All Forum Posts by: Tyler Gibson

@Dieter W. Theresa has some good points. I would add that you can use cozy.co to manage the property. I believe that it has the ability to market on the big sites like trulia, zillow, etc. Craigslist and facebook can work well. A yard sign can do the trick also. Since you will be dealing with people you don't know make sure to do a credit/background check. 
The quality of your returns is predicated on the quality of your tenants. Cozy.co has functionality for people to apply for your property and do the background and credit check through there. 

@Wendy Lavana You could look for a place similar to what you are going to build to see if there is a bunch of inventory. Additionally you can look on rentometer near the lot to see what the market rent data suggests. 

@Jackie Martinez I am a investor and Realtor here in Orlando and I would say the best criteria for selecting a market is knowledge. If you know the market you are investing in you can be successful regardless of high or low prices. The same hold true in reverse if you don't know the market there is a good chance you will lose money regardless of high or low prices. If you ever want information about the Orlando rental market drop me a message and I would be happy to help. 

@Larry John I am an investor and realtor here in Orlando. Send me a message to connect and I would be happy to provide you any insight I might have. I know that there are some strict restrictions for STR in the city of Orlando. So what is best may depend on the neighborhood you find a deal in. Lets connect for more information.

@Tom Bamberger See my response in your other post. 

@Tom Bamberger I think we are probably some where in the 7th inning. The reality is that if you can find something with positive cash flow Orlando is a great market. There are people moving here by the thousands every year. It can be challenging to find a good deal but it is not impossible. The key is having the ability to react quickly and get something under contract as soon as it becomes available. I am a realtor and investor here in Orlando and would be happy to help you in finding a property if you would like. Send me a message to connect. 

@Robert Carlson There are still opportunities in Orlando. I am an agent and investor here. Send me a message to connect. 

@Scott B. I would ask the attorney if the caregiver could file a quiet title action? This might allow them to gain full control but it is essentially a lawsuit against the other people so it might not go over smoothly but I would think that paying the taxes for that long would provide some legal grounds. 

@Tristan Colborg I did this with a property in Daytona. I think it is one of those questions that people will have a difference of opinion on. I told the PM I hired that this was one of the things I was looking for in a PM when I interviewed them. My PM was a rock star and did a great job. That being said they charged me a fee for this service. Additionally I called every week and asked questions about the timeline. I went out and looked at things once or twice and simply notified the PM that I was on my way. I did this not because I didn't trust the Pm was doing the right thing but because it is my job to make sure that things are happening and the pop in ensured that my PM new I had my finger on the pulse of things. At this point I don't feel like I have to check on my PM but they have proven to be trustworthy. I still call and check-in from time to time even thought it is mostly on autopilot. So I guess to answer your question it is possible but it will depend on if you think the PM can do it. Then you will need to figure out a way to hold them accountable and verify what they tell you is true until you have developed a relationship where you trust them. 

@Ryan Tessier I'll be the first to jump in. I am an account manager for a large payroll company. I work specifically with a software solution the offer that is meant to help companies measure and increase employee engagement. I have only been here in this role for 5 months and it doesn't help or hinder my investing goals. My last day job was working as a project manager for a software company the made and sold and supported software that county governments use for recording official records like deeds, mortgages, liens, judgments, etc. They also made and sold a software that handles the tax deed process form the governments perspective here in Florida. I was with that company for almost 5 years and it did help me with my investing simply because I came to know that all the information about a piece of property is online and available to the public typically for free. You just have to know where to go look for it. I also learned a great deal about Tax Deeds in the state of Florida. 

I recently got my RE license here in Florida and am working to pivot into that full time but time will tell. I have a good gig and a  family to support.