All Forum Posts by: Griffin Goudreau

Does anyone have a recommended leasing company in JAX, FL?

Hello BP Community!

I am looking to hire a realtor/property manager that can be boots on the ground for all of my operations in Jacksonville. I do 20-30 flips per year and have numerous rentals in the area but recently relocated to Tampa to continue to build my business. 

The position would essentially check on all current projects once a week and provide basic property management services to existing tenants. We would compensate via sales commission on the back end. The past year, our relator in Jax sold over 10mm in real estate for us.

Let me know if you have any recommendations!

Thanks

Thank you @Bill Exeter

Hi BP,

I purchased an occupied rental property in November 2020. I have a significant amount of equity in this deal and would like to exchange the rental for another rental property in a different city. I have read online that the IRS would recommend I hold the investment property for at least 2 years but it's not a strict requirement. In my situation, since I clearly bought it as a rental, would I be able to get away with going through a 1031 exchange despite owning it for 6 months.

As always your help is appreciated.

Thanks Dave, appreciate the response!

Curious where you all go for your real estate news / market research. 

Hello BP, 

My name is Griffin Goudreau and I am a 26 yo investor in San Diego. Out of college, I got my CPA and worked as an auditor for few years and I have since been working as a financial analyst for a large private REIT in San Diego. Since purchasing my first property last September, I have been obsessed with learning about real estate investing and growing a rental portfolio of both SFH and MF in CA and out-of-state. In the last few months, I got my real estate license and I even closed on 3 properties in Jacksonville, FL, and have been going through some growing pains with being a landlord. I do want to make the leap into more MF deals and would love to connect with other investors via coffee, lunch, dinner, zoom, etc. Also, any REIA or meetup suggestions in the San Diego Area would be greatly appreciated.

PS. I believe I can also provide some value to anyone looking to get more experience in real estate financial modeling.

Best,

Griffin

SFR

@Erica Larence-Penna

Are there any lenders out there that can provide a cash-out refinance for an investment property at 85% LTV?

For example, I have a property worth 200k. PP = 110k + Rehab = 30k (All-in 140k). We want to keep it as a rental but the loan companies I'm talking to won't budge from a 25% down payment upon the refinance, leaving a small margin to avoid coming out of pocket when paying off the hard money.

I am a new investor and obviously need to do my homework but any insights will help!

Hey BP Community,

I recently picked up a rental in Florida. I previously understood that there is no state income tax. Does this apply to rental income? Outside of property taxes, what other tax obligations should I be aware of when operating a rental business in FL?

Any help would be greatly appreciated!