All Forum Posts by: Ken Holifield

It's a pretty broad question but I'll give my thoughts.  Disclaimer first, I am not a licensed contractor.  But I have bought and sold and helped others buy and sell many properties as well as managed many properties.  

Electrical - Hopefully the electrical has been updated.  Especially if you are looking at properties in the 40s or earlier.  I believe they stopped using knob and tube wiring sometime in the 40s.

Roof - Of course in that amount of years, most likely the roof has been replaced at least a couple times, but this is also a big ticket items to look closely at.

Plumbing - I think it was sometime in the 80s when PVC pipes were starting to be widely used.  A lot of those older houses have corroded cast iron or galvanized pipes.

Asbestos - This was use in many house products all the way back to the 30s.

Lead-based paint - This was used up until 1977.  You'll want to test the paint surfaces for lead.  The big box stores sell a kit for less than $20 bucks I think.

Hope this helps.  Good luck!

I concur with what Minna said.  But don't let that discourage you.  There is still money to be made in those areas.  I know plenty of investors who only buy in those areas.  Good luck!

Hello Rafael and welcome to BP and the world of real estate investing!

The main piece of advice I like to give new investors is this, don't get stuck in analysis paralysis.  This is where I see so many people get caught up and are never able to actually pull the trigger on an investment property.  Be ready financially and educate yourself thoroughly, then just do it.  I know I'm oversimplifying, but that's the basic formula.  I'm in Jax as well, let me know if I can help.  Good luck!

The short answer to your question is no.  There are plenty of contractors, even good contractors here.  You should not experience any delays based on contractor availability from my experience.  Good luck!

Hello Anna,

We use Rentvine for rent collection.  It allows you to also collect daily late fees.  I'm pretty sure it's in the top three best property manager software options. It is a pretty robust program that's fully customizable. However, it depends how many properties you have if it's worth the cost. I think the lower end of cost is around $200/mo so clearly you would need to have several properties at a minimum to justify the cost.  Hope this helps.  Good luck! 

Jacksonville is your spot!  The last affordable large city left in FL.  And I saw an article last week that had Jacksonville climbing to, "...number two in the nation for hottest job markets according to a new analysis by the Wall Street Journal and Moody Analytics. Jacksonville has been improving in the ranks for three years running now, after coming in 5th in 2021 and 3rd in 2022."
Many people are still moving here and property values have continued to appreciate and are projected to continue rising in the future.  Let me know if I can help.  Good luck!

Yeah, most properties will rent within 3 months if they are decent and priced correctly.  Pricing correctly is the main key.  Many owners want to push rental prices and that's when they end up sitting on the market for a while.  Good luck!

I agree with Glen.  Second endorsement for HouseScan.  They are very thorough.  Good luck!

I agree with Minna.  I wouldn't think an appraiser would even get to $20k on it.  But somewhere around that range is a safe bet.

The "good deals" still go pretty fast.  You need to have all your ducks in a row and be able to pull the trigger fast if you see something.  I work with a lot of investors.  Reach out if I can help.  Good luck!