All Forum Posts by: Lucas Dubs

I'm currently living in a house in Ocoee and house hacking it. I intend to buy another property in a year, and move into that one to house hack as well. When I do that I will be looking for a property manager to take over management of the first property. It's still early but I like pre planning as much as possible. If this interests any of you lovely PM's feel free to reach out for details or a meetup so I can pick your brain about the area! 

@Alex Grosvenor

Those are all great questions!

I’m already living in the house on terminal leave with 3 tenants on lease and another tenant starting their lease in December. This leaves one spare bedroom for family and friends to come visit me. I do all the lawn care myself, I pay utilities and charge $50 per tenant a month for utilities. The lease I’m using is from the bigger pockets website. After reading Florida’s landlord tenant laws the lease seems perfect and everything that is required is there plus more!

Investment Info:

Single-family residence other investment.

Purchase price: $333,000
Cash invested: $15,331

I bought a house with an FHA loan and I'm house hacking it. I rent out rooms in the house just enough to cover the mortgage. Sellers paid closing costs all I paid was a down payment and $4,485 to re plumb the entire house because it had polybutylene pipes. I plan on putting in a bunch of sweat equity into the property before I sell or move. Right now it appraised for $339,000

What made you interested in investing in this type of deal?

House hacking seems like the best bet for me while I transfer out of the military and start going to college.

How did you find this deal and how did you negotiate it?

My girlfriend lives here and works as a personal trainer. One of her clients is a real estate agent and they became close. I used her to find properties and facetime me for walk throughs while I was still stationed overseas. The negotiating part was simple due to the sellers being extremely easy to work with. Anything I wanted included with the house they agreed to.

How did you finance this deal?

I used an FHA loan with a Co-signer. I would have rather used a VA loan with 0% down but because I'm getting out of the military and have less than 2 years experience as a property manager not much of the income I'm making could qualify for a loan.

Does anyone have a preference on what website or company they use for background checks on prospective tenants. I have one room available at my house I’m trying to fill and don’t know where to start looking to get a good In depth background check done.

@Alberto Nikodimov

Thanks for reaching out! I actually downloaded the lease agreements from BiggerPockets that I will be having my tenants/roommates sign.

@Christopher Smith

Thanks for reaching out. I planned on having it set at $50.

So I’m closing on my first house in a couple weeks in the greater Orlando area. I’m gonna be house hacking, so I’ve been reading the landlord tenant laws for Florida (chapter 83 part II). I can’t find anything about late fees in there. I know in some states there is a cap on what you can charge for late fees and how you have to do it. Does anyone know or can point me in the right direction for the answer as to what I can charge someone after the rent is late and if there is a formal way of charging them that late fee?

I'm getting out of the military soon and I'm looking to buy a house that I will live in and rent out while I go to college. I planned on using the VA loan so I could put 0% down. The problem I'm running into is my lender won't consider the rent I will be getting from the house or my Post 9/11 GI bill BAH(basic allowance for housing) as income I can claim. I have great credit and $90k in assets. Anyone have some creative financing suggestions?

Brand new to the game looking to start investing in southern Maine. Currently waiting for COVID-19 to settle while I build a team of reliable advisors to aid me on my journey to financial freedom. I am looking for referrals of CPA’s, real estate attorneys, and any other professionals you think I should associate with in southern Maine.