All Forum Posts by: Gavin Welch

I'm a rental owner and real estate broker and it depends.  So, if the agent is doing management or other things with his property under the umbrella of the brokerage, then yes.  If they keep it separate, then great.. I don't need to know about it. Especially, if it's in a deifferent state.

Here are the top mobile questions:

1. Do you own the land or rent the lot?

2. Is your community 55 years old and greater?

3. What year is your home (mobile)?  (older ones are harder to finance)

4.  Is it single wide or double?  many banks dont lend on single wides.

5.  it there a skirt around it? Do you know about the tie downs?

6.  City water and sewer or well and septic?

7. Have you made any repairs to the property?

These should give you a good place to start.

Gavin

Hey, Erik, I'm an investor and broker in Lakeland.  Let me know if you need any help.  The Orlando market is a tough market, stick to the suburbs because the numbers are better.  

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $72,000
Cash invested: $2,000
Sale price: $118,000

I was going to keet this property, but I found an 11 unit I wanted. So I stuck it on the MLS and got a $118,00 cash offer. So, I repaid the $80,000 private money (principal plus some love) and kept the change for myself. The $30,000 profit in 2 months for an eviction and 2 placements is not a bad return

What made you interested in investing in this type of deal?

The numbers were great.

How did you find this deal and how did you negotiate it?

Wholesaler

How did you finance this deal?

Private $$

How did you add value to the deal?

evicted a bad tenant

What was the outcome?

A little over $30K profit in 2.5 months

Lessons learned? Challenges?

none

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm a broker

Give me a call.  I'm a broker/investor here in town that uses that myself.

Lakeland has been a strong rental market since 2008 and continues to be a good place for decent returns.  Recently, Bartow, Winter Haven, Mulberry and some of these smaller towns continue to produce great numbers.  I've even flipped properties as far south as Ft. Meade. 
Stay away from east (Combee Rd) Lakeland and you should be ok.  The city is divided into two parts north and south.  I-4 is the boundary.  North side properties are typically newer and less expensive while you get more expensive and established neighborhoods and the downtown area in the southside.  The universities also provide great opportunities, but the father east you go, the closer you need to examine the neighborhood.
Good luck

Hey Joel, I'm an investor here in Polk county.  

Joel, I'm an investor/broker here in lakeland.  Let's connect.

Jeffrey, that is correct.  Back in the early days of sinkhole claims, the homeowner did not have to remediate.  They had an option for a check for the insured value of the home or remediate the property.  He took a check

No, I tried.  They need the cash