All Forum Posts by: Trellis Alexander

@Tarica Davis did you get my message?

Any local meet ups in the area of Palatka, St Augustine, Daytona, or Jacksonville area? Or any local real estate agents in those areas willing to get together and help a brother out, or let me shadow them. Don’t be shy.

So I will be starting my Florida real estate course Monday. Any tips or insight on the end of course exam and state exam?

1.71 does not approve the 2% rule because this property cash flows negative right?

@J Scott thank you so much for leading me in the right direction. Could I use Zillow also?

How can I learn a market? Could I use deal machine?

@Scott Rogers thank you so much

@J Scott The building isn’t vacant right now. It has tenants in it. The landlord told me I could easily rent the 2 2 bedrooms on the bottom floor for 700 a piece and the one on top for 500. The one on top is a one bedroom, but it has a whole balcony on the roof! I wanted to put some work into it to raise rents... it looks rough on the outside, but there are tenants in it currently as we speak. Please interact.

It’s crazy how I used to stay in a triplex I had a dream bout the other night. Something told me to call my ex landlord and see if he was selling his triplex because I left on good terms with him. He told me he would sell it for 100,000. The market it’s in is Palatka Fl, 32177. I have 5 steps to approach this...

1) I have to keep saving my money, working 2 jobs, building credit. Paying off my credit card on time every month along with other bills. Pay collections and get the listing off my account. Once I have good credit and up to 20% of 100,000 saved up I can begin this deal...

2) I need to see how much rehab needs to be done. (ARV) then run my numbers (Cash flow) see how much are expenses. Run cash on cash return. Use www.biggerpockets.com/calc. Good deal or not?

3) Find our what kind of loan will I use. FHA, 3.5% down? Conventional loan, 20% down? Private lender? Hard money lender? Or seller Financing paying 20% down preferably? Purchase and sell agreement if he accepts SELLER FINANCING. Do rehabbing if needed.

4) Open another bank account for rental property. Put 2-3 months worth of rent in it. Make lease agreements, $5 a day if rent is unpaid. 5 dollar application fee. (Credit checks, employment checks.) Do open houses at one time for all future tenants. First and last, security deposit.

5) Marketing. Post on Facebook, Zillow and everywhere you can imagine. Advertise your property to the max. Possibly see an real estate agent, and keep growing...

This a good start? May be out of order, but I have to run the number to see if it’s cash flow positive. Honestly think it is, location is great. Next to all stores and next to the St Johns river. Please interact.

So my family owns this house next to my mothers. It’s my dads grandma house he pays property taxes on it every year, it’s vacant. Him and his brother has had a few fall outs over the house because neither agree to come to mutual agreements with the house. My uncle doesn’t pay property taxes at all but he’s basically sabotaging the house and my dad pays the property taxes every year. I think all of my dads brothers and sisters names are on the deed including my crazy uncle. I want to start off with a multi Family home, but this house could be a great way to get my feet wet without all the hard money loans and private loan confusion. Cash flow would be great because the house is paid off for with some rehabbing that needs to be done. I stay in FLORIDA, is it a dead cause for me to be able to get this house without the headache my dad think it will be? How can I legally be able to get the house without having my dad terrified of my uncle going crazy on me or anyone of us?