All Forum Posts by: Colin Reid

@Luke Rorech, I'm basically looking for the same things as @Amber Stout, in St Pete, and Gulfport, maybe even over into the beach towns.

I haven't dealt with it indoors, but I have one property with asbestos siding. The Home Inspector noted it, and said as long as it's encapsulated (painted) it's good. That's in his report, and the insurance company and lender didn't bat an eye at it. I'm living in the property right now, so I'm not concerned with it, other than maintaining the paint. From the small amount of research I've done, asbestos is actually an amazing material, very durable, great insulator, other than the pesky cancer-causing part. If I can safely keep that siding, I'm going to.

Hi Craig. I'm also in St Pete and I've looked in that area myself. Lots of potential there.

I agree with what @Amber Stout said. Just want to point out that cashflow= profit, not gross rent. I think your gross rent will be $2150 when you move in. Honestly, that's not bad, paying $100/mo out of pocket to live in that area(over simplifiying). After you move out, they look even better. $3600/mo gross rent almost makes the 1% rule.

What tool are you using to get these numbers? I have a few tools I use, including the BP Calculators here. Try running your numbers through the BP calculator and see what it looks like. Good luck!

I'm over in St Pete. I have SFRs in other states, but I have my first Duplex-hack in Grand Central, and looking to scale.

Thanks! I'll check them out!

There are definitely better employers out there who are much more open to side gigs. I'd say at least half of my coworkers have a second job, side business, both, and some more than one business. One employee even had a side business that had a contract with the company. It's all very open, and as long as it doesn't impact our primary work, no one cares.

 One of my PM's used to just knock on the door, without notice, with an HVAC filter in his hand, and ASK the tenant if they minded him changing it. Not a full inspection, but a way to get a look inside (or a sniff), without advanced warning, and without violating the lease. The gift was the air filter, since the tenants are supposed to change those.

 Asked and answered. Thanks!

No, I am not very familiar with the "drug world." I'm all for legalization, but I've never used anything stronger than alcohol, and don't plan to. But gun fights and blood stains definitely count as "property damage" I don't want.

Serious question. Let's assume for a second that the tenant is in fact dealing. Is the owner/landlord exposed in any way should the tenant get caught?

I've never met any of my tenants, so if they're slinging dope out of my house, I'd never know. And as long as the rent comes in every month (it does), and they're not damaging my property, I'll never care, either.

Cash is king right now. I'm saving as much of my own cash as possible. My units are all paying, but with the crazy economy right now, I want to be prepared for rents to stop.