All Forum Posts by: Jack Halldin

$1,550 for a 3/2 1438 sq ft condo in Bonita Springs, Fl

I think you will also owe them annual tax document should they choose to itemize. Are you also escrowing taxes and insurance? I would think they would want to make sure that is accounted for as well.

Please email me any in Colorado.

Sorry meant CapEx in comment.

Caped $90? That seems real low especially if it is an older place. I don't run any calculations without a minimum of $200-$250 per month depending on age of roof, furnace, appliances.

Sorry try this for some background, there is a legal link out there but can't see it was going from memory. http://www.forbes.com/forbes/2006/0605/150.html

Google Hanna verses the IRS, you don't want to mess up this definition and professional tax advice a must.

Nice job, my 2 cents - a 5 year tenant that treats the place well is worth their weight in gold I would consider all the unknowns with a new tenant or costs and time associated with finding a new tenant and see how close you can get to your desired rental price with your existing tenant. Nice job on the zero percent, I might not be in your league but the low fee or no fee cash advances seem to be offered less frequently these days.

Excellent info in this link, looks like min $200 and I don't see anything out of line. https://www.biggerpockets.com/renewsblog/2015/03/03/why-you-cant-make-money-on-30000-houses/

I own 2 condos in Bonita, the numbers worked a lot better a couple of years ago. Don't know what the future holds for appreciation but the condo market has appreciated quite a bit over the last couple of years. One thing I have noticed is all the construction seems to be SFH and very little condo related, I am hopeful that keeps rental demand high. One of my units is at the Santuary at Imperial River. I wish I had bought every one that was for sale in 2014/15. Unfortunately I had to move for work and am now a remote owner. The property management company does everything for you for no fee. They screen tenants, do background checks, lease paperwork and keep me updated on any tenant issues. People come in asking about rentals routinely, I had no vacancy when one tenant moved out and I think they routinely turn people away that are checking on condos for rent. The HOA finances are great, and a fairly low HOA fee for the amenities provided. Biggest downside I see is real estate taxes are high relative to other places in US, of course with no state income tax the gov has to get the money somewhere. If you lived in your place that would be somewhat mitigated by homestead rules.