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All Forum Posts by: Wes Eaves

Wes Eaves has started 10 posts and replied 259 times.

Post: Looking for Lease agreement

Wes EavesPosted
  • Real Estate Broker
  • Brandon, FL
  • Posts 283
  • Votes 64

Different states have different laws so I would advise you to have a real estate attorney in your area draft one. Pay a little now or pay a lot later! Remember court can be expensive and time consuming.

Post: Prospective Tenant has "Offense" Criminal record

Wes EavesPosted
  • Real Estate Broker
  • Brandon, FL
  • Posts 283
  • Votes 64

Call their previous landlords and find out what they have to say. Make sure you get a copy of their drivers license to ensure that all previous addresses are included and their previous "landlord" was not their mother.

Post: Tenant Screening Tip...

Wes EavesPosted
  • Real Estate Broker
  • Brandon, FL
  • Posts 283
  • Votes 64

Very good tips!

Post: S. FL REO Realty Groups??

Wes EavesPosted
  • Real Estate Broker
  • Brandon, FL
  • Posts 283
  • Votes 64

I would be interested in finding some of these companies as well. Thanks.

Post: Greetings from Rhode Island!

Wes EavesPosted
  • Real Estate Broker
  • Brandon, FL
  • Posts 283
  • Votes 64

Welcome to BP. I've been a member for a short time and have already gained a ton of useful information! There are a lot of great people and resources here.

Post: REO Field Service Company

Wes EavesPosted
  • Real Estate Broker
  • Brandon, FL
  • Posts 283
  • Votes 64

Thanks to the two "West Coasters" that provided me with the info. It is greatly appreciated!! :D

Post: REO Field Service Company

Wes EavesPosted
  • Real Estate Broker
  • Brandon, FL
  • Posts 283
  • Votes 64

I'm in Tampa, FL and am interested in working for a REO field service company (aka Asset Management Company...I think) so that I can learn the business. Does anyone know of any reputable companies that do business here?

Post: Any benefit to paying off my first place?

Wes EavesPosted
  • Real Estate Broker
  • Brandon, FL
  • Posts 283
  • Votes 64
Originally posted by "TomNoonan":
Lets say you own one house (flat out, no mortgage) for 100k that rents for 1500/month, and expenses are 45% of gross rental income, 5% vacancy... Your cash flow per year will be $9,405.00

Lets say you sell that 100k house, and use that 100k as a down payment for a $1,000,000 (10x as much) property that rents for $15,000 per month (10x as much), same 45% expenses and 5% vacancy, and you take out a mortgage at 7% for 900k, your cash flow will be $21,522.24 per year.

Also, if the price of housing goes up 5% in the area, your 100k property will now be worth 105k - a $5,000 increase, however your $1m property will appreaciate $50,000.


Not to sound pessimistic, but how realistic/easy would it be to rent out a $1m home for $15k/month...kind of sounds like a quote right out of Rich Dad/Poor Dad. I agree the logic is there.

Post: Tampa Based - New to the site

Wes EavesPosted
  • Real Estate Broker
  • Brandon, FL
  • Posts 283
  • Votes 64

Hello all. I've recently moved back to Tampa, FL. Prior to moving to Houston, TX, I lived in Tampa for 4 years. (Guess I missed the sunshine!) I've always wanted to get into the real estate business. Many have told me to become a real estate agent, but I don't think that is for me. I've technically done one RE transaction. I bought a home a couple of years ago, fixed it up, and sold it last year for a profit (not exactly a QUICK flip, but a flip none the less). I've also worked for an investor helping with SFR rehabs...that was one of the best learning experiences!!

I'm always looking to learn, especially from others who have experience in the industry. I think that one can learn from everyone, no matter what their level of commitment to the industry is.

I look forward to networking with everyone and continuing to learn!