All Forum Posts by: Jerry R.

i charge both.  Listing a rental and going to the units multiple times to show it, many phone calls, emails, texts with potential tenants, running background checks, etc. Is what the 1st months of rent covers.

The 10% / month is the managent fee. This frees you from getting calls in the middle of the night from angry tenants, finding qualified contractors to get right over for emergency service, going over there yourself with little notice to deal with minor issues, etc. 

Case in point, today I've been waiting all day for a door to be delivered to an empty unit.  So basically I'm on call.  It was supposed to be delivered hours ago.  If you look ved out if state. Who would you have handle this?  Who would board up where the old door was? Would you be able to find a reputable contractor to install on the 1st of the month when the new tenants need to move in?  A good property manager can do this and more.

These costs should be included when you buy your properties and run your numbers.

insurance can vary greatly depending on several factors, age of home, will it pass wind mitigation, is it in a flood zone, etc.

Likewise the rent amount will vary. What area of town and how nice are the units?

Figure PM at 10% of rent.

Good news is rents have been rising as rentals are harder to find. Bad news is cash flowing places are harder to find in the better areas.

John, you deserve congratulations on this one.

Deals like this are extremely hard to find in Cape Coral today.   I agree that competition for these houses is pretty fierce.  

I found a great deal on a duplex a couple of weeks ago that I passed on. It seemed no one wanted it until it went to auction, where I think it went for above the listed MLS price.

HUD listings are way down in the area as well and when they do come on the market seem to be listed higher than retail.

Rentals are getting harder to find.  If yours is a 3/2/2 and not in the remote far north side, the rent can be higher than $1000/mo.  We are looking at smaller homes or duplexes that can that rent for a little less.

Listingbook here is pretty good and usually delivers the latest the day after being input in the MLS. I used it before I became a Realtor.

Get a local investor-friendly agent to get you set-up on a drip feed from their MLS too. This is all free and multiple access never hurts.

Hi Simon,

Im not doing many SFR wholesales these days. The spreads are not too favorable for most out of state investors. Lots of local investors are willing to pay much closer to retail.

I would like to help you  with multi-family properties though.

I'll send you a private message.

- Jerry

See if your area has Listingbook.  Do a search on Craigslist under real estate for sale on the keyword "Listingbook" or "free Listingbook account"

This should give you better access than the client side of most MLS systems

Hi Steve Stern,

No, not active but I watch it regularly. Still mostly investing in Cape Coral

I can attest to Punta Gorda. That's why I moved from Naples to Punta Gorda. It's a very nice town. Great rental opportunities in Port Charlotte as Kyler mentioned.

Hi Ken,

Welcome to the site. I used to live in Naples until last year. Currently doing rehabs in Cap Coral, but live closer to Port Charlotte. If you need any help that way, let me know.

There is a REIA meeting in Port Charlotte you may want to check out. I can get you the contact info if you are interested.

Hi Mac,

end me aa PM.

I am a Ft Myers investor, RE agent and rehabber. I can go take a look for you and give you my thoughts. If it's a manufactured home it might not be as bad as you think. It's on a slab which is a VERY good thing.