All Forum Posts by: Henry Lewis

Hello a friend of mine had a window installation on a property. The contractor didn’t complete the job to satisfaction and now the property fails inspection. Does anyone have recommendations for handling this? TIA

Use the calculators to determine your potential returns, set aside a substantial capex %

Who has had success turning a SFH into a MFH? What were your largest difficulties to overcome? What do you attribute your success to?

Hello Matt,

I am an aspiring investor to the area and I will share what I have learned over the last month. 

-The Tampa market is EXTREMELY competitive

-Cash flowing MFH's are few and far between

-FHA loans are great but are not as attractive to sellers

=> Our best bet is off market deals and seller financing. 

I would love to connect and share our successes and failures as we try to navigate this chaotic market. 

You could take that $ and apply it to towards another asset to pay off the 'original' mortgage faster, sell that asset when complete.

Thanks mike, do you use the same ipostal1 address for the registered agent of your LLC?

How do you guys go about setting up an LLC address? I do not feel comfortable using my home address for my LLC and I know that you cannot use a PO box. TIA

My biggest fear is running the numbers wrong or missing something that will cause financial hardships down the road. I have not purchased any properties and am looking to purchase my first this coming summer. I am analyzing a couple deals a week to try to help with the numbers side of it but its still hard as I do not have someone to verify the numbers currently, I know my agent will verify my numbers when we start looking at specific properties. Education is key.

It all depends on your goals and the lifestyle you are comfortable living, generally the more you can decrease the quality of your lifestyle with a house hack, the more it can cash flow. If you can get a SFH with a garage or a large driveway, you can live in the garage or park a trailer in the driveway and live there. Not comfortable, but you could cashflow heavy for a year while saving up for a larger investment. MFH is the classic way of house hacking, do not get stuck on it. Get creative. I read a book called the 'The house hacking strategy' by Craig Curelop and it helped me a lot.