All Forum Posts by: Eric Gerakos

Welcome, Tyson. Do Florida rentals still pencil out with current insurance rates? I'm considering buying a house in nearby Palm Coast as I travel there for business.

The hardest part is getting their little paws to hold a pen.......

No.

The “everyone” who talks about scaling quickly are typically new investors and agents. Experienced investors don’t worry about scaling quickly. We want fewer but better properties. Collect money, not properties….

Zoe, when new investors talk about, “scaling as quickly as possible” that is often a recipe for financial disaster. Buy quality properties in quality areas. Save your money. The goal is to make money, not to see how many cheap (undesirable) money losing properties you can own. Best of luck to you. 

Tenets are a waste of time. It’s tenants that you should be concerned about.

The best way to attract quality tenants is to buy quality properties. Quality tenants aren’t going to live in D properties.

Mark, since you're an inexperienced investor, I would be very cautious about borrowing against the roof over your head. If your first investment goes South you run the risk of putting your home in jeopardy. Take your time and look for other financing strategies with less risk.

I have been preaching this on BP for years. Fewer but better properties. Unfortunately, many new investors drool over how many crapboxes they can buy and brag to their friends about owning. After ignoring advice, their next post is often, “How do I evict my non paying tenant?” Or the always popular, “My tenant moved out and stole my washer, dryer, water heater and light fixtures!!!”

Michael, why would you invest in UNSECURED note funds when you can buy notes SECURED by real estate that are currently paying 10% for 2 or 3 year interest only terms? I don’t sell anything on BP. I’m just an investor.