All Forum Posts by: Jt Marting

@Charles Kennedy

Wow. Thanks for going so in depth! I’ll have my RE License by the time I move to FL, so that should definitely help with getting the property leased, but my main concern is the turnover with college bedroom rentals and the summer vacancy. What are your thoughts on this? Do you think it would make more sense to try and find a multi family and rent out the other units to make everything easier? Also that was a good idea about telling them my parents owned it. I thought it would be worth the $100-200 a month to not piss off my collegiate roommates, but that strategy seems to simplify it.

@Charles Kennedy

Thanks for the quick response. I’m looking to the west of campus mainly, within a mile or so (walking distance) of the stadium.

I’m accounting for around $400 per bedroom, 7% vacancy, 10% management, 6% capex, 6% maintenance, property taxes, insurance, utilities (I’d assume the landlord has to pay for this in bedroom rentals), $60 for insurance, $50 for trash, $50 for lawn mowing, and $50 for other expenses.

Am I over estimating on costs or something?

I would like to purchase a house hack prior to attending FSU in the fall if the opportunity presents itself. When looking at the market near campus and doing some analysis, it seems as if the rents by the bedroom are so low it wouldn't really be a profitable strategy. Does anyone have any thoughts? I really want to just get my first property but it doesn't seem like the area would really make this feasible. Thanks!!

Any tips on areas to look into or stay away from in the Jupiter/Palm Beach area? I'm mainly looking at multi-family. Thanks!!

I stumbled across an interesting possible loophole, and am curious if anyone knows the legal aspect behind this. I was planning on purchasing a property and house hacking during college, and the numbers just weren't working in the area I plan on going to college. 

That's where residency comes in. As far as I understand, while i'm in college, living on/near campus doesn't count as my legal point of residency. So what is? If I claim myself on my tax returns, and purchase a property while living in college as an investment, can I call that my point of residency and qualify for a FHA Loan or other conventional primary residence loans? And still be able to rent out the property as an investment? These laws get pretty complicated and i'm not trying to cheat the system, but I feel like it's possibly a loophole and I was wondering if anyone knows anything about residency and how it would work in my situation. Thanks!!

My name is JT Marting, and i'm an aspiring real estate agent and investor. For my high school we have about a two week period between May 10-18th when we can find someone to work with in our possible career path, and I was reaching out on here to see if anyone would be interested in letting me work with them for a few days! I'd love to hop on a call and talk more about it if you'd be interested. Thanks! 

BiggerPockets blocks us from sending contact info in a public feed I think. Could you add me back as a connection and I could send you it there? Thanks!

Could you send me a copy as well? It looks really nice! Thanks.  

@Kevin Kohler perfect!! I just sent you a message.