All Forum Posts by: Matt Leber

@Launi Shapiro I’m not in Lakeland but I’m nearby in SE Orlando. Just saying hey!

@Cassie Jones my wife and I use the Chase Ink Business Preferred for our business expenses. It gave us a nice points bonus for travel use through the Chase travel portal. I believe the points were about a $1500 value. We also use the Chase Sapphire Reserve, although that one is not a business card.

@Jacob Walls I have a couple rentals in Brevard as well in the 32904 and 32927 zip codes. I still monitor those areas and see deals from time to time.

@Robert Darling good luck! Hope you are enjoying the West Palm Beach area. It’s where I grew up, love it down there.

@John Hunt time and lifestyle. Don't let lifestyle inflation creep in when you start your career and start earning real money. Keeping your lifestyle simple and low cost will greatly help you pursue your goals in REI. The time advantage speaks for itself. I started at 23 and wish I started even earlier.

@Kyle Jensen great job! My wife and I have a couple properties in Jacksonville near there near Normandy and the Herlong Airport. Awesome for the neighborhood!

@Amber Scavone there is no guarantee we are at the top of the market. Anyone who has a definitive answer about that is speculating. However, in the event that there is a downturn, I’m not worried about my duplexes. They are affordable housing and there will always be someone looking for an affordable roof over their head. Demand will always be there as there is seemingly a shortage of these property types. I would have to see a drop in my rents by quite a bit to be worried, as even then it wouldn’t be crippling. As long as you are sure of the deal and your numbers, I think small multis in the affordable housing category will be pretty solid even in a bear market. Appreciation is not the goal in this asset class.

@Molly Plude I run my cash flow analysis with all of those items included in my expenses for each month. This, it makes sense to escrow them for peace of mind. Just because you don’t escrow, doesn’t mean your cash flow is higher. You still have to account for all of those expenses. If you choose not to escrow, you should still lump aside your allocations for those items in a holding bank account. If you don’t and you have trouble tracking it, you could end up with a cash crunch at year end. Just my opinion, saves headaches.

@Lee Castro being in a flood zone can require you to get expensive flood insurance. We have backed out of properties that we learned were in a flood zone. That insurance cost can really eat up cash flow if it’s a rental. If it’s a flip I would be less concerned. Although potential buyers may balk at this.

@Elvis Sosa you don't have to live in the property if it's conventionally financed. Only FHA requires you to live there for a certain time. We conventionally finance our rentals (so far) and have put 20-25% down on them to avoid PMI.