All Forum Posts by: Michael Stokes

Hello everyone, I am looking for lenders that have investment loans under 8% on a 4 family with 20% down in Missouri.  The loan can be conventional or other option.  Happy to provide any other details that may be helpful.

Thank you, I appreciate the feedback, and that helps a lot to understand why I was having such difficulty finding anything! :)

I saw your YouTube videos and will give them a look.  Looks like some great content for someone like myself that is potentially switching over to MHP investing.

Hello BP Team, I am looking at potentially expanding into MHP investments. As I am evaluating deals I am trying to get a sense for how the current rents compare to market rent, but have not found a good tool or website to accomplish this. For SFH or MFH I typically look on Facebook marketplace or check Rentometer.com, but neither of those seem to be turning up any results. Do you typically contact local property management companies and ask them for typical rents?

Thanks in advance for your help!

@Sandrine Li I never ended up investing in Orlando. A lot changed since I first wrote this post actually. I ended up with properties in TN and AL and I am 100% self managing. I couldn’t find anything in Orlando that had returns that were comparable to those other markets.

With that said the appreciation and bidding wars in those markets is insane right now, and I did start lightly looking into Orlando again. I am trying to focus on larger properties in STR friendly neighborhoods and ideally want it to be rent ready (or very close) when I close.

Have you found any specific communities that you are researching?

Any Orlando Real Estate Agents on this board that specialize in STR in the area(s)? Would love to connect if so.

@Gary Edmonds

Makes sense, thank you!

For move in I assume the doors are kept locked? Is it common to use a coded padlock so the tenant could move in immediately (after the code is provided) and they just lock the padlock up somewhere for the remote manager to pick up for the next time to store? I was thinking it would be simpler to have the part time worker always just come once per week to handle any tasks, so lock outs have to wait to get unlocked but wouldn’t want to make move ins wait if they paid up.

How are you guys handling the padlock side of remote management? I was just thinking through the logistics of having someone like a landscaper or retired person managing the move in and lock out and how it would work if there were individual keys for each unit? I am sure there is a simpler logistical way this works but I haven’t quite figured that out yet!

Thats a good question.  In my research I have found companies that can act as a call center as part of the software they offer to handle gate codes, leases, etc. but I haven't stumbled upon a company that offered boots on the ground.  Would be interested to hear if they exist as well.

@Zach Quick.  Makes sense, thanks for the advice, I appreciate it!

Thanks, @Zach Quick, that is helpful.  Some of the properties I have observed do not have gates, is that something that would generally cross the property off your list for being a good candidate for remote management?