All Forum Posts by: Scott Schuetz

Tanks for the welcome guys.

@christopherschmidt I have done flips just beachside, Indialantic, Satellite and Indian Harbour beach

Thanks for the explanation Matt, I do use the same calculation but I call it $10 per thousand, the 1% rules sounds much better.

Unfortunately, there's not options in my town where I could buy something for $120k and rent for $1800.

Thanks Andrew- townhouses and condos actually do well here at the beach. This propery is just about 1 block from the ocean. I'm still getting used to all the terminology here, what do you mean by rent/cost is at 1%?

Townhouse listed for $129k, I think they will come down to about $115-120k. I just viewed it, it's move in ready. Rent will be $1100, HOA $250, taxes $1200. The retail value is $145k or more, but... The legal description is a condo and there are only 4 units. None of the units are owner occupied so there is no bank financing available.

The numbers almost seem good for a buy and hold but it would deplete all my cash. Thoughts??

New to the forum. I've been small time buying and flipping for the past 6 years, 1-2 deals a year. I have a couple long term rentals too. I also work full time as a realtor.

One of my clients told me about the site. I've enjoyed reading so far and looking forward to learning lots from you guys and of course giving back when I can.