All Forum Posts by: Jenny Yu

Hi @Jeff Riber too late I paid these unethical jerks.  I think they know us remote landlords are at their mercy.  Personally, I think this company is probaby about to go out of business - they have lots of inventory, and it's not exactly prudent to be investing in FL in the coastal areas now anyway.  

I just got another random $475 bill from them.  No invoice, no mention of what this is for.  They are so unethical!!!  :(

Update on Suncoast PM...

I bought a property in Jacksonville from them, with the 24 month PM contract.  I got so lucky - the first 3 years, during the depths of the pandemic, I had a perfect tenant, no problems, even during the storms.  Forward to 2023, the tenant is unfortunately moving out.  I get a new tenant at a LOWER rent, ALWAYS late, and then ... the septic tank GOES TO HELL.  $7k damage.  Of course, no warranty.  I decide to sell.  

I use Suncoast to sell my property.  They don't do ****.  They sit on their *** for 2 months, not a single bite.  I drop them and use a competent local RE agent, who did a great job.   Then, after I sell the property in Aug 2024, after 5 months of vacancy with Suncoast - I get a call, saying I owe them a month's rent, because I didn't use them to sell my property.

WHAT ********!!!  So that means even many years down the line, after I've dropped them completely, and I decide to sell my property - they're going to come after me and charge me a months rent because they didn't sell my property.

WHAT SCUMBAGS!!!  They must be totally desperate!  I had severed ties with them for many months, and they expect me to use them to sell my property?!  I don't think so!!!

BUYER BEWARE!!!

Ok I had no idea I guess that makes sense thanks for the heads up

I'm putting my rental property on the open market in Jacksonville.  I'm not happy with my current listing agent.  I need someone aggressive that knows that local area.  I don't want it sitting there vacant.  3 bed / 2 bath, garage, built 2020.  Please reach out to me!  Thank you!  Jenny 

Like anything -depends on your goals. Why do you feel you need to pay off your primary house? You'll just be sitting on a ton of equity with no tax benefits. I am like the others on this thread. I used my HELOC as down payments for my rental properties. This is my pension, because I don't have one with my W2 job. I've built up 9 properties, about to close on #10. All down payments were from my HELOC. It's the Robert Kiyosaki method. I didn't buy these houses - my HELOC bought these houses!

Good luck!

 Hi @Diya RS  - so I've been actively looking in Mooresville and Charlotte, and am in contract in Mooresville on a new build.  I decided, even though Sherrils Ford may have potential upside because it's not as populated, I don't have the stomach to wait that long.  When it comes to Charlotte vs Mooresville - they're a toss up to me.  I ran into a new build in Mooresville that is within my price range ($329k).  I prob won't cashflow for a couple of years, but I'm willing to take that risk.  When it comes to Sherrill's Ford, I wouldn't cash flow for a good 5-10 years, I'm not willing to wait that long.  

When it comes to Charlotte, they weren't accepting my offers, so I just kept moving on.  

Sherrils Ford vs Mooresville - I like the location of Mooresville wrt commuting, etc.  Sherrils Ford is beautiful - seems more vacation home-ish to me.  Maybe that'll be my next purchase! 

Hi - I had the same question.  It's 5 months later.  Does anyone have insight on Sherrills Ford vs Mooresville? Reddy - this sounds like a new build that you're looking at?  Did you buy it?  If so, how are you liking it so far?

Hi looks like you got a lot of sound advice. Here’s my humble advice. If you’re just getting started with RE investing I think you need to readjust your expectations. You can’t buy $500k houses to rent out and expect $2k cashflow in 2-3years unless you’re doing active short term rentals.  There is nothing passive about that. If you’re looking to invest in CA passively, you should expect to be cash flow negative for many years, understanding that you’re in it for the appreciation. Im in CA and I invest passively outside of CA, because I wanted cash flow. I started about 6 years ago, so it was a lot easier back then. 

I understand that $500k sounds cheap to Bay Area folks (I’m one of them), but it isn’t when it comes to passive real estate investing. You need to pivot your strategy or adjust your expectations. Good luck!!👍🏼