All Forum Posts by: Jordan Mummau

Congratulations Steve and welcome to Lebanon County RE investing! 

@Tyler Sullivan

I know Marathon allows 7 day rentals. From what I understand you have to purchase or obtain a transient rental license in key west in order to rent in key west for any period less than 30 days. From what I’ve seen the transient rental licenses in KW are some serious coin.

My wife and I are looking to purchase a second home/investment in the Florida Keys. We specifically favorite Key West and Key Colony Beach in Marathon. Unfortunately, Key West appears to have pretty stringent rules on Short Term Rentals. Can anyone shine some light on the closest Key or area to Key West that allows STR and would also offer canal/waterfront properties? If we can't find anything in or very close to Key West, we'll stick to looking in KCB.

I, as it would appear like many others am considering moving to Florida. My family and I currently reside in Central PA. Both my wife and I have grown up in PA and we enjoy it’s simplicity (and also its cash flow positive local RE).

However, we’ve been going to Florida more and more over the last couple years. I’ve had a local central pa medical device business which originally limited my mobility that now produces modest residual income, my wife works remotely and we have enough passive income to support our lifestyle/expenses should we maintain the same expenses. I do have a real estate license in PA and would consider getting one in FL as well. Both of our children are under the age of 4, so I would assume it would be as easy as it’s going to get at this point in our lives.

I’d like to continue investing in Florida when/if we do arrive. By investing, I mean actively/daily/full-time. I’d also be interested in other RE or business opportunities in the state as well. My question is...what area?

My preliminary research came at no surprise to notice that it appears the entire state, much like the rest of the country, but perhaps more so is red hot for quick contracts.

My bread and butter here in PA is rural but trendy towns, 4-10 unit multi family brrrr deals ranging from the 250-1MM mark. What area(s) of FL currently would you suggest looking in to support strong cash flow opportunities at this price point? Any other advice or suggestions would be appreciated and feel free to connect with me! I appreciate your insight.

@Edward Kiser the York area, like many others is very school district driven but it feels even more imperative in the surrounding York area. There’s several areas in and around York that offer some impressive cash flow numbers.

@Chris Ichter

Particular towns in Lebanon County. Would be happy to connect to discuss in more detail. These markets are small but can be very lucrative. I've done several BRRRR's in these markets over the years. Over 20 units this year alone.

@Noah Black see above!

@Brian Mahon

Columbia has a pretty high tax rate and doesn’t necessarily demand a monthly rent suitable to offset some of these expenses. Be sure to do your due diligence. There’s several areas outside Columbia that I’d recommend looking in to.

The area has potential, no doubt but there’s other areas in S. Central Pa that offer lower cost of entry, lower expenses and higher cashflow.

@Steven Hershey I live and invest in this area. Finding REO's right now is going to be a significant challenge with the moratorium through the rest of 2020. I do believe there will be opportunities in 2021 for REO's but it's going to be tough sledding until the foreclosure restrictions are lifted. Additionally, Lancaster is one of the hottest cities for real estate investing and appreciation in the recent years, with 2020 being no different. With the amount of money you've been discussing investing, it may be wise to look just outside Lancaster into some of the more rural areas that are starting to come alive as well.

Lastly, I've found more deals networking with wholesalers in the area and direct contact with homeowners than REO's. There are deals to be had in various communities in Central PA, you just have to put some extra effort into discovering them. Chances of a deal coming to market, in any form is slim in the current climate.