All Forum Posts by: John Kent

The best way to pay utility bills would be to use Bill Pay through your bank account or to send a check or money order by mail. 

It would probably be most convenient for you to open a bank account with a bank local to you. If the property is titled in an LLC or Corp then open a business account. If the property is titled in your name compare personal account vs business account terms. The personal account may have more attractive terms. If you plan to collect even one penny directly from a tenant then open the account dealing with the property at a different bank than the one you bank with personally.

My company offers direct deposit and I do believe many property managers do. Those that don't will most likely send a check after receiving the monthly rental payment. I prefer direct deposit because I do not trust the mail but I think it is a matter of personal preference. The monthly invoice should provide an accounting of distributions and fees deducted from the gross rent. Provide a mailing address, in writing, to the property manager so they know where to send your check. 

@Jonathan G. welcome to the BP community. 

@Aaron Bellerose welcome to Bigger Pockets. Wishing you all the best as you pursue your ambitions! 

 If you are dealing directly with a homeowner you can search Google for a "Far Bar As Is" contract or your title company may have blank forms that they are willing to share. 

If the property is listed with an agent ask your agent to draw up a contract with your desired terms. 

Not all price ranges work. To give an overly simplistic answer; the acceptable price range of the property depends upon the rental rate that the property can reasonably expect to demand. Review a small list of comparable properties that have been leased within the past 6 months to determine how much an actual tenant would be willing to pay. 

At a minimum. the investor needs to cover all monthly, debt service, taxes, management fees, expensive, and reserves out of the monthly rental income. In addition, most investors also with to have a monthly cashflow above and beyond what is needed to cover costs.

Florida markets with lots of wholesale buyer demand: Southeast Florida (Miami/Dade county), Jacksonville, Orlando, Tampa.

FHA, USDA and VA all have construction to permanent loans. You can include the land and construction costs in the loan.

You will need to hire a custom builder. A full service custom home builder can walk you through site needs and will know how to adhere to the required building codes. They can also help you price out the construction project. 

Generally speaking in our market, with current prices, resale homes are more cost effective than new construction. 

@Douglas Young welcome to BP and welcome to the neighbourhood. I lived on the Lowell/Avalon border of MA before the brutal April winters forced me down to the south. Summer for 3 months and Spring the rest of the year with a few Fall-like days randomly sprinkled in works for me. I hope you are able to find home here as well. 

 Welcome to BP! 

I have seen some good Townhome plays in our area but not many condo opportunities. I have a great resource for tenant screening that I will PM to you. 

I remember when Buffet announced his desire to get into the RE brokerage business. Then is seemed like BHHS popped up everywhere overnight. Buying Prudential and changing the name explains it all.