All Forum Posts by: Eric Delcol

Hi Everyone,

Do you have a Home Warranty company that you would recommend?  

I cancelled all of my policies with the company I was using (First American) as every single claim I submitted was always a fight.

Does anyone have any experience with a home warranty company that is easy to work with?  In particular where you have gone through several claim submissions and reimbursements?

Nationwide coverage would be a plus.

Josh Day Congrats on making the move! Multi inventory inventory is low but so do exist. Contact Devon Garbus if you want to work with an investor focused agent.

Richard Solano If the $50 /year agent fee is causing you to cringe don't bother with an llc. At this stage you probably don't need it and there is much more to pay for than just the agent fee to keep it's records in good standing.

Amy Herzing "Does anyone happen to know how the St. Pete market is comparatively to Orlando or Miami markets?" St Pete / Tampa has more cashflow and easier entry points compared to Orlando. Miami has wide swings in prices - high highs and low lows. Little cashflow.

Originally posted by @Hank Keller:

@Tony Xu - I've been successful buying Turnkeys for the past four years using the following market criteria.

1. Business Friendly & Fiscally sound state government - Is the state land lord friendly and is it cheap to set up an LLC, and will the state be pouring money into cities to make improvements

2. Population > 1 million and growing - a large population that is growing makes it easier to find tenants

3. Job Growth / Employment is consistent and growing - with new or growing companies come tenants

4. Cheap houses - I consistently get > the 1% rule ($750 for a $60K home)

There's plenty of other things to look at too but i always start by making sure the markets meet the above.

Hank

 @Hank Keller

I agree with all your points.  What markets do you invest in that you feel have those criteria?

Hey @Tony Xu

"I am mostly interested in maximizing cash flow...putting it around ~100k a property. I would ideally be looking for A, maybe B grade properties if A grade is not possible."

To have all of those things is not impossible, but would be very difficult to find. I would suggest picking two of those three points.

To give you some perspective - your statement above is a bit like saying

"I'd like to buy a new car, one that has the best gas mileage. I'd also like a luxury brand, like BMW or Mercedes, and my budget is $9,000."

Here's a broad overview of what you can buy with $100K in the cities you listed:

Kansas City - B neighborhood

Jacksonville - C neighborhood

Tampa - D neighborhood

Detroit - A/B neighborhood

“I think initially I would probably start using a more turn key service, but then move in to having my own team as I get more experience. I will be remote since I live in California.”

If you want to be passive in your investments turn key can be great. But if you can dedicate the time to your real estate endeavors doing things in house will be much more beneficial (and less expensive).

I know all four of these cities well.Feel free to send me a PM if you have any questions or feel free to just reach out and share what you decide!  Good luck!

FAANG stocks

Sunita Maharaj Wholesalers and traditional listings is where we find our leads. We consider 1% rule or better in appreciating parts of the city a good deal. No condos.

Tampa or Orlando, possibly ft lauderdale. Further north than Orlando is less than optimal swimming weather in January.

Brittney Lundeen Congrats on escaping the cold. I can comment on Tampa. Check out Seminole heights - west of 275 but east of the river, Carrolwood, or anywhere in south Tampa. (South of 275). Avoid Ybor, and east of 275. If you love the beach check out St Pete.