All Forum Posts by: Greg Brown

I went through something similar. Flew down, interviews 4 property managers then chose a new one. Just cant really do an out of state rental professionally without boots on the ground like someone else said.

In my opinion is like a lifestyle choice. Similar to driving a high end car. You can buy a property in a country you love visiting and possibly want to retire too and if it can generate some passive income than it's a plus.

Hey Brian, I've had recent luck in Seminole county. LMK if you're still interested in information. Recently acquired a nice single family that is cash flowing nicely so far.

Thanks for the input. Makes sense

I have owned a 1/1 in Atlanta for about 14 months now. My Idea was to live there to escape NE winters and rent it out in the future after 1 year. 

Well of course a % rental cap is in place and I can't rent it out now according to HOA. I knew there was a rental cap in place before I purchased it and that I would be placed on an owner's wanting to rent wait list.

Should I hold on to the property or sell it and invest in other opportunities? 

The location is prime next to the Atlanta beltline and across the street from a mixed use development, Waldo Atl which should be done in a year. At the moment I don't mind visiting  for a week or two every few months. I even allowed a travel nurse friend to stay there for a few months.

@Sebastian Garcia That seems like a great investment. Your cap rate must be excellent! Did you ever find a property manager that made you comfortable?

I was in your shoes about 6 years ago and chose the house hack route.  I liked it because it allowed me reduce some financial risk, go at my own pace, implement in real time things learned on this forum, and at the end had the option to hold as rental or sell.

If going to house hack route as a younger person, I would highly recommend a multifamily. Just live in one unit while you fix the other.

Thanks @Brandon Reed That's good to know.

Interested in some rental property in the Orlando area and Richmond Heights stands out a bit. Several properties fit the 70% rule and I want to investigate further. Can anyone recommend a lender in the area?   I spoke with Seacoast Bank recently but wouldn't mind other recommendations.

@Omar Cantu Your path is similar to how I got started about 3 years ago. I house hacked a single family in my hometown then sold for a profit. (Should have brrr'd)  Now I have tons of confidence and more knowledge leading to another opportunity. I made money but my mistake was not asking enough questions to my agent and lender.

The first leap can be tough but getting prequalified is the best first step!!!!!!!

It makes things "real".

I feel like your story is much like mine. Have you already run your numbers?