All Forum Posts by: Eugene Kemp

Welcome Mia! Nice to see another local onboard. My wife and I are active investors and she is an I vestor friendly realtor if you should need one. Hope to see you around at some point!

Gene

Thank you all for your input so far! I didn't anticipate this, but during the course of my day, I've discovered that there are both an REIA and an REIF (and who knows if there are more that I haven't uncovered yet!). Trying to make sense of which is a better place for me to invest my money in a membership. REIA vs REIF.....anyone experience both and have an opinion?

Good Morning!

I have been on this site for a month or so now and reading and participating in various discussions, and really enjoy what I've experienced so far. I am semi-retired, and have a few local SFR's that are on fairly solid ground and providing me that retirement income supplement that I'd hoped for.

I have 2 questions for the local Jacksonville, FL REI community.

1. My wife and I are considering joining the Jacksonville REIA. Wondering if it is worth the $300 a year to become a member? Any readers here members? Wife is an active real estate agent locally.

2. One of our rentals is mortgage free, and I'm considering taking some cash out of that to purchase another rental or for down payment on a rehab project.  Anyone have any suggestions on how to or who to deal with to best obtain this type of financing?

Thanks in advance for any comments.

Gene

Understand your concern, but my first question is are you really going to be able to remain silent and not comment if you see one if your tenants doing something to your property? If they know you are the owner, don't  you think it may help to keep good behavior on display all the time? I don't  have personal experience with this, but just my initial  thoughts.

My son is paying 12.99% on a hard money loan for a than he is currently working on. Yes it's high....manage your time well and get it on the market asap is the key.

Google Sketchup?

I've looked into the Homepath option in the past Mark, and found it to be more trouble than it is worth. Stringent requirements that really tie your hands. Best of luck to you!

If you purchase with cash, how can they require anything like completing repairs in 6 months??? That makes no sense to me.

Furthermore, I think you need to consult a different realtor. The Homepath program is still very much alive. Go to the Homepath dot com website and put in your zip code and see if that particular property is on the list.

Hard money if you don't have the cash might be an option.

What's your position with regard to market value vs mortgage balance?  If you can end up with something, I'd vote SELL! In fact, if you can sell with minimal financial damage, it might still be the best call.  Depends on your pain threshold. 

You're a lucky guy....want to sell it? 😋