All Forum Posts by: Aaron Cooper

Hi All,  I am interested in looking to purchase 1 or more property management companies in Jacksonville, FL.  If anyone knows of any for sale please let me know.  Also if you are an agent and are managing a group of properties I would be interested in speaking with you.

Thanks Forum!

I am a small real estate investor in Florida and I really only invest in small multifamily and single family homes.  I am thinking about buy a vacation rental and I am wondering if anyone has had any success with vacation rentals.  My dream is to profit from it but use it for personal time during slow seasons.  Any thoughts or experiences would be very helpful!

Yes you can via a 203k loan and it doesn't have to be a property your living in. I used a 203k loan to purchase a 4plex that I purchased as investment only. They still require 25-30% down. The va actually has a 203k loan as well but there is only a couple of companies who do them.

There are lots of options.  First do you have a rental home now that you have had for 2 years or more? Basically you need to show you have been a landlord on tax returns for the banks to use the income from your rental homes towards your Debt to income ratio when qualifying a new purchase.  If not there are still options, but that will give you the most money and options.

From there I would recommend getting prequalified with a bank and see what they are willing to loan you for a new purchase of an investment home based on your current financial situation.  It maybe 10,000 or 200,000 either way you know your budget to work with.  Once you have that you can figure out a price point you can invest in and drill down from there.

@Rodney Watson do you think you could get additional funds by getting a mortgage?

@Ryan Hammers I will have to look up the company here in Jax but a typical house staging costs $2500 for 90 days and if you need more it's about $650/month

http://jaxreia.org/

This is the one I belong to and attend periodically 

Hi Rodney,   I am a member of JaxREI its ok, thats about it.  There are about 100 people or more in the group nice people but I think 3/4 of the meeting is spent with "guest speaker" who is a get rich quick scam program.  I have walked out of 2 meetings in the middle because I could not take it any longer.

Yes I JWB is a very good company.  Their model has changed over the last 3-5 years and they are basically collecting a large number of homes that they own with investors getting monthly dividends then they plan to sell the block of homes to a large hedge fund like company.  At least that was the plan last I spoke with them.  Overall they are a good company and do a good job.  You do need a good amount of money to start out with them, I think it was $50k but Its been 2 years since I have spoken with them.

I am an investor and own a property management company.  I am expanding my company and I am just starting my search for an assistant property manager.  You do not need a real estate lic, just the desire to work hard, be dependable, and a faster learner!