All Forum Posts by: Andrew Ashby

@Wy Kay, I absolutely do, legally concealed. I carry everywhere it is legal, including my C and D class properties. I agree with the points that others have made about the necessity for thorough training. I’m ex-military and I practice regularly.

You also have to keep in mind that aggressive dogs are much more common in those rough areas, and you may end up defending yourself against one of those.

In an area like New York City, I would absolutely look into legal alternatives to self-defense because of the high likelihood of prosecution if you ever had to use the weapon. Pepper spray, stunguns, etc., although I’m sure New York City has restrictions on those as well.

I have a potential roof leak in Jacksonville, so I need a handyman who can handle a potential roof repair/drywall/plumbing problem. The handyman doesn’t necessarily have to do the roof replacement (I need tarping or some other kind of temporary fix for now if indeed the roof is the problem)....until a roofing company can get to it. Any referrals?

@Allan Rosso, yes I would have slowed down and found a job here first (I still would have gotten licensed anyway). And I did try to find jobs here and a handful of dead end interviews for positions I wasn't excited about....but would gladly take now. I made the mistake of expecting them to match or exceed my pharmaceutical pay which was almost certainly not going to happen. At this point I'd be perfectly happy taking a 30% pay cut off my former pay because my bills would at least be covered and I wouldn't have to keep touching my investment growth dollars that I'd rather be plowing into real estate. 

@Duverson Jean, I agree with @John Kent on the book recommendation and getting pre-qualified for financing first. The prequal letter will let you know how much you can pay and it will last for 90 days typically. That way, you can pounce when you spot a deal. 

@Allan Rosso, I left active-duty Navy in 2013, entered pharmaceutical sales for 3.5 years, and I've been a licensed agent since July 2017. I never really wanted to be an agent, but it was the only feasible path I saw to quit my job in pharmaceutical sales (in Chattanooga) and relocate my family to Orlando to pursue real estate full time (where we had lived initially when I left the Navy). I've since learned that Orlando has about 14,000 agents (I'm not exaggerating) and I don't particularly like being in sales (probably why pharma sales made me miserable). I despise cold calling and I'd prefer to focus strictly on investment real estate sales. I've made a grand total of $3,100 in commissions since July 2017. With COBRA health insurance running me $2,100 per month (I have a wife and two kids) and rent at $1,750 per month, I've burned through many thousands of dollars of my 401k safety net. With this safety net dwindling further and further, I've been applying feverishly to dozens and dozens of salaried jobs and I've entered the Naval Reserves for healthcare (chopping that $2,100 healthcare expense to $200 like @Seth Borman mentioned). I have my first flip underway right now just to try to generate some more survival cash (risky I know). With 5 years management experience as a Naval Officer, nearly 4 years experience in sales, a B.S. from the U.S. Naval Academy, and an MBA from the University of Florida (paid for by the GI Bill), you would think it wouldn't be too hard to get a decent job in Orlando...WRONG! The vast majority of the jobs in Central Florida are hourly paid jobs in tourism, hospitality, restaurants, construction, and healthcare. 

I know what I could do or ought to do as an agent to generate more leads...but I have finally decided that I will not make myself miserable simply to make more money in sales. I know myself well enough at this point to know that I have no business being a full time agent and that I will be happy and do well to take a decent corporate salary and continue to run my own real estate business on the side until I'm cash flowing enough that I can choose whether to work or not (I currently have 4 units for long term hold). 

If you want to live in Orlando, my advice is to 1) find a job here first, 2) get licensed if you so desire, 3) affiliate with a no-fee brokerage and continue to invest on your own. Now if you're a glutton for punishment, don't mind cold calling and/or door knocking, have the gift of gab and/or are exceptionally outgoing, and have a war chest of money to spend on marketing and your own living expenses while not getting paid for months on end...then by all means become a real estate agent. 

This whole post may sound like a pessimistic rant, but I consider myself a realist. Had I known 7 months ago what I know now, I would have found a different road to my dreams in Florida. I love Florida and I love Orlando and I am absolutely determined to make it here one way or another. 

As a fellow military veteran, it makes me angry to see so many of us unemployed or underemployed all across this country while corporations speak "feel-good" lip service about supporting military veterans while their computer systems auto-reject our job applications one after another after another. 

@Duverson Jean, welcome to BP! You're in the right place!

@Andre Silva, welcome to Orlando (remotely at least)! I see that the property you're interested in has a purchase price of $108,000 and $212.84 monthly in condo fees. Personally, I'm a big fan of the 1% rule as a bare minimum on new acquisitions. I also see that you're planning on renting this place for $1,100 per month. According to the data I just pulled from the MLS, there have been 13 two bedroom condos leased out in the Tradewinds community from the MLS in the last 6 months for an average rent of $1,030 per month (and sat for 17 days on average). Conservatively speaking, I would want to see your purchase price equation work like this: Average rent-condo fee x 100=purchase price...which is to say $1,030-$213=$817 x 100= $81,700....and that's the maximum I would pay for this property if it were me---a 1% deal. When you go below 1% you're going to make it extremely difficult to cash flow...which may be ok if you're into the whole appreciation speculation game. Also, this listing is now under contract but I wouldn't sweat it because there were no signs of distress and therefore no likelihood of a steep discount off the list price. Back to the hunting grounds...

@John Parshall, I have a Section 8 duplex in Chattanooga. Why the need to terminate the Section 8 arrangement? Are you moving into the duplex yourself? If you're determined not to participate in Section 8, you should be able to just refuse to renew the lease (with proper notice of course). While dealing with the housing authority is a slow and bureaucratic process, my experience with the tenants themselves has been pleasant so far. 

I AM YOUR BUYER'S AGENT IN THIS TRANSACTION. I AM 1) NOT THE OWNER 2) NOT THE LIST AGENT 3) NOT A WHOLESALER. 

$375,000. Renovated 8-plex in Mulberry, Florida (1 hr, 15 minutes from downtown Orlando). The property consists of four 1/1 units and four 2/1 units. All new kitchens with granite countertops. Will need all new HVAC systems or window AC units. Has been on the market for only 18 days. Market rents are $600 per 1/1 unit and $700 per 2/1 unit for a total monthly gross of $5,200. Completely vacant. Call me to submit an offer. 

@Julian Jackson, congratulations on your success! I'm in the midst of my own first flip right now.