be worth paying $200 per renter. That can add up pretty quickly for an hour or 2 of your time. However if you don't live anywhere near the property and can find a good property manager, might be worth it.

i've been wondering the same thing, been thinking of pinellas county and the beach area

@Rob Ringlehan have you thought about vacation rentals on the beach? Destin is a great area, you may have to look a little harder to find something on the beach but if you could find a deal, it'd really make you some money.

Hey Brock, 

Any thoughts on how you're going to go about making your current properties more profitable?

It sounds like you're first priority is just getting rid of the cash. Why not pay cash for the houses? You'll have less property to manage and your cash flow could easily be over 12k a month with 8-10 homes

i didn't read through all the posts so if someone already said this, forgive me. But if you're in a tight situation, one of the best things you could do is get the houses out of your name and into something like an llc or if you have children, that might be even better. This is all going to depend on your situation but try to get it out of your name.