All Forum Posts by: Ty Coutts

Hey Miciah,

Given your situation, it might be worth starting with local investments in Phoenix even though prices are higher. Being close to your properties means you can easily manage them and stay informed about the market. Look into emerging neighborhoods or smaller multi-family units that might be more affordable. If local deals remain out of reach, exploring out-of-state opportunities could be a good backup. Just make sure to research thoroughly and consider working with a property management company if you invest far from home. Balancing local and out-of-state options might be the best way to build your portfolio. Feel free to reach out to me directly if you have any questions or need help with financing for your investments!

Hey Cameron,

I am an experienced LO and would love to connect! Feel free to DM me if you're interested!

Hey Pat,

When reaching out to the homeowner about wholesaling, it's best to start once you've got a good handle on the property's value and condition. You’ll want to have your numbers in order—this means understanding how much the property could sell for, what repairs might be needed, and what kind of offer makes sense for you.

When you do contact the homeowner, be upfront and personable. Let them know you're interested in buying the property and explain that you’re considering wholesaling it, which means you might find another buyer who will take over the deal. Assure them that this process can lead to a fast and smooth transaction without the usual market hassles.

Be honest about the property’s condition and why your offer might be lower than the asking price. Emphasize that your offer reflects the necessary repairs and the costs associated with fixing up the property. Make it clear that your goal is to help them sell quickly and easily, and that you’re here to make the process as straightforward as possible. Hope this helps! Feel free to reach out if you need help with any part of this process, or if you have any other questions!

Hey Thomas,

For the highest cash flow potential in Florida’s West Coast or panhandle, consider the following areas:

Tampa Bay Area: Cities like Tampa and St. Petersburg offer robust rental markets with steady demand. The rental yield is strong due to a growing population, a diverse job market, and a relatively lower cost of living compared to other major Florida cities. St. Petersburg, in particular, has a favorable rental market for single-family homes.

Clearwater: Close to Tampa, Clearwater has a strong rental market with attractive cash flow potential. Its appeal as a desirable coastal city helps maintain rental demand.

Fort Walton Beach: Located in the Panhandle, Fort Walton Beach and its surrounding areas offer a mix of steady rental demand and affordability, providing good cash flow opportunities, especially for single-family rentals.

Pensacola: This city offers relatively high rental yields due to its affordable property prices and stable rental demand, making it a solid choice for cash flow-focused investments.

These areas balance stable cash flow with potential for modest appreciation. Given your preference for cash flow over appreciation, these locations offer good prospects for single-family residences with lower risk and strong rental demand. Hope this helps! Please feel free to reach out directly if you have any other question, or if you would like to talk financing!

I would consider a blanket and portfolio loan as you gain more properties. 

Based on the scenario, I would start by researching construction loan options. They're specifically designed for new builds. Also home equity loans could be a useful resource. The best method often depends on your specific circumstances, credit profile, and local market conditions. Given your experience as a realtor and your willingness to bring in private investors, a combination of private money lending and perhaps a construction loan could be a strong approach.

This is a complex situation with potential legal implications, and let me preface this by stating that I am not in any position to give legal advice or any sort of attorney. As a landlord, you have signed a legally binding lease agreement, which makes terminating it challenging without proper cause. The fact that you discovered concerning information about the male tenant's past after signing the lease complicates matters. While the criminal background check came up clear, the undisclosed case that led to job loss due to inappropriate behavior is concerning. The lack of income verification and the deposit payment issue are also red flags. However, these factors alone may not be sufficient legal grounds to terminate the lease unilaterally. Before taking any action, it's crucial to consult with a local real estate attorney who is familiar with NE landlord-tenant laws. They can review your specific situation, the lease agreement, and advise on the best course of action. This may include exploring options such as negotiating a mutual agreement to terminate the lease or determining if there are any lease terms or local laws that might allow for termination. Remember that improperly breaking a lease could expose you to legal risks, so professional legal guidance is essential in this situation.

This is tough. There are a few people that would be wise to reach out to in order to get this information. Talk to title insurance companies, title curator specialists, negotiate with the buyer, and finally, consult with an attorney. This is where I would start, I would also try to utilize public records. There is always a chance that this information is already out there. I understand that this is a weird situation and there is no clean solution, but I see it working. Best of luck!

I would recommend an engineer for this project for these reasons:

1. This structural connection between the ADU and the main house typically requires engineering calculations to ensure proper load distribution and structural integrity.

2. Even for a "simple" garage conversion, there may be structural changes needed to make the space habitable.

3. An engineer can help ensure that the conversion meets all current building codes and safety standards for residential living spaces.

4. Having engineering plans and calculations can streamline the permitting process, as many local authorities require this documentation for ADU conversions.

I can't give an invoice estimate as I am not well versed in how engineers price their work, but I would assume something around $5,000 for engineering services on a project of this size.

To start your journey, I always suggest looking into a property that you can rent out to cover your mortgage payments and start cash-flowing. There truly is no better way to build generational wealth than RE investing! Please feel free to reach out directly if you have any questions, or if you would like to discuss some investments/financing. Great to have you here Ivan!