All Forum Posts by: Mitchell L.

Yes, 200K for a duplex may be OK if it is (2) 3/2s in a good area where you can rent it for $1250 or more but not now.. These type are going for 300K... Good Luck!

I'm a local realtor and investor so I'm familiar with the market and in some places, the cash flow is great while others are not the case.. What cities or parts of the cities are you seeking at the properties.. Anything near the coast or East of US 1, you can forget about the 2% rule... You will be lucky with 1%... Also, multi-family properties down here are Overpriced right now!!

Welcome @Ivan Rubio

This is a terrific site for informational and educational purposes along with networking. I recommend you join a local REIA and start learning the business from fellow local investors. As you are in the same area as me, check out BREIA and look into attending one of their upcoming meetings.

Good Idea.. You can always tell your tenants that your are coming to do a preventative maintenance check (ie. change/check a/c filter, test smoke detector, etc.) and in reality check out the unit..

Go to your local REIA, meetup group, any gatherings where there are large amounts of people and give out your business cards. As they say, you have to spend a little bit of money to make money and it will be tough to get wholesale deals coming on the lap if just sitting in one place... Good Luck!

You have to practice what you preach. An agent that works with investors should be an investor himself or have extensive experience flipping, landlording, etc.. It's hard to get people to believe in you, the process and investing as a whole if you never did it yourself or have no track of experience behind your words.

@Trevor Rutherford : If they pay on the 2nd or 3rd, no late fee.... it starts at $50 on the 4th onwards

Good point @Trevor Rutherford but I do a $50 late fee on the 4th-6th and $100 on the 7-9th and 3day notice on the 10th... Keeping the fingers crossed by I get the rent before 1st every month so I haven't had to enforce the late fees but I agree with you!!

If your lease is clear and you are strict with your late policy, there is no need to text them to remind them of their rent payments. I have never sent a text to any of my tenants reminding them to pay rent... The only time I would consider doing so is reminding them that rent is late on the 4th and the late fees are now kicking in and again after day 10 that the eviction process will begin... Good Luck!

It all depends but cash with no contingencies and quick closing is always preferable to financing, especially in todays market with financing and appraisal issues we all face. There are many factors that go into this but if you do submit a finance offer, try removing at least the inspection contingency and put in 20 days or less for loan commitment.. That is the only way you may have an edge, otherwise CASH is KING.