All Forum Posts by: Chris Webb

Hi @Chris Seveney, I am in Lynchburg but I invest in FL right now. I do know a great agent who helped me get my home here and she also invests. Let me know if you would like to connect with her. 

I'm following as I am in Central Virginia and I hear that some of the people from DC and NOVA are heading this way. I am sure Richmond people are right behind. 

Hi @John Philip Eugenio. My first question would be what are your purchase parameters? I would run the numbers for a few weeks before making a decision. Math is math and it will give you the information you need to decide. Also, what are other investors in the area doing? Are they counting on appreciation or cash flow? Does it match up with your purchase goals?

Personally, I have been to both and love them equally for different reasons. I do not have properties in either...yet. 

Hi @Dave Meyer, one thing I do for my area is keep track of local news because I do not live where I invest. This gives me insight into a new employer who may be coming to town and where so I can adjust my purchase parameters to account for a new variable. Also, local news will give you a heads up on any new legislation that occurs. I am originally from Massachusetts and I saw yesterday that the city or Boston will be adding a fee on all properties sold over $2M. Now, that doesn't impact my personal investments, but if that was my market it would be information I would like to have. Great post! 

Hi @Kevin Sobilo, I think the issue is they are not on the market. Here is a sample I found of one that recently was listed. Duplex in Frisco

Hi @Amanda Polton, I just moved from Frisco. While there, I had the same mindset looking for a duplex so I could house hack. the problem is that there are no duplexes to buy in Frisco. With that said, I may be ridiculed here on BP, but I am not a fan of the appreciation play. I lived in Tucson from 2007-2016, I have seen appreciation evaporate. I would look for a cash flowing option and built off of positive cash flow. Best of luck in Frisco, it is a great place to live. 

@Doug H. STR = short term rentals. AirB&B I believe, I am a little new to the BP forums, I am sure someone on here can confirm.

Hi @Patrick V.

I recently graduated from FSU and spent 16 months in Tallahassee and I own a home there that I rent out currently. My responses are in Bold.

What are your thoughts on the current market? Tallahassee has seen decent appreciation, do you except the University to continue growing? Do you have decent cash flow with existing properties? I am not an expert on appreciation as I am a buy and hold investor. I will say that over the last year my home appreciated very well.

- Did you see a decline in tenant demand with Covid? Has it rebounded? I did not see one, in fact I saw a rent increase and had a few offers. 

- I would be looking to do value add rentals near campus, ideally multifamily but those seem rare to find. True - Tallahassee is a SFH town. I am familiar with college students and know the house would have more damage and turn over then non college rental housing. What is your experience with college rentals, how much do you need to allocate for repairs and vacancies? If you are looking down by the university value add will be good as the whole area is redeveloping.

- Do you foresee any price corrections in the next year? To macro of a question to ask, I am not actively looking at the Tallahassee market to know this. 

- Any recommendations for RE agents that work well with investors? I have an excellent agent who also invests and has been investing for years and only works on referrals - he does no marketing and doesn't have to. Connect with me and ask for his name. Same goes for my property manager who is also a Realtor.

- Any recommendations for property managers that are quality and cost conscious? See above

- Is the market competitive and favoring sellers as interest rates are low and many folks have migrated to FL through Covid? I do not know the answer to this question. Local numbers might be found on the BLS website. I will say that looking at the enrollment numbers of FSU and FAMU might help in your decision too. 

- What types of properties do you recommended? Ideally I would get a value add multifamily as I have enough capital and prefer to deal with one property then various SFRs and I can still get a residential loan as long as the property has 4 units or less. However it seems most properties here are going to be SFRs. Spot on - Tallahassee is a SFR town and it is difficult to find a multi unit. They can be found, I would talk with an agent and share with them your strategy and they will be able to help you fins something. It is not impossible, just difficult. Now, I am not sure about the possibility of adding units through zoning changes, again, I would talk to someone on the ground there.

I hope I was able to help you even a little. Let me know if you are interested in talking with my agents.

Hi @Hoffman Moore, I recently graduated from FSU and I would be happy to talk with you about RE investing. What are your intentions while in school? Will Tallahassee be your home upon graduation? What is your understanding of real estate investment at the moment? Getting started is a process and being on here is a great start. Educate yourself on the financing and learn about appraisals and the sales contract.

WOW, thanks for all the comments. I have read each one and I have seemed to learn more about each decade.