All Forum Posts by: John N.

"I'm not in the mood for spending time or money on an eviction."

Enjoy your permanent tenant.  

@Kevin Sobilo  My thoughts exactly.  Thank you for making my property look occupied.

I don't think this country has seen a housing crisis like exists in Panama City right now.  There are approx. 8000 apartments in PC, currently 8 months after the storm 4000 of them are still uninhabitable.  The numbers for SFHs are even worse.   PC has lost 25% of all [public school students, closed 4 schools and fired over 100 teachers due to lack of housing.  There are still families living in tents in Fl. in the summer.   Renting to a good tenant and donating money doesn't help when there are simply no places to live.  To each their own of course but, I feel that helping a family that had a home one day and doesn't have one the next is the right thing to do. 

@Theresa Harris

"

I call them by their street name"  Like Sluggo, T-Bang, Dooky Shoes or Big Easy?

Good Karma.  I live in Panama City, Fl.  Oct 10th last year the third strongest hurricane in history hit Panama City,  hundreds of people with empty summer rentals donated housing to homeless families.  I did it with a rental house until the family got on its feet after the storm.  Their rental was destroyed and there was simply no where to go.  No where.  I would do it again  without a second thought.  Human compassion trumps profit under these circumstances. 

Hi, I am relatively new to being a landlord. My recently filled rental does not have a mortgage and I am using 10k as a nice round number to keep in reserve. A new roof is about 5k, a complete new AC is about 5K. Both of these items are less than 6 months old (Thank you Hurricane Michael) in the house I am talking about but 10k is still my comfort number. With 10k in reserve there is zero stress in worrying about capex.

Pay your neighbor 20 bucks a month to use their wifi on a temp basis and keep your Simplisafe.

I'm curious about this as well.  I don't see a down side to owning my properties outright.  Before anyone jumps in let me explain.  I am not trying to build an empire.  My goal is to replace my 9-5 income so I can retire early.  I'm 55 now so its time.

For example, I own a house, I have about 45k in it.  I own it.  This house easily cash flows $1,000 a month.  That money just sits in an interest bearing account until another deal I can't refuse comes along and I jump on it.  A little rehab and then I am cash flowing another $1,000 a month. For some reason that 1k a month has become my goal.  You really don't have to do this to many times before the monthly cash flow puts a big grin on your face.

Perhaps I prefer this method because of the low stress/slow pace it allows me. If I want to spend 6-8 months doing a simple rehab that is not an issue because I have no mortgage and next to zero cost while the house is empty. I think the difference here is that different investors have different goals. I've done my work, made my money, had a career I am proud of and now to be frank. I don't want to work and BRRRR sounds exhausting. Maybe its just laziness...LOL

My wife and I are partners in our investing.  I am certainly no expert but I have had the hardest time keeping her focused on the fact that WE are not going to be living in the rental we are rehabbing. (C/D) Sure a swing on the screened porch would be nice but not for tenants.  A dishwasher would be great, so would wood floors and solid surface countertops, but not for tenants.  "I want to paint the rooms these colors"  WE are not going to be living there.

The rental needs to be safe, sound, generic and durable.  The safer, sounder and more durable it is the more money it puts into your pocket.

Please Don't Begin Every Word With A Capital Letter.  It Makes What You Are Writing mUch morE Difffcult tO read.