All Forum Posts by: James Barnhart

Actually, heat doesn't always rise.  It does go from a warmer place to a cooler place.  (Did you ever open the attic access in the summer, and feel the hot air come down on you?)

When you meet the HVAC guy, talk to him about maybe installing a separate unit for each floor.  It is a big investment, but you will have improved the property greatly, and enhanced it's value.

And, ask him to do a cooling and heating load calculation to determine what size equipment you need.  Otherwise, you are just guessing at what size you need.  I bet the equipment was never properly sized right originally. 

 (I am a retired HVAC contractor and I used to teach it at a vocational school in the evenings.)

I live in DeLand, Fl, which is about halfway between Orlando and Daytona Beach, and about 35 mins to the beach.  DeLand is a smaller town that recently won the "America's Mainstreet" award.  It is also home to Stetson University.  Homes are not really that high compared to some other areas of Florida.  I have good success with flips and rentals.  

Daytona Beach is a tourist town and just seems not all that friendly to new people, in my observation.

I like the Jax/St. Augustine area also and it seems to be growing.  Only thing is that Jacksonville has had I-95 road construction going on for the past 45 years or more, it seems.

Years ago, I left the Miami/Fort Lauderdale area because it grew so big and traffic was terrible.  But, the climate is nice.

I have found some good deals on Craigslist, and by just talking to a lot of people and handing out cards.   Be genuinely interested in them, not for just what you can get from them.   

MLS is not the best place to find them. But, if the property has been on the market for over 90 days and needs work, you may find a deal.

Get on wholesalers buyers lists.  That will help you to learn what the wholesale market is like.  

Call everyone who has a FSBO sign in their yard and listen to them tell you their story about why they are selling. Sometimes you can help them and make money doing it.

I suggest that you keep in mind that the price the seller is asking, means very little to you.  They are looking for a retail price, and you are buying wholesale.

What does matter, is running the numbers and see if it is a good deal.  Offer what is the right price for you.  BP has very good analysis tools to use to work the numbers.

But, you have to first have a buyers list yourself. Otherwise, how are you going to sell that good deal you find? Ask buyers what they are looking for, and what they don't want. (I don't like pools or old houses.) Ask, what % of ARV they want to buy at. Ask if they can buy for cash.

Welcome to the BP forums.  I think you will like it here and will learn a lot.  I know that I have.

If the property is not your personal residence, you may not be able to pull permits yourself.  (A building can fall down on yourself, not not on other people, is the rational.)  Check with your building permit office.

In my rental agreements, I have a clause that says the appliances are provided as a convenience to the tenants, and are not part of what they are renting.  If they do need repair or replacement, I will do that asap, but that won't give them any excuse to not pay the rent, or reduce it.

In this case, if you have a good tenant otherwise, I would just buy a refrigerator for the unit asap, and make her happy.  You need to buy a one anyway, apparently.  Keeping the tenants happy is good business.

I would like to get a recommendation for an electrician that does smaller jobs associated with rehabs in SFR. I only want to use someone that is licensed by the state and works the Orlando area. Who do you know or use?

CL has a lot of ads, but none show a license number, so I am very skeptical of any of them.  

Based on what we just read above, Andrew is incorrect.  Or, did I miss something?

There have been many articles and comments on BP that explain why someone would want tp stay away from the war zones.  It would be a good idea to read some of them.

I do that myself sometimes to help buy a house..    Then I fix up whatever needs it, make it look nice and like new.  

After it is done, I get a 30 year mortgage on it, and can pull out almost all of the money I have in it.  

Then, I pay back the HELOC, and let it be available for another property.

If you can buy at a good price, this can be a good strategy. I would not just let the HELOC stay in place, if I were you, since it is secured by your residence. It is better to use it on a temporary basis, and be sure to have an exit strategy.