All Forum Posts by: Matt MacDonald

Ali, I have worked in real estate and property management for 15 years in Jacksonville FL. I'm working with a buyer right now that's looking for similar properties. There's some opportunities down here, but they do go quickly sometimes. I will send you a message with my thoughts. 

Just off of the top of my head in Jacksonville FL I had to get my real estate sales person license first and then my brokers license, corporate license through the state, local business license, set up the LLC, get a office, get MLS, liability and E and O insurance, set up multiple bank accounts, marketing, etc. There's a lot more I'm sure I'm missing, but that is some of it.

@Joseph Henderson  I've lived in Jacksonville for over 25 years and have worked in real estate here for the past 15 years. Some of the zip codes I like are 32225, 32246, 32224, 32233, 32277, 32216, and 32211. Feel free to message me with any questions. 

Armani, you can check with the HOA if there is one. You may also want to check local rules with the municipalities. In addition to the above you can also ask your Agent if you are buying a home through an Agent & you can also ask the closing attorney as well.

The inspector made the suggestion to install it. We have to do a little WDO work & the vendor is going to do the anti tip for $25.00 since he's going to be there for the WDO work. Some people are not aware that they should check for the anti tip on the stove. 

I was working with a couple that was selling their home here in Jacksonville Florida & we received the home inspection back & there was a list of items & one of the items was install anti tip bracket on stove. The husband said I can handle that it will take me less than 10 minutes. I told him part of my job as a real estate broker is to protect him. I told him we need to hire a licensed & insured vendor to install the anti-tip bracket in case god forbid something happens we can say that was done by a licensed & insured vendor & here’s their information. This way the owner does not have a possible legal issue in the future in case something happens. If you are a Landlord or seller it might be a good idea to see if your house has an anti-tip bracket on the stove & if not it might be a good idea to have a licensed & insured vendor install one. I hope this helps.

Eden, most of the time people are open to sharing what they’ve learned. Kind of funny some of the best people I’ve learned from taught me about real estate without making it obvious. I remember when I first got my license, I met an investor that had been an investor for over 40 years & I was trying to figure out some numbers for him & he said what’s the price per square foot? He said that’s a good way to do this & we did it like that in 60’s, 70’s & 80’s. Then I was selling one of his duplexes & we had an offer & he said counter back with them paying all my closing costs & I said they will not do that & he said give it a try. I did & they accepted it & he said see just about everything is negotiable in real estate. The past 6 years I was a Senior level manager & I liked teaching employees. It’s rewarding to the mentor when people appreciate the mentoring & when they smile & say thank you. I opened my own real estate company & here’s some advice. Have cash & lines of credit available before you open. Make sure you have all your licensing & corp set up properly. Look into prepaid legal in case something happens. Have insurance to include errors & omissions. We live in a litigious society, so you need to protect yourself. Network & have connections before you open the company. Marketing, marketing, marketing, you have to constantly focus on growing your business. Get a little office. Work hard & treat people fairly. I’m sharing this with you, because when I was trying to open my company I had a hard time getting this kind of advice & it looks like you are interested in opening your own company some day. 

I’ve worked in real estate & property management for the past 15 years & most of the companies I’ve worked at the management company keeps the late fee. I now own a real estate company & management company in Florida & my management agreement states we keep the late fees. I disclose this up front in the management agreement this way everyone is on the same page prior to us entering a business relationship. It may vary by company, state, City, etc.

When you start out having a good attorney that you can reach out to that does not charge you for calls & questions is a big help. I’ve worked in real estate & property management for the past 15 years in Florida & I see the value with a property management company. To me it’s good to have that buffer between you & the Tenants. Also, the property management company should know how to handle just about all the issues that may come up. As far as leases go, I recommend you have an attorney give you a lease or have an attorney review your lease. I recommend to my owners/customers that we do not allow pets due to the possibly of a dog bite or damage. You also want to make sure that you can rent the home out to Tenants. I have seen situations where someone buys a home & there’s a clause where the home cannot be used as a rental. I also recommend home warranty’s to owners, but I tell them to find a good company & ensure it covers electrical, plumbing, appliances, etc. Jacksonville Florida is a good market where I’m at we have 2 Navy Bases nearby, a Coast Guard Base, the Mayo Clinic, CSX, etc.

Eric, down here in Florida I go to some property management & real estate classes & I’ve found some great attorneys that will give Landlords free leases. You may want to do some research online & call a few attorneys & ask them if they are willing to give you a free lease. Sometimes attorneys will do this, because they feel like you may use them if you ever have to file an eviction. I would want my attorney to sign off on any lease I use prior to using it with a Tenant.