All Forum Posts by: Gavin Welch

@Phillip Rosin your 12% Coc seems high especially for duplexes or quads.. now you may get lucky, but I think it’s a bit high

Gavin

@Marco Morkous. Marcos, Russell is correct, no agent can be an expert everywhere. Get an agent that is an expert in an area you like.

As a broker I won’t work with you if you are also working with another agent in my area. I don’t need to waste my time on you if you are not loyal to me. I have the inside to off market deals and since I rehab so many homes myself my vendors have huge discounts on their services to my clients. So when people use me they also get my experience and vendors as well.

Good luck.

Brandon, I'm an investor/broker/property manager here in Lakeland.  I'd be glad to help you..

@Matthew Anderson. I’d rent the empty at market rent. Give the tenants that are month to month 2 months notice that you are raising the rent (I’d split the difference between where you are and where you want to be).

Turnover kills cash flow.. so if you can raise them slowly I think that would be better to retain tenants.

Good luck

Rosa, the 1% rule means that if you buy for 100,000 you need $1000 per mo rent.  Its a rule of thumb

My client bought three townhouses off market for 40K each, they appraised at $90K and rent for 900 per month.. properties increase approximately 4-6% per year. 

Your family member is seeing the truth, lakeland is a strong market for rentals.

@Account Closed you could NOT be more wrong about Lakeland.  Our population is going to double in the next 10 years. You can buy 1% to 2% properties here and have a significant increase in value over the next few years. 

Rosa, I personally like the idea of getting 5 single families with good cash flow, then pay off house #1 and buy #6.  Keep snowballing to pay of the first ones and purchasing more.  Multifamilies are hard to find here in lakeland and are typically overpriced when you do see them for sale.  I'm a broker/property manager/investor here in lakeland.  Reach out if you'd like to see some good rentals in this area.

Your property manager stinks.. Call me if you need help I manage a lot of properties including my own.. 

If you are going to wholesale real estate you do not need a license, if have a license, there is a bit more liability on you.

DO NOT SPEND MONEY ON A MENTOR!!! If you are going to start wholesaling, find distressed owners and contract them.  Preforeclosure in zillow is a good place to start.  Pull a probate list and mail them or call. Or driving for dollars.  DO NOT SPEND MONEY.. You can get the help for free.  Good luck,   Reach out if you have any questions.