All Forum Posts by: Mike Miller

I am looking for recommendations for a great and aggressive property management company in or near Gainesville Florida that can help getting 8units rents increased and non-paying tenants out.  I am acquiring the building.

I have noticed there are a good number of MF out there as well.  It is perfect timing as I am looking to expand my MF holdings, specifically 5+ units... ideally looking for 12-20 units.

My theory is that COVID spooked a lot of people.  My guess is that a lot of mom and pop self managed properties freaked out or just decided it wasn't worth the hassle.  I am also seeing a lot of 'proof of concept' MF available.  These are partially done and has new tenants in place, but they seem to be looking to double their money from <1 year ago.  I have ran into quite a few of those.

I am looking into the CARES rules regarding the 401k/IRA withdrawal rules without penalty. It looks like if you were financially affected by COVID you can pull out $100k from a 401k or IRA without the penalty and can split the tax bill over 3 years. In addition, if you get the money back into the account within 3 years they will give you back the taxes already paid.

They also made some rule changes regarding the 401k loans.  The $50k limit is still in effect, but payments can be deferred by 1 year.

Which areas in Tampa/St Pete are you focusing on?  I know there is a lot of cheap homes in St Pete, but it is difficult to know what they should/could be worth without the right information.

@Matt Nico I would be interested in seeing what kind of stuff you are looking at. I am in Tampa, but open to the idea of investing somewhere along the I-4 corridor if it makes more sense. I am open to BRRRR or turnkey, not so much flips.

My guess is because engineers are good at math!?  ;)  (Computer Engineer)

The 401k loan is something that I have looked into for gathering cash.  In this instance though wouldn't it flag an issue since it either needs to be a gift or seasoned funds?  BTW, I have a 401k with Vanguard (self employed) and they limit the 401k loan amounts to $50k.

Tom, how does the margin account work? Would that work for an IRA or only post tax investments?

I am trying to figure out which way to go first.  There are so many possibilities and most of the time the numbers do not work out.  SF?  MF?  Mobile Home?  Fixer Upper/Rehabbed?  Buy and hold seems to be about the only thing that I am sure that I want.

I like the idea of having multiple units with the same paint color.  It makes it easier to track and you can move paint from one unit to the other.  I personally do like the grays, but I also like the yellows (neutral yellows).

Is there any benefit to adding a little bit of trim around the windows/doors?  Accent walls?  (assuming of course it just costs time and a couple hundred dollars)

I too am starting to look for a property in the Tampa area. I am probably a couple months out, but I haven't been able to narrow down what would be a good fit. I have looked at anything from SFH to Condo/Townhomes to multi-family. I am ok with breaking even or a little cash flow as I am really looking for a relatively safe place to put money to work.