All Forum Posts by: Aristotle Kumpis

My colleague has been buying and selling turnkey homes in South Bend for the past year. The rental market is really good, and rents are 1% of what he's selling them for. I think a lot more younger college grads are sticking around and it could be helping the rental market.

Got it. We have a few brand new construction projects in Florida. One is in Jacksonville, which is 48 units, comprising of 4-plex's. Build to rent model. And the other is in Ocala, which is 60 units, comprising of 4 buildings with 15 units each. Let me know if you want more information. Send me a message. 

Using a HELOC or doing a cash out refi is a great way to use the equity in your home. Many people do that in order to buy more real estate. You just want to check with a lender to see what is better for you. I personally prefer a cash out refi because you get the cash out and your done. A HELOC usually has a due date of 10 years to repay it. And if for reason you don't have enough equity to refi and pay it off, or something negatively happens with rates, then you could be in a tight spot.

What's the minimum amount of units you are looking for? And are you financing?

It all comes down to who is going to manage it. Make sure they require all owners to sign at least a 2 year agreement. That way, owners don't jump ship and screw with the rents. The last thing you want is owners under cutting each other. I personally prefer buying an infill lot compared to build to rent. I

It depends on what the other homes in the neighborhood are like. Do they also not have garages? If not, then it's probably a common thing there. I own a few homes without garages and they rent just fine. It's same thing as bedroom/bathroom mix. Everyone thinks a 3 bedroom is better. But if 50% of the homes in the area are 2 bedrooms, then that's what people are used to.

Hi Ankush. Its a pretty solid market overall. We have a company there that has been working with our members for over 12 years. They offer mostly SFR's at a good price. They also manage over 1500 units as of now. If you are interested in getting their information, I am happy to connect you. Thanks.

How much capital do you have to work with? And do you have enough working capital to invest in real estate each month? 

What kind of negative cash flow are we talking about here? If it's -$100/month, that's probably something that will change over the next year or so with a rental increase or refi. But if it's much larger than that, maybe you consider selling and doing a 1031.

I have a friend that owns several older homes in Tampa. And they were doing well up until recently where they are now -$200/month in cash flow because of insurance costs. It makes more sense for him to sell them and get into something new that will at least break even.