All Forum Posts by: Tchaka Owen

Feel free to give me a call anytime to chat. I'm on Merritt Island.

@Garrett Pettit - if you're going to work at Blue Origin, it is probably best that you consider Merritt Island, Port St. John, Titusville and possibly Rockledge or Cape Canaveral as they're relatively proximate to the Blue Origin buildings. While Orlando isn't that far, it's an unnecessarily long commute given that you have many options closer. 

@Cindy Joseph - I'm going to recommend that you provide more specific information as that may help. For example, where in Brevard is this duplex. Since you're new to the area, you might not be aware that Brevard is about 70 miles tall. A good contractor living in Mims might not be interested in a project in Grant. Also, what level rehab are you talking? 

Quote from @Michael Elder:

Im wondering if anyone out there is having success with a MTR in the space coast area of Florida. Im having trouble obtaining STR insurance after Ian, so I'm leaning towards MTR. Wondering if the area is conducive at all. Anyone in a similar situation please feel free to reach out

As a heads-up, what you refer to as MTR is what's a STR rental down here. STRs are 30 days and up.
AirBNB et al are referred to as "Vacation Rentals". That's under 30 days.

Quote from @Cindy Joseph:

Hi Cindy,

From an investment standpoint (ie, appreciation), I don't see much difference in any of them as they're all beach areas and are all desirable. To the neophyte, it's one big long beach. Think of the Outer Banks.....my first time there I was disappointed to find out that we weren't staying in Kitty Hawk, we were in Kill Devil Hills. Once I arrived, I realized it's one long beach from the causeway down past Nags Head. If not for the mile markers, you might not even know which beach you're on. Similar situation here. Where things could change for you is based on what sort of investing you plan on doing. If you're going to buy for long term rental, all those locations are good. If you're looking at STRs, not all of them allow it. If you'll narrow down a bit your objectives, I'll gladly answer any other questions. 

Quote from @Olivier M Ouedraogo:

"conventional rehab loan"

Those 3 words together should be a concern......those types of loans aren't common and who knows how much probing you will get. Go hard money. Easy, fast and get your rehab done.
 

Hi @Cindy Joseph, I am a licensed agent in Brevard and it is tough to predict what will happen in the future. Most markets in the US have transitioned from extreme sellers markets to more balanced ones. Brevard is no different. However, where Brevard may have a leg up on many places is the booming space industry. SpaceX, Blue Origin,etc are strong in the area as well as other firms that may support them such as Northrup Grumman, Harris and more. Also, this market did not appreciate to the extent that others such as S.Florida did. Will there be continued adjustment? Likely. However, I wouldn't suggest waiting it out like 2007-2009 (to be fair, this area got hit extra hard around 2012) as that's not likely to happen. Also, multi-units aren't as prevalent here as in other areas. Yes, they exist, just not everywhere. This is more of a SFH county. Please feel free to reach out with any questions you might have.

Quote from @Jacob Messer:

@Tchaka Owen firstly thanks so much for your kind words. We all really work together to make this happen. 

To your other point, i would say it depends on what you value. If you source a good deal, get it done and receive the correct return that’s good. 

but what made this deal especially great was how simple was. No hang ups, no weird stuff, just in and out. 

if I’m an investor, I can make $33k the hard way or the easy way. I think everyone can agree that even though it’s still $33k in both instances, the easy way is preferred 10 times out of 10. 

That said, I have nothing but good things to say about Mainstay! Even though I'm not in the Naptown market anymore I've maintained contact with them because they are above-board. They've put together a nice operation, are very smart about how they do business and I wouldn't hesitate to recommend them.  

Spot on, Jacob!!! 
Why make $33k the hard way? Very happy for you that it was simple. More such stories, please!

Quote from @Bruce Woodruff:

If you've spent any time in Sweden, you'll know that Ohio has a far more temperate clime.

Re Socialism - that's just your opinion. They are actually a Socialist Democracy, (meaning that they get to vote for which Socialist takes their money :-) but one thing is sure...taxes are sky high - 62% of personal income. Their attempt to take on true Socialism failed miserably in the '70s and '80s. 

Thank you for your input. My degree in Foreign Affairs says that Sweden isn't actually a Socialist Democracy. As mentioned earlier, there's a social net for the people, however it has a strong business culture that's much more in line with our market system. Their top tax rate (which isn't as high as 62%) is actually marginal; most citizens pay an income tax rate closer to 30%. Check yearly climates of Stockholm and Malmo next to Cleveland and Columbus - they're not far apart. Lastly, Scandinavians being amongst the happiest isn't my opinion. It's the results of perennial research. 

@Sebastian Warg writes, "I also want to have kinda nice weather since Sweden is like living in a refrigerator" yet people are recommending Ohio. Really? Are you looking out for him or for yourselves? 

Sebastian, you're going to want to look at the mid-Atlantic, ie, Maryland, Virginia, North Carolina...maybe across parts of Georgia. Perhaps Arkansas. North gets cold, ie, Sweden. South where I am (Florida) is hotter than most like. Same can be said for parts of Texas and Arizona. 

Something to think about: the Swedish "socialism" is more of a safety net as opposed to true socialism, which is why Scandinavians are amongst the happiest people in the world. My numerous friends in Sweden have never complained. So be aware. And good luck!