All Forum Posts by: Travis M.

@Ryan Schickerling

Depends if you want to risk being sued personally and having all of your personal assets on the line. Although, insurance is another protective measure.

I have a guy, if you want to PM me.

Good rentals are hard to find here right now. I personally like the area about 10-15 minutes west of Mayport for cashflowing rentals. There are a lot of 1980-1990 townhouses that come on market around $140-150k and rent for about $1,200-1,400 in class B areas. That's about the best you can do here if you want to stay out of the war zones in my opinion. 

There is a reason property is cheap downtown. It's going to take a lot of months of $300 cashflow to replace that stolen AC. 

For everyone salivating for the wave of COVID-caused foreclosures, I think it's important to consider that in many states, after (1) default, (2) covid forbearance, (3) standard loss mitigation, and finally (4) the decision to file suit, we are talking about at least 1 year, optimistically, before final judgments are issued and the properties can be scheduled for sale. Additionally, many savvy homeowners know to wait the several months between when the property is scheduled and actually sold to file a suggestion of bankruptcy. This typically pushes the sale back another few months until the foreclosing lender can overcome the untimely bankruptcy.

All to say, I could see it easily taking up to two years, in many cases more (due to the backlog on judicial calendars), before current market conditions lead to a significant number of foreclosures.

 Did I imply otherwise?

I have noticed the same buyer's agent keeps sweeping properties at foreclosure auctions here in town. Could be wrong, but I assume they are working for someone with a lot of money. 

Thanks, Lisa. I actually got to the bottom of this one this week, and figured I would share to warn others: 

If you buy a probate deal where the owner passed away in the previous tax year, the tax rate reverts on the owner's passing. In my case, the seller passed in 2019 so the title company screwed up by not catching this.

Hey Casey, I am in a very similar position as you, and fortunately was able to find a middle ground with my firm by scaling back billable goals (85% with a commensurate salary cut). It might be worth looking into "of counsel" positions or a similar arrangement if you aren't ready to leave the practice altogether.

In Florida most people use the FAR/BAR form. It's a contract produced jointly between the Florida Bar and Florida Association of Realtors.