All Forum Posts by: Travis Chaney

I currently own my personal house with no mortgage, and I recently bought my first investment property which is a 3/2 condo. The condo is already rented out with a one year lease. My questions is, how long will I have to wait to buy another investment property. I have money for a down payment but with the condo my debt to income ratio would be to high to qualify. How long do you have to have rental income for the property before it no longer counts against you and actually counts as income?

I was able to get leases signed for 3 new tenants starting 8/3/18. They are graduate students at UF. I used Cozy to do background and credit checks. I really like that web site. Great for landlords!

Hello John, I thought about it but this is my first property and I would really like to handle it myself. Ive done a lot of reading and I have a pretty good grasp on how it works. I want to learn and the only way to do that is to jump in and do it yourself. My father had some rentals in Gainesville as well and he managed them all by himself even living hours away. Eventually once I get a few more properties I might consider that. But for now I want to learn, even if it is the hard way.

Thank you gentleman. And I agree. I believe that tenant screening is the most important thing. A bad tenant can really cost you a lot of time and money! My father owned a couple of condos up here as well when my sister went to college. They were 4bed each wit there own bath and he had separate leases on each room. He got the checks from the parents every month and it worked out well. Hope I have the same luck.

I am Excited to say that I am purchasing my first investment property. This is going to be a rental property near the University of Florida. Ive been studying real estate and investing for years but the one thing I never really did to much research on was the being the landlord part. The rental season starts in August and revolves around the school year. There are already 2 tenants in the unit from the previous owners and their lease runs through 7/31. Currently only 2 of the 3 bedrooms are rented. I believe in this situation, to make the most cash flow I will have to rent the rooms out individually which will require 3 separate leases. I really don't think it will be a problem due to the location and close proximity to the University. Im excited, nervous, and overwhelmed at the same time. Wish me luck!