All Forum Posts by: Tarek Chehab

Hi All,

I've got a 4/3 pool home in Arbor Greene that I need to have professionally managed. I need some recommendations for an honest, reliable, property management company that will diligently screen tenants on the forefront. Need to be strong responsive communicators. Please let me know if you have someone you can recommend in that area. Thanks!

Hey Bigger Pockets! I'm looking for a property management company for my Ocoee, FL single family home. It's a single story 4/2 that I'm fixing up and would like to have it professionally managed.  What I'm looking for:

1) Strong communicators; I don't want me or my tenants to feel left in the dark. I want periodic checks on the property and not be left guessing how things are doing.

2) An honest team. I don't want to feel like I'm getting nickled and dimed or worse from expenses. I've heard horror stories about how a management teams will claim to have fixed a big ticket item but really fixed a smaller issue (IE: AC compressor when they really just replaced a capacitor).

3) Strong vetting tools; must be able to provide a background check for criminal, landlord law suits, and evictions. Credit check, and employment verification.

4) Cash flow focus; Need a team to understand that it's all about maintaining positive cash flow. Keep the property vacancies low, provide honest repairs, etc.

I will be acquiring more properties in the central Florida area, so I want this team to grow with me. 

Anyone have any recommendations for a company that may fit the build?

Thanks for the advice Judson! I'll have to shop around and ask some banks what their seasoning time is. Do you think the value of the property being so low and the fact that it's in a C-Class type of neighborhood would preclude a lender from putting a mortgage on the property? 

My goal is to go at the BRRRR strategy to build a portfolio; I just want to make sure it's feasible with the properties I'm seeking to acquire.

Hi All, I'm new to the Bigger Pockets community and am excited to learn all I can about real estate investing! My questions are about the BRRRR strategy; curious to know who's done it and any pitfalls or things to note on the fore front. I'm particularly interested in single family homes in C-Class type neighborhoods. I am looking at the price point of about 50k for my first property, maybe get an ARV of 75k. I'm in Central Florida and will want to invest in the local market.

Questions:

1) Will banks work with me on getting a refinance on a property as inexpensive as this? I'm just thinking they've got bigger deals to work on, and the risk exposure from their point of view on a cheap C class property may not be worth it to them.

2) How long would I have to have a tenant in place before I can even pitch this to a bank as a refinance? Are they looking for X amount of months?

Any advice on this from folks that have been investing in similar properties would be greatly appreciated!