All Forum Posts by: Michael Myers

@Ryan Murdock, good questions. I'll have to consider the headache involved with finding a new manager and/or negotiate the rate down for the next tenant. 

I've never had to deal with this before with any property managers.  The current one that I have charges a $25/mo incidental insurance fee for evictions and things involved with that process.  This is on top of the 10% fee for monthly service.  So far I haven't had any issues with the tenants but they plan to move after the lease is up.  This may be an opportunity to find another manager.

Is this common this day in age?  Good thing/bad thing?  Has anyone been able to capitalize on this insurance?

Thanks for the notice. I'll keep you in mind if I want to invest in that area again. I recently sold a rental SFR in Cibolo that I owned for 10 years. Looking at the market now, I probably should have held it a little longer before I sold.

There's a great book to give you some insights on that. "Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties" by David Greene.  I'm reading it now on Audible.  It highlights that this day in age we should be able to leverage the technology at our disposal to buy down the a lot of the risk of investing out of state.  

If it's a hobby, intermingling funds is not necessarily bad with one or two properties.  If you are getting serious with the business side, each property is a living thing and should have it's own account.  

Thanks for the heads up!  I saw that earlier this afternoon, but it didn't dawn on me that it would affect us here as well. I'll keep an eye on the market for my near future deals. 

Sounds good with me. 

The weekday lunch hour within minutes from Patrick AFB is probably the best time and place for me.

Brevard county is a big place and I'm sure there a many deals to look into.  

Do you have any numbers?  Mortgage, taxes, insurance, etc?

I've been a part of Bigger Pockets for a couple months so far but I never placed an introduction. 

I'm currently in Melbourne, FL, but I'm in the military so I move around every few years.  I find this as an advantage since we have the opportunity to sample many markets first hand.  

I've gotten creative when it comes to financing with no money down. I currently own three single families. Two, which I acquired through VA and FHA financing. My current home was financed with a Navy Federal Credit Union Military Choice Loan. I plan to rent or sell this property when I move again.

Anyway, thanks for reading and I look forward to working with you all to uncover whatever our dreams get us to.