All Forum Posts by: Tchaka Owen

If you have your own unit, that's not really house-hacking. If that's the route you want, WPB is a fine place to look as you'll find duplexes and homes with additional units. If you're ok with a traditional house-hack, stay where you are....or buy in Palm Bay. The prices in most of Brevard will be lower than in South Florida and you have the advantage of people working in tech due to the booming space industry.

@Paul Tibok - Go with the FAR/BAR Lease, it is the one I prefer because it is balanced and it clearly outlines responsibilities and recourses for both sides. Many landlords in my area (Brevard) use management companies that have leases from a specific law firm and IMO are far from balanced. As a landlord I would not use them, but that's because I don't feel the need to. Florida is already landlord-friendly (and the FAR/BAR has never hindered me in any eviction). Do note that there are several versions, be sure to get the one for apartments/condos.

First thing I'd do is find out what their hesitation is, ie, what is the reason they don't want to sell to a wholesaler. You haven't shared that, is it because you do not know?

Ultimately, if the seller doesn't want to sell via a wholesaler, you thank them for their time and ask that they keep you in mind in the event that their other route does not work. Then leave.

@Bernadeau C. - thank you for setting this up, today's luncheon was fantastic and it was great to meet everyone! Looking forward to next month.

As a heads-up, Daytona Beach Shores is in the northern half of Volusia County which is also north of Brevard. You're a good 45 mins from the northern tip of Brevard.

Advice: change the title of your question from "listing cost" to "purchase price". What a property is listed at is irrelevant. What matters is the contract price vs appraised value. 

This area is certainly enjoying the boom in the space industry! That said, for accuracy it should be pointed out that none of the firms listed are headquartered here. NASA is an easy one......that's in DC. 

Correct. 

Keep in mind that each area is different. In many parts of the US, it is typical to get 1st month and 1 month security. In S. Florida, what you mention above was the norm for a while. About 5 years ago, some agents (including myself) began moving to a 1st month + 2 months security.

@Cory Lucas - since you're comfortable with your progress, what's the purpose of paying $11k for a year of it? An alternative is to get more involved in your local REIA and take a heavy-hitter out to a very good lunch. Do that with a few hitters and you're out....$500? Yet you'll get good insight into their techniques. Perhaps there's a very successful local investor, reach out to him/her. If you took the top 3 players to lunch or dinner quarterly, you'd spend a lot less yet gain a lot of knowledge. Most successful investors are willing to share their methods. Good luck!

Hard for anyone here to give you advice because we do not know what he's providing to you nor do we know what you seek. What is it you feel you're missing that he can provide for that fee?
Have you spoken with any other mentees? 

To me, that's a LOT of money to pay. But if on the backside that knowledge is going to increase your monthly intake by $10k+, it's probably money well spent. As mentioned earlier, we don't know where you are in business and what he's going to do for you.