All Forum Posts by: Kenneth Hawkins, Jr.

Thanks everyone for the help within an hour after posting this cry for help the sellers had a professional emergency response company there to get all the water up and prevent any mold with commercial grade dehumidifiers and fans. They are saying they are just going to demo the entire lower unit and fix it but my agent and I are requesting a written letter showing what exactly they are going to fix. They have been very responsive and the tenant was out already on the Nov 2, they never sent anyone after he left to verify the water faucets were off befitting turning it box on for due diligence. So far so good

Currently under due diligence and the day of the home inspection we find the tenant left the water running in the kitchen and up stairs baths causing water to flood the basement unit (duplex) . House already needs about 20k in rehab to get both units rented. What should I do any recommendations this would be my first rental that was not my primary residence?

@Kisean Smith can you send more info on this program ? Didn't you have to agree to be a owner occupant? Are you paying PMI ?

Also what Facebook groups were you using to check rents ?

Natalie Kolodij and Michael Biggs I feel the same that at the end of the day when I run the numbers the cash flow has to be where I want it before I will continue with the property. If paying a HOA helps come tax time then cool but I knew that didn't sound right. I will definitely talk with a CPA.

Should the writing off of the HOA fee make a difference in deciding to close on a deal or not ? A Realator suggested that the writing off of the HOA fee will decrease my tax bill leaving more for cash flow. But that would only leave more money from my personal income right and not increase the cash flow ?

Addison Perez hey did you get the deal ? I'm in jax too and considering a few townhomes but the 218 and 300 HOA fee is high to me. Did t workout for you ?

Thanks @Kenneth Garrett and yea its a B-/C+ type neighborhood and I'm only trying to put the same type of upgrades in it, builders grade cabinets and counters, paint and flooring. Also thanks for zillow Rental Manager idea so i can save the 10% for management for the first few properties.

I have a deal where the numbers work and I was just wondering on a 1500 sqft 3/2 rehab, what is the average time it takes to rehab it ? Also what is the average time it takes a good management company to find a renter? I know it all varies on several different things but I was just wondering, since most calculators for rentals don't include holding cost.

Hoping to learn as much as possibile so I can build an amazing cash flow on a portfolio of properties. Considering Atlanta, Jacksonville,FL and Greensboro, NC