All Forum Posts by: Joseph Beilke

Sold two STR in 32137 this past fall. Great place to invest!

@Joshua Middleton

I am very familiar with that street, good friend used to rent Long term on it for about 7 years.  He paid $1800 for a 3/2.  I would say you're rolling the dice with that neighborhood and the street trying to push LUX.  

Even the nicer homes don't rent for over $2,750 a month there. I look forward to seeing it when it's complete. If you get your $4500, I'll consider doing one with you.

I will wish you best of luck.

@Zachary Kay

We did not.  But we looked a little more closely at real estate this trip.  Could be in the cards in 2026

@Zachary Kay

Thanks Zachary!  Funny thing is this thread is pretty old and we just returned Saturday night from another trip to CR.  Stayed the whole time in Manuel Antonio are except when we went out on adventures like fishing and ATVing.

Grew up going to OBX and now live in Palm Coast Fl about 30 min south of St Augustine. I have friends from up north that have places in OBX and I agree that OBX is more vacation beach spot. It unique in geography and access, plus the wealth coming to OBX from from the DMV is high, so rental can be pushed high. One major consideration in my opinion is how much do you want to use the property during peak season. If you use the property in OBX between May and Sept you will not make the ROI your looking for over the year. As with the father south you go the season expands greatly. For example St Augustine between Thanksgiving and Mid January you have nights of lights. The 3 and 4 day weekends are booked solid and you get a premium income.

I think the amount you use the property and your ROI goals need to be heavily added to your equation with rental vacancies and seasons.

What no one is talking about it the amount of debt families are carrying right now.  I had a conversation recently about debt in America and what came to light was how will the American people respond having a little more cash in their pocket.  How are they going to have more cash you ask?  Well I believe that the incoming administration will in the first few week find ways to reduce regulation and increase domestic energy production.  

With that being said everything will get a little cheaper.  Energy cost affects every aspect of our daily lives.  Little changes at every corner will snow ball into more money in your pocket.  30 cents here, 50 cents there and so forth will add up quick.

So will the American people tackle their increased debts or will they say " hey I can afford the monthly payment now".  My guess is that most have not learned and will spend the money over paying down debt.  This will push people into the market to buy, with this higher demand and after the 7-9 month supply that we already have starting to dwindle down I see prices rising in some markets.  Add mortgage rate likely coming down some too and we are back to Pre Covid market again.  

I really do not see tax policy effecting the market very much.

Just my 2 cents, thoughts?  

@Steve Dora

There is some amazing advice in the replies.  I really do not think I could add any value expect
I would only say I do not agree with @John Clark statement "Agents, even buyer's agents, are not your friend."

My guess is a slim ball agent pooped on his waffles one morning and I am truly sorry he has those feelings.  

I for one believe a smart agent that is an investor themself is and can be your best ally.  When choosing one in the area your plan to invest in, it is very important that you interview them in-depth to make sure they are not FOS.  Have a solid list of questions and follow up questions based on there answers.  It's not hard to figure out which investor agents are the real deal from the BS agent that just wanna close a deal.  

Once you have that agent they will be in your corner the whole time, they will have connection to professionals in trades, they will have the experience to guide you through tough decisions and be your second set of eyes on every thing.   

John said  "not your friend" I for one have turn many buyers and sellers into some of our best friends, dinners and drinks, Super Bowl party, and even a vacation together.  I took a married tenant and turn them into an owners and now on to an investor with their first Duplex.  

Good agents can make a deal go real smooth, and they can save you from make a financial crippling mistake. 

Good luck Steve and welcome to the club!

@Mario Ballciti

I have not forgot about calling you.  Lot going on with Milton headed towards us.  It might only be CAT 1 by the time it get to us, but that still could cause problems.  I reached out to all my tenants, buyers and sellers these last few days to help them prepare with their properties.  I have tenant that is from CA that is worried, they're used to earth quakes and fires.  This Milton is scaring them,  little bit of hand holding too. 

Talk soon Mario!

@Jason Guenther

Okay so let's assume you sell for 95% of the Zillow estimate and pay out 5% in commission and another 1.5% in closing fees.  After your payoff you have $160K. 

If $160K will put down 20% on a Duplex or better and the rental income is enough to pay 75% or better of the of the full mortgage (PITI) they I think you have a winner. You will be responsible for 25% of the mortgage and thus will allow you save faster to obtain a second property. Do the same again, move to another duplex and rinse and repeat. Your income level of $84-95K plus 75% of rental income should make you a well qualified buyer. The key here is to rinse and repeat a few times to build wealth. Keep your debt low to zero on everything but your mortgage, do not move to a second property until you have 6 month reserves for vacancies.

Based on the prices I see for multi family in Little Rock at a glance I think this is very reachable, pay off the $55K first and get to the number crunching!

Here in Florida text messages as legal documentation is a gray area. I'm dealing with a Union issue right now in a non real estate matter and labor relations attorney stated anything via text  is not considered binding.   As for real estate matters I would rely on email and certified mail.

Document document document!  I have found using our property management software to communicate as a way for it to be saved 3rd party and reliable for legal matters.

Forbes article 1-2024