All Forum Posts by: Jaret Walker

@Jaysen Medhurst thank you I did not know that existed!

I have been looking at Multi-Family property in Florida and I am wondering what everyone's thoughts on the Cape Coral / Ft Myers area. Most of what I do is buy vacant land and build multi-family properties for long term rentals so my big questions about the area would be. How strict are the building codes in the area? What kind of ROI are people seeing? And what does the market look like on long term rentals in terms of supply and demand? Anyone in the area or investing in the area I would love your input!

@Charles Soper

Yes Charles in my county anything with more than 3 homes on the same parcel is considered commercial.

So this gives me the advantages of growth through ROI like in multi family. I know a little about lines of credit, but what are your thoughts on lines of credit? Pros and cons?

@Anthony Katsonis

Thank you Anthony!

My builder also owns a truss shop and developments subdivisions and builds about 25-30 spec houses a year. I can have everything built very cheap because he buys a lot of lumber, drywall, plumbing, shingles, and he builds all his own trusses. I also use the same cabinets, countertops, sinks, toilets, showers, doors, floors, and dishwashers. This allows me to already be ahead of the appraisal so what I would do would buy a lot larger piece of property and do the same thing on it just with a lot more units to get my price down even further. I just don't know if I'm better off to wait to build up my ROI and borrow against it in 7-8 years when they are payed off or get my ROI up now sell and move on. Thank you for any input Anthony!

I have 2 duplex's and 4 single family homes with 5 more being built. All my SFH are all 725sqft 2 bedroom 1bath on the same plat of land so they operate more like multi family rather than single family. The two duplex's I have I raised the rent once from $750 to $800 sense I purchased them but I think I can get a little more in my market. The SFH's I am building and already have are apprising at $10,000 more a door than I have in them. I am currently at $675 a door and once complete with the second half I will raise that to $725 and should have no problem getting that in my market.

My question is would I be better off to hold them while gaining equity or would I be better off to raise my rents over the next year and sell them for the cash to re invest in something else? Has anyone been in this situation?

What time frame is she wanting to reach 100k a year? I have both multi family town homes and single family homes. I have better returns on my single family because I bought my first two homes on the same property with room to build 7 more homes on the same property. So that allows me to make the most out of the property that I have already bought. The two that were already on the property were small new build single family homes. Both are 725 square foot houses with two bedrooms and I get really good returns out of them so I am building 7 more identical to the first 2. I also tend to find tenants a lot quicker than my multi family town homes. I don’t put any of my money into them and they make enough after my payment to cover any unexpected costs. I would be more than happy to share my blueprint on the houses I’m building if you want. I have $57,600 in the new ones and they are turn key ready. I am getting $650 a month out of them and have people lined up waiting on them to be done.

Hey James my name is Jaret I am always looking for new property and I am definitely looking into the Nashville, Franklin and Mt Juliet areas. If you come across any multi family properties in these areas please let me know!

I have both single family and multi family but I have not had them long enough to know which one I prefer. I want to know the advantages and disadvantages of both. Such as ease of renting, how long tenants stay, how well tenants take care of them, and of course which one makes you more money!

This is something I would be looking to do in the next 5 years to possibly lower the payments but I will continue to look at it because in 5 years it might not be feasible because interest is expected to raise several point this year alone

No I have done 20% down on all my properties and have had them for a short amount of time. I am not at the point of refinancing right at this moment but I want to know more about it before that time comes if that is the route I decide to go.