All Forum Posts by: Michael K Gallagher

@Lynnor Anderson not too familiar with the market or specific area but just price to rent wise considering the pool and off street parking and future added units, it seems like a pretty solid offering to me.  4 unit with a pool as a house hack sounds pretty dope!

hey @Nausher Cholavaram these look pretty good, I'm not seeing the address to give any specific feedback but if you include that in the title or post i'd be happy to give you feedback on the specific numbers. 

we generally use the digital locks from kikset but not the touch screens or the actual smart wifi enabled ones.  Those features seem to drain the battery way to fast and generally make setup and troubleshooting overly complicated in my expeirence.  The keyless entry and keypad works well with actual mechanical buttons, and then we generally have a lock box up at the property with a hard key in it if needed.  but yeah have not had great experiences with actual smart locks themselves.  

@Janet Anthony it sounds like you are interested mostly in actually owning the hard asset which is great but that is generally the most "active" form of investment. But if that's the way you would like to go then the lowest risk is going to be a newer or newly remodeled asset in a generally good area, that maybe has some appreciation in the 10-20 year time frame. Selecting your market will be interesting as I'm sure you have insights into the military and those types of housing arrangements so perhaps a niche there to tap into based on your existing expertise....but regardless to address your question you are not too late, and investing is a spectrum, ranging from flipping to buying stocks in a REIT, and it all works, just depends on your preferences and style really.

@James McGovern that is pretty sound advice that @Rod Hanks has.  The taxes and general insurance price should be somewhat simple to gage.  I understand florida is a bit of a moving target but I'd hope you could even speak to a broker that would give you a budgetary idea.   And other than that there's always asking the neighbors.  I'm sure people would like to complain about it haha.

@Pantelis Pantelides not sure if you found a solution but if you are out of state and looking to manage yourself but need on the ground help, a leaseing agent and using the platform hemlane is a pretty good way to go.  I've got several clients both local and out of state that use that method.  Its not totally hands off obviously but its a good balance between self managing totally, and a traditional PM.

@Matt Devincenzo fantastic write up and explanation of a somewhat complex topic.  Certainly helped me look at things a littler different as well.

I'd take a look at the lease, most standard leases have section allowing owners to evict or give notice if certain situations are met such as being a nuisance or repeated police calls etc, but generally taking a deep dive into the lease is a good idea, but also filing a complaint with either the city code department or potentially the section 8 office could be helpful also.

idk maybe i'm odd but I just do that anyway...at least cary them through the house to the basement or something if I need to get down there.

@Giovanni Javier great write up!  thanks for putting it together and sharing, so often mindset is the biggest barrier to this or any journey. you seem to have a good mindset around what it will take and the consistency involved, just hang onto that when the shiny newness goes away.