All Forum Posts by: Elenis Camargo

Hi @Akshay Kumar, it's never a nice surprise to see your property left in a rough condition after a tenant moves out and on top of it damages the yard. For the majority of the properties we manage for our clients, we pass the yard responsibilities to the tenants. But we also do occasional drive-byes and annual inspections to see how the tenants are caring for it and hopefully catch anything that is potentially damaging before it gets real bad.

Some of our clients prefer to pay for the lawn care and we charge a lawn care fee to the tenants. For all multi-family properties we always handle the lawn care as there are common areas so we can't expect the tenants to care for it.

When sending the security deposit claim we state the additional cost that is owed for damages even if the entire security deposit is claimed for other damages. This money is still owed by the tenants and at times we were able to collect some of the money for the damages.

Regarding installing a sprinkler system, it's only helpful if the tenants don't turn it off. If they pay for the water there is a good chance they will turn it off. The only way to ensure that the yard is being cared for the way you want is to do occasional check-ins.

Hope this helps!

Elenis

Hi Eliran,

We prefer @Mark Fries to handle our rental property renovations. He's our go-to contractor!

-Elenis

@Guillaume Vidallet I'll chime in here since it seems like everyone answered your question and gave some great advice.

I'll suggest that whether you have one LLC or multiple LLCs you have separate bank accounts for each and make sure not to commingle any money. If you do you may run the risk of piercing the corporate veil of your LLCs making you personally liable for business debts. This means creditors can go after your home, personal and other business bank accounts, investments, and other assets.

Hope this helps and congrats on your first investment!

Hi @Lilach Holtzer, yes let's connect! I'll shoot you a message.

Regarding a licensed GC, we highly recommend @Mark Fries. He handles many of our clients' projects from roofs to full gut rehabs. He's an investor in Jacksonville as well! I suggest you reach out to him or if you'd like for me to introduce you I can do that too. :)

@Dustin Wheeler Welcome to BP! This platform is a great resource, especially when you’re first starting out. I suggest listening to the BP podcasts and reading through the blogs and books they offer. Try not to get overwhelmed as there’s a lot of information on BP and many avenues within real estate investing.

When I was starting out, I was interested in so many strategies, but I discovered that I did my best when I focused on one or two and really built my knowledge around them. For me and my goals, I focus on long-term investing in residential single-family homes in Florida and Georgia. If you have any specific questions, I’d be glad to help!

Thanks for the mention, @Jonathan Greene!

@Christos Poneres it's a pleasure to meet you. Our property management company manages over 500 units all around Jacksonville with a good portion in the Southside area. Residents tend to be drawn to that area because of the higher rated schools and proximity to restaurants, malls, etc. Rental demand is high there, but so are home buyers looking to purchase properties there which makes it a bit of a competitive market for sales. Also pricing tends to be in the $250k+ range for SFHs, so cash flow may be difficult depending on how one is financing the deal. Since many of the homes, but not all, are built in communities you may also have a small HOA to pay and deal with. Hope these insights help you on your investing journey here in Jacksonville! If you'd like to connect please send me a message.

- Elenis

Hi @James Haight, welcome to BP! I'm an investor and property manager in Jacksonville. Zip codes I prefer investing in are 32210, 32211 and 32208 as the price to rent ratio is very attractive. There are pockets in those zip codes that have new construction going on. Since they're established neighborhoods renters tend to like them. Most other new construction is far and outside of town. If you're looking for properties to add value, in my opinion, 32210 has some great opportunities for appreciation as it's close to Murray Hill, Riverside and Avondale which are very popular neighborhoods in Jacksonville. If you'd like, I can connect you with my agent. Just send me a DM. Best of luck!

- Elenis

Hi Eli,

I'm located in Jacksonville, FL and co-own a real estate and property management business. Many of our out-of-state clients this year have been buying new construction homes as opposed to fixer-uppers. They see them as less risky, but of course the entry price is higher in the low $200K's. We have the big builders here like DR Horton and KB Homes, but you'll also find also local builders who buy in-fill lots in existing neighborhoods and build new homes next to existing homes. They are usually 3/2 homes with a garage. Our rental residents tend to like them because 1) they are new homes and 2) they are in neighborhoods that they are familiar with and not in the outskirts of town. Many of these builders offer buyer incentives and since they are in existing neighborhoods they don't have HOAs. If you'd like for me to connect you with my agent who has relationships with these local builders please send me a DM and I'll share his contact info.

- Elenis

Thanks so much Sam!! I'll give you a call shortly :) 

Hi everyone. We are a property management company and manage almost 500 units in the Jacksonville / Northeast Florida area. We do have a 40-unit building in Melbourne, FL that a client from Jacksonville asked us to help him with as it was very badly managed by a local company. We have started the process of cleaning out the delinquencies but we need people that can help with the following:

1) We need a reliable person that can walk the units that are currently vacant and provide a list and pictures of what they need to make them rent ready. Help with taking listing pictures to list the units for rent. Help with moving people in and moving people out of the units. And help with posting notices when tenants are late on rent or when we need to enter for inspections.

2) A handyman to repair any of the items from the turnover lists and to help with maintenance issues.

3) A cleaning person to clean after the turnover items are done and before a tenant moves in.

If anyone has recommendations of people in Melbourne, FL that can help with these tasks, we would greatly appreciate it!!

Thank you!

Elenis