All Forum Posts by: Mitchell L.

I would stay away from 55+ communities at all costs.. HOA fees will kill the deal every time and it is difficult to rent those on a long-term basis.. You can find them in some places for 15-20K but HOA dues are $450-$500 and the rents are only $800 there.. With vacancies, taxes, insurance, repairs.. Your return is little to none..

Why not just work with a investor-friendly realtor or search the MLS through one of the realtor's websites out there. Many agents have sites where you can search the MLS. At the end of the day, that is the place that will give you the accurate info of what is and what is not available.

Owners sometimes unload on positive income properties if they may be tired of the business, want to reinvest elsewhere or simply just want to cash-out while they feel they are getting good money for the asset. 

Good Luck!

It all depends on on the trust and quality of a property manager you have in that state.. Someone who will look out for your interests..

Smallest one for me is around 750 square feet.. Very difficult one to sell.. The average american household wants/needs a 3 bedroom 1100sq foot plus home.. You want to buy what most americans will want to live in and a small 500 sq ft home will be hard to sell one day..

I would just wholesale this bad boy or flip the deal, maybe a quick couple of thousand and move on.. Looks like a lot of work and all depends on the ARV and location..

@Brad Tamm 

 Welcome aboard! Good to see a fellow south Florida RE investor. Tons of great info on here and for networking.

Good Luck!

All depends on your area and the acquisition prices for each... Here in South FL, multi-family properties are VERY OVERPRICED so I would stay away from them unless you get a very motivated seller or one in a lot of need of work.. As a newbie investor, going with SFH or even a condo in a very investor-friendly HOA, if one exists in your area..

It's going to be tough finding one.. Were you able to get title insurance on the property?

Neither of them.. perhaps a good realtor who knows the local area and knows the true value of the house so you can compose your offer accordingly.. 

maybe lend it to a fellow local RE investor on a fix and flip and get 10+% on your money?