All Forum Posts by: Logan Jones

@isham 

@Isham Zabala That's awesome! How did you come up with that estimate? Have you met with a lender yet? Or are you estimating what you'll need to save yourself? 

There are a couple of Great properties currently listed in Tallahassee that would make excellent house hacks. Who in the Tallahassee area is interested in house hacking?

Personally I think it's a great way to help choose your market. Every city has a traditional tenant base to rent to. Not every city has "bonus tenants" such as students from universities, government employees from state capitols, and armed forces from military bases. It's my belief that investing in a city with as many of these options to choose from can only benefit you. I think you're certainly on the right track.  

Hey there and welcome! I'd be happy to assist you in your search for a great investment opportunity or at least open up the dialogue. I'm a full time agent here in the Tallahassee market. The broker I work for is an investor himself as well as owns a property management company. I personally started as an investor first, achieved enough passive income through rentals to leave my W2 job, and then went full time as an agent. So I'm familiar with what an investor wants, and how they operate. What is your investment experience? 

Where are all of my house hackers in the Tallahassee area? There are still great properties available in great neighborhoods on the MLS that can be house hacked. Properties that I would live in. I just viewed two yesterday. Someone told me the other day "you can't house hack in this market." They are wrong. The market is hot no doubt but there are still deals to be found if you look hard enough.

Thoughts?

I don't personally rent to college students so I'm not an expert in that area. Having said that, I would listen to all of the podcasts episodes where the hosts cater to the student population to pick up the basics as well as some nuggets. I would also consider calling different local property management companies and tell them you have a property and are considering renting it out but are nervous to rent to college students. I would ask them on what steps they take as a business to protect, inspect, and manage leases to college students. 

Ask them how the process works and if they have additional systems and processes for college students? Like you mentioned earlier, are they getting the parents to cosign? Do they have one individual in the house that they primarily communicate with? Are they doing quarterly or bi-annual walk throughs? Find out what they are doing and mimic best practices. I Would also call more than one. Not all companies are the same. 

@Shahbaz Yousaf I agree with Yu Liu that students will return. Let's face it, for many students college is not just about education but equally an experience. A coming of age if you will. So there will be a healthy student population to target for the foreseeable future.

But that is just one tenant base to go after. If that's your niche then great, learn it, and master it. But I always like to remind people that Tallahassee is also home to a very large government population which is a whole other stable tenant base. We also have our traditional renters just like any other city that make up a large tenant base. Overall, Tallahassee is a great place to invest because we have a diverse rental population.

I have a buyer who is interested in a mobile home that is currently listed in the Pensacola area. He is looking to see the property either today or tomorrow while he is in town. His current home is under contract with an all cash offer and he is waiting to close on the sale of his house until he can get something else under contract. He would be paying cash for the Pensacola property once he closes on his house in South Florida. Are any agents interested in reaching out and working with him? I'm not asking for a referral fee. I believe the property is listed at 90k. Thanks.

@Jack Bier while although we do have a very large student population that's only one tenant class we have to offer her in Tallahassee. We also have a very large segment of government employees because many of Florida's government departments are headquartered here. Those are just two tenant populations you could choose to cater to. We also have the same tenant base most other cities do with working class individuals working in healthcare, food service, automotive, education, etc. The only difference is our price points are smaller compared to larger markets like Miami, Jacksonville, and Tampa.

@Kameeka Shirle I believe that would be the zoning department. If not, they can certainly point you in the right direction. I'd post the link to the zoning website but BP won't allow it.