All Forum Posts by: Michelle Reid

Ha!  Thanks @austin fogt .  Good info.

Anyone with experience with student leases?  Particularly in Gainesville?

I can only picture my property being from the movie Old School.

Are you constantly fixing holes in walls?

Is it worth the headache?

I am torn between Ocala, Coral Gables, JVille & Gainesville.

Where did you find your data other than the census to arrive at your target market?

What criteria did you use to find employment trends, accurate rental rates etc?

I am looking for LTR for appreciation and avoiding negative cash flow and scaling.

@Trevor Fleck thanks for that info. The increased rent is a good sign.  It's difficult to find cash flow in these areas.

@Mary K. All good points that concern me.  Thanks for the input.  I agree now is different from 2008.  That was a perfect storm of overbuying along with a crash followed by a recession.  I would hope the next cycle will not be that extreme.

@Chris Adams great caffeine-induced info!  Thank you.  It also sounds like Ocala may be a section 8 option as well based on the types of industry.  That is an option we'd like to have as well.

@Patrick Bavaro how does the financing work during the build?  Are you making mortgage payments for the entire year?

Is anyone concerned about saturation with all the new building?  Or FL being less attractive if Covid ever ends?  I know the tax-free status and climate will remain a draw for investors and families.

@Kristin Kiddy thanks for the info.  We are thinking LTR since we are OOS, I believe that's a better place to start and build the team without so many moving parts.  I will check out the Daytona area.  What do you like about the area?  Is it a tourist area or is industry moving in to add jobs?

My husband and I live in MA.  We are looking for LTR in FL.  

We have owned a multi-family in the past and got to experience ALL the pros and cons of being a landlord.  We've seen rents DEcrease, 2+ months vacancies and the joy of getting sued and selling in 2010.  So we are really trying to minimize the pain this time by getting as much info as possible.

We are looking for income in retirement.  Retirement would be about 5-8 years down the road.  We do not NEED cash flow now but would like to avoid negative cash flow over $200/month.

Our budget is around $250 - 300k.

We are trying to decide on a market.  We have narrowed down to Cape Coral, Tampa, Kissimee, Lakeland (general areas).  The theory is to find the next up and coming market with a discount to future value.  Or is that false logic?  

What market and strategy would you suggest?  Buy a LTR in a less competetive market and scale in a year or two?  Buy in a competitive market and scale?   I know appreciation is not guaranteed.

We prefer the markets with industry rather than solely tourism for the LTR appeal.

Thanks for reading!

@Stetson Miller what do you like about Cape Coral?  How is the LTR market there?  Is there much industry or mostly tourism?

@Patrick Bavaro Would you mind sharing the turn key provider you are using?  Have you used them before?