All Forum Posts by: Sky Mikesell

Hey Brent  good to meet you .. Sky Mikesell here based in Charlotte NC. 

if this is a foreclosure sale then most states allow for an accelerated removal process of any stay over occupants. .. when i say accelerated that means it is faster then traditional eviction proceedings.     If the property is NOT a foreclosure then you will most likely be dealing with traditional eviction process.

In either event i would contact a local attorney that specializes in evictions. 

good luck, take care,

Sky Mikesell

Hey Steve- 

 i was just in houston not long ago.. your city is huge.    We have always had a no acceptance policy on any of the dogs on the insurance list. 

One trick our prospective tenant love trying to pull when we ask the question... what kind of dog do you have ... their response is  a "stratfordshire terrier" which is the akc name of a pit bull! 

 haha cute nice try tenants. 

take care Steve-

Sky Mikesell

Hello Arthur-  Sky mikesell  here...  hope you are well thanks for the post. 

ARe you looking for cash flow or areas more likely to appreciate? 

there are a lot of solid markets around the country.   Charlotte is probably the most balanced market in the country offering good cash flow and good potential for appreciation. 

Orlando is similar. 

KC, Memphis, Jacksonville, Birmingham are predominantly what i would consider cash flow markets. 

Dallas and Houston are positioned for continued growth. 

almost like the saying goes "there is someone for everyone" ... there is also a real estate market that meets every investors individual needs/ goals. 

take care

sky mikesell

hey John 

 does the property cash flow on a 15 year AM?    

i agree doing a 30 year makes the decision easy and if you maintain the same discipline that made you consider the 15 year to begin with  and you simply stay focused on paying down principal each year you can still get it done in 15 years. 

Corey nice to meet you my name is sky miksell i grew up in portland and did real estate there for many years before moving to charlotte north carolina. 

i actually moved from portland to charlotte bc it met my real estate goals a little better from a standpoint of affordable investment property.   i had a large portfolio all over portland spreading from LO all the way to N. portland and believe it or not NONE of it cash flowed.  

when i came to charlotte for every one property in portland i sold i could buy 3 in charlotte for the same money.  properties here actually cash flow after all expense.  

when i was there i occasionally would attend NWREIA .. 

I do agree an LLC is never a bad idea when you start owning multiple properties.

good luck and take care.

Sky Mikesell

great topic @RIck Montanari

thanks for posting. 

take care

sky mikesell

section 8 is one of the longest running social programs in our country... and it is running out of money. 

my mentor always used to tell me... "do you really want to be in the same position as your tenant... the only difference is your name is on the deed but you are just as reliant on the government as the tenant you rent to"       

i dont know about you Phillip but i would rather rent to someone who HAS to get out of bed each day and go to work just like i do. 

section 8 like any social program was created with good intentions and has become totally screwed up along the way. 

good luck, 

sky-mikesell

Hey Maxwell-

 you are in a hotbed of good properties. 

welcome to bP

if the tenant is good, leave them in there and sell the property to another investor as a turn-key investment.   if the numbers work someone will buy it. 

Hi Krystle  my name is Sky Mikesell  i am in charlotte just down the road... feel free to reach out anytime.. if you are in charlotte you are welcome to walk thru a few of our properties to see how we do things if you think that would be helpful to you