All Forum Posts by: Erik Kuhi

Hi Dustin, Looks like a good opportunity but I'm not sure I'm in a position at the moment to work with you on this. Keep me updated and we'll see what the future brings.

Dustin,

Can you share or send me more info on the Daytona property? I'm currently looking for a second rental property in the Daytona area.

Thank you all for all the great info. I will keep the thread updated if I decide to move forward. Does anyone know of a way for me to get the lots perk tested prior to making the purchase? Thanks again!

I think NYC would be a great location for 2017 but not much time left. Early 2018 might be better at this point. Give the west coasters a little time to plan their trip. I think it would be great to see an annual conference. Of course different locations every year. It would be great for networking and growing relationships with BP members.

I have an opportunity to purchase some undeveloped lots in the Bella Vista area of Arkansas. I'm in NJ so the purchase will be made site unseen so I'm wondering if this area is showing good signs of development. Any information is greatly appreciated. 

Hello Everyone, My name is Erik. I'm pretty new to real estate investing and looking to get the ball rolling on growing my portfolio. I live in NJ but I'm looking to build the beginning of my portfolio in Daytona Beach FL. I have some history in that area and it's still affordable enough for me to get in and start learning by doing. I also have an accidental rental in NJ that is more of a rental of necessity that an investment property. I'm now eager to find a second deal in Daytona. I'm currently trying to figure out how I can finance a second property. On my first real deal I made a rookie mistake and tied up most of my $$ in it. I think its a good deal but I wasn't thinking bigger at the time and I could have spread the $$ out on a couple or maybe even a few properties. Not a big deal though. I just need to get a little creative and dig a little deeper this time around. My current goal is to purchase 10 rental properties in 10 years and potentially retiring from my full time job at 55. That's about 11 and a half years from now. I have 1 so only 9 to go. Then there is always increasing my goal if things go better than expected. Enough about me. I look forward to engaging with many other members, building new relationships, learning from everyone and sharing my experiences through this journey of real estate investing.

Hi Ben, Sorry to hear what you're going through. 1 of the negatives in the real estate biz. I'm a newbie so haven't had that experience yet. The reason I'm chiming in is about the property management. I have my rental property in Daytona and I'm using Mary Lynn Realty for property management. It's only been 6 months so far but they've been really good. They found a tenant in less than a month of the property being ready and quickly resolved the small issues the tenant had shortly after moving in. In my short experience they've been great and I recommend contacting them if you are looking for new property managers. Best of luck! Hope the eviction goes easy on you! Erik

Charles Zink - don't go just by my opinion because I'm not an expert on Daytona but I recently bought a rental property there and spent some time around there growing up. From my experiences and from what I've been told recently the area to be careful of is east of Nova Rd to a little before the Halifax River. I'm not sure how long the area is from north to south but in the Speedway Blvd area is probably the center. Hope this helps.

Hey Joe, I recently began my real estate investing journey by purchasing a town house in Daytona. I had to put a little work into it but I purchased in mid January and had a tenant in by April and I'm cash flowing around $400 a month. So far so good. I hired a reputable management company to handle any needs or issues and I've been pretty happy with everything so far. I'm actually eager to make another purchase down there but I'm struggling to find enough $$$ to make it happen at the moment. As soon as I find the funds though I'm definitely pulling the trigger on another rental property. I'm pretty new to this so my knowledge is still amateur at best but if you have any questions I will gladly try to help. Good luck!!! Erik

1 of the big players in the area is SICA Modular Homes. http://sicahomes.com/?redirect=false I think they've been doing a ton of these after the storm a few years ago. As far as the #s I did a quick google search on the cost of modular homes and saw roughly $76 per sq ft. I rounded that up to $80 and figure a 1000 sq ft home. The current house is listed at 800 sq ft. I know I missed a few of the costs Alex mentioned in his reply but is the research I did off as well? Thanks for the info. This is a good learning experience just getting input off this idea. Even if it's a dud this helps me be better prepared while searching potential deals.