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All Forum Posts by: Peter Philando

Peter Philando has started 19 posts and replied 145 times.

Post: Flooring Recommendations for SFR Rental - all areas

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92

Glue down vinyl planks, they look awesome and I found some at Surplus Warehouse for about a buck/sqft. I even put them in a flip 1040 countryside Ln, Montgomery, AL 36117. 

Post: Dothan & Enterprise Recommendations

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92

Hello All,

Looking for recommendations for property managers, contractors, and a great realtor. How is the rental market in Dothan? What areas to avoid? BTW, how is Dothan pronounced .... with a long or short "O"?

Any help is highly appreciated.

Post: How important is a bachelors degree as a real estate investor?

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92
Originally posted by @Joe Villeneuve:

This is the funniest post I've seen yet.  Most of the answers found here are proof of today's "Instant gratification" world.  A big problem with it is there is no appreciation for the process, and what connects "what you want", from "where you are".  This ultimately ends up in an inability to solve problems...mainly because it's hard (I'd say impossible) to even recognize the source of the problem.

The most important role of formal education is not defined by the major you are taking.  The most important role of education is to "learn how to learn"...how to problem solve.  The most important classes to take are math classes.  The higher, and more difficult math classes train the brain to multitask, and to recognize the difference between the problem and the symptoms of that problem, because it trains the brain to see that "connection" I mentioned above.

Formal education may not teach someone a lot about REI directly, but there is more to the world than just REI. Learning how to deal with other people, how to write proposals and letters, how to use software. I'm self trained on Excel. It would have been easier if I would have been taught this in school. However, it was my training in school that trained my brain how to learn "outside of school". So I guess indirectly, school did have an impact on my ability to learn this.

School teaches us how to relate to other people. It teaches us discipline. Actually, that too relates to REI...in many ways.

Last thought:  Most of of everything you learn in life, you learn outside of school.  However, what you learn in school, sets the groundwork for your ability to grasp everything you learn outside of school.

 Dang, you said that so much better than my post, but the sentiment is the same. Did you learn how to articulate your thoughts so well, from going to college ............alright, just kidding.

Post: How important is a bachelors degree as a real estate investor?

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92

How important is a bachelor's degree in real estate investing? Directly ... not important, however, neither is high school. As someone mentioned before, its good to question the cost in today's market, but a STEM degree would be good especially if it's free. I don't know where you're in your investment journey and what your end goal is. Some people are passionate about a particular field and love working in that area and for the most part, a degree is usually required. There are intangibles from working and grinding through 4 years of college and finishing .... some people don't give enough credit to the journey on the road to success. Bill Gates dropped out of school, but it wasn't high school, it was college. It's in these environments where a lot of light bulbs go off (intangibles). We talk about the easy it is to access information and software programs but 99% of all these things are created by degree-having software/hardware engineers, system tester, etc. All real estate investors want a great degree-having attorney and CPA. Many develop the discipline that they are demonstrating in their investing career because of going to college and even working in the desired field, they just don't give enough credit to the PROCESS. 

Post: Finding foreclosure auction results in Alabama

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92

I mainly investing Montgomery, Prattville, and Millbrook. I would like to know how to look up the result of foreclosure auctions, whether from property tax, mortgage default, etc. As always, any and any help will be highly appreciated, Hooohah

Post: Investor out of South Florida

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92

Welcome to BP John!

Post: Property Management Company in Montgomery, AL?

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92

PM me and I'll tell you who NOT to use. 

Post: Recommendations for Property Manager in Columbus, GA

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92

Looking to expand my rental portfolio into the Columbus, GA / Phoenix City, AL area. I want to start with some really good PM recommendations. Any help, as always, is highly appreciated.

Post: Investing in Montgomery, Alabama 36108, Good Idea?

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92

I have a few rental in MGM. I basically stay in 36109, 36116, 36117 zip codes. 36116 is pretty big and not all areas are good, for instance most people warn about Woodley Park area in 36116, but I would get rentals there (cheaply of course)

Post: Charlotte Section 8 fair market rent

Peter PhilandoPosted
  • Rental Property Investor
  • Hollywood, FL
  • Posts 155
  • Votes 92

I don't have any section 8 tenant as yet, but the HUD link from @Chris T. is extremely useful. To find out the fair market rent for an area I use several sources: 

  1. Rentometer - This is fairly accurate and simple to do. I believe you get 3-5 free lookups before it prompts you to pay.
  2. Trulia - I select RENT, then type in the city/state and zoom into the area of the property. You can see what other properties on the market are going for. You can also see what product other landlords are putting out.
  3. Property managers - You can call up a local realty office and ask to speak to someone from Property Management. You can get some very valuable information here and somewhat prepare for when you need to hand off this responsibility to someone else.