All Forum Posts by: Matthew Rinaldo

Thanks Nathan 

They want me to carry insurance with 1,000,000 dollars for each injury or death of one person in each accident or occurrence and 500,000 for property damage in each accident or occurrence.  Is this excessive? 

I am about ready to rent out my first LTR. I feel more comfortable with a property manager for the first one at least. The cost doesn’t seem that bad and won’t hurt cash flow that much. In the contract they state that basically I have to keep them as a manager for the full term of the one year lease. If I choose to not use them in that year I have to pay $500 fee plus remainder of the management fees. Is this standard practice?

thanks I will check facebook for the meetup

Hello BP,

I have done some digging online and have am interested in buying a couple SFM in Greensboro.  Future job growth is my driving factor.  I am looking in the southeast Greensboro.  I live an hour west of Greenboro so I am fairly close to the area.  Are there any suggestions on ways to get connected with others in the area?  Also any investor/agents are welcome to chat and talk shop if interested!

Thanks

Matt

I bought a rental property 3 bed 1 bath in a rural area.  The town population is only about 1200 people.  However it is the main/biggest town in a county of 26,000 people.  The town economy is based on tourism, mountain activities.  I bought this as a LTR.  According to rent-o-meter, BP rent estimator, and what I have seen on Zillow for rent it will gross 500 - 600 hundred a month, once I find another house as I am currently living in it.  Also I have looked into section 8 and I would gross about 350 a month with that option.  One of the main draws to this town for me was a State University about 35minutes away in a much more expensive town.  A lot of people here commute to this town for work.  I am debating on if it is a good idea to buy another rental in this market?  Has anyone has success with LTR's in rural area?  If so is your entire portfolio in rural area?  Any thoughts would be awesome!

I am looking to buy a Foreclosure on the county auction site in Florida.  I can view the Final Judgment of Foreclosure.  What do you do to ensure there are no second mortgage's / liens on the property before you bid on the property?  I don't want to buy a property and then find out there is a $50k lien against it. What has been your experience with buying foreclosures from the county website's?  

I didn't know seller financing was would be short with a ballon poayment.  This is great info to have thanks

I am also in the Jax area and wanting to buy my first rental property this year.  Small multi-family is what I have my eye on.  I have a good amount of capital coming soon.  Did you do a conventional loan on your duplex in Ortega?  How did you find it?  I have heard good and bad about section 8.  My unlce has 14 properties in Buffalo NY all section 8.  He likes it.