All Forum Posts by: Gavin Welch

I’m an investor/broker/property manager in Lakeland.. I’d be glad to help you.

Sounds like you have several positions, Manager: property manager: closing agent: acquisitions: investor relations/funding/ growth

good luck

There are still deals to be had, you just need to be patient.  The forbearances and foreclosures will have an impact on the market, but I don't see it being a 2008 all over again.  Something more significant (8 month national shutdown or something) to really have a significant impact.  With that being said, it's always a good idea to keep some extra cash on hand if a deal pops up.

Those numbers are achievable in Lakeland, Plant City, and Winter Haven.. You just need to know what you are looking for.. HOA's and CDDs will kill your cashflow and you might consider avoiding them..

I would NOT rent to them.. Sorry.. Everyone has a story, but I think in CA it is really difficult to evict someone.  It sounds like the owners wanted everyone out and they refused, so the owner was forced to evict.  Just tell them the truth..You didnt have all the info when you agreed, return their money and move on.  

In some states you have to honor the lease that's in place.  If they are good tenants, then why not.  If you think they are suspect, then try to get the seller to do a 'cash for keys' with the tenants.  

Josh, don't panic.  It sounds like you gave him too many opportunities.  According to my understanding of the CDC order, there is 5 things they tenant must do to qualify.  One of them is make an attempt to pay, which it sounds like they have not.  So the CDC order wouldn't be a factor.. Also, is the tenant month to month or on a lease.  You may want to try to evict for termination of a month-to-month lease.  It's a way around the eviction for non-payment.. 

Garrett, seller financing is great, if you can find it and structure the deal correctly.  Either you are going to put time or money in the deal, if you don't want to invest the money, then use your time.. Find someone with money (dr, lawyer or other) or someone with a self-directed IRA you can use.  I market to tired landlords, I keep the best properties, sell the remaining on the mls.  I also market for distressed owner, flip the good properties or rehab then rent and sell as a turnkey rental or just wholesale the contract (yes you can do that as an agent).  Put some prospective property deals together so when you meet an investor you look like an expert.. Good luck

Will, what are you looking for?  Im in Fl..

Byron, partnerships can be very difficult.  Have the difficult conversations upfront.  Consider exit options for the each of the partners and also set expectations for each other.  Set a timeline for the property for the next two years.  Follow the timeline and every month give an update.  A good way to do this is with a ghant chart.  So when a unit become available you know how long you have to rehab it and re-rent it. good luck