All Forum Posts by: Korey Rademacher

Hey @Thomas C.

I have represented several buyers and sellers in this zip code. I assume you're at least somewhat familiar given your accurate take on Mayfair, Montclaire, ect. lol  But yes, there are still a lot of good areas in this zip code where you can rent to quality tenants. 

I have several rentals of my own. So if you have your eye on a particular property I can give you a pretty good idea as to what it will rent for. Let me know if you need an agent to assist. If you already have a Realtor I still don't mind chatting and giving you my own take on investment properties. Reach out if you need anything else!

Hey @Joe Bardinelli! I'm an investor/Realtor in the Pensacola area as well. You'll have to do some number crunching to see what makes the most sense for you regarding the student loan debt. In my opinion, it's better to start building the portfolio now rather than later to build up that rental income. But if your student debt is crazy high, it may make more sense to hold off a little while. 

Hey @Steve Jahn! Happy to help you if you're not already working with an agent in the Pensacola area. I invest in the area as well and would be happy to answer any questions you may have. Feel free to reach out. 

Good work, @Erica Osborn! I'll be implementing the BRRRR method in Pensacola in a couple weeks as well. It's the best form of investing, in my opinion. I've also used Cooper Electric on other properties as well. I love that I'm able to invest in my own backyard. Most don't have that luxury.

@Gina Ma I would have to agree with @William Allen in regards to the cap rate. I've owned 7 rental properties in Pensacola that have all done well and I couldn't tell you what the cap rate is on any of them. To each his own how you prefer to analyze rental properties though. With that said, one of my properties was in 32514 as well. It was located in the Lost Creek subdivision. If you don't already have an agent working for you I'd be happy to help. Good luck!

Hi LeAnna.

If you have an investor friendly real estate agent working with you, he or she should be able to put you in touch with some hard money lenders. If you don't have someone, I'm a real estate agent in the Pensacola area and can help you out. 

Yes, @Diane Krause I am a licensed agent. I guess I should probably indicate that on my profile page. I'll send you a private message and get your email to set you up on those alerts. 

@Diane Krause I would be happy to help you sort through properties on or near the beach to see if it's something that would work for you. I work with plenty of investors and most will (at some point) start looking at beach rentals. Which is when they quickly find out they don't cash flow as well as a traditional single family home or multi-family. However, it doesn't sound like that's necessarily your goal with this property. Off setting the vast majority of the cost by renting it out for most of the year is definitely a reasonable expectation. Since you're a Realtor, I'm sure you're well aware of the financing options you'll have with this property being your 2nd home as opposed to simply being an investment property. 

Let me know how I can help. I can simply set you up on a search for now so you can browse online. 

@Ralph Taylor In regards to the Escambia market, I can confirm that for a while it was at the absolute bottom as the poorest county in Florida. However, I believe that's actually made the middle class rental market so strong. Personally, I prefer to buy properties in the B class neighborhoods and it's worked out well. As of today, I'm not sure of Escambia's ranking but I'm pretty sure it's risen the last couple of years and only going to go higher, primarily due to Navy Federal Credit Union bringing in a lot of good jobs. Quite a bit of development downtown is also helping. 

Also, in regards to a CPA and/or tax preparerd, I highly recommend Jeff Heddy with Gulf Coast Tax. I like him because not only is he a licensed CPA and knows his stuff, but he is an investor as well so he knows the business from many angles, not just the tax perspective.

If you'd like to sit down and chat over a coffee and talk real estate, just let me know. We can set up a game plan and I can also get you on some buyers lists of wholesalers in the area. Feel free to add me on Facebook since it's usually easier to reach me on there. I'm not consistently active here on Bigger Pockets. 

Hey @Brian Knapp. Yes, in my opinion, the Pensacola market numbers are still looking good. I've accumulated 7 rental properties all with solid returns. At the moment, my entire portfolio consists of single family homes. Multi-family properties are a little harder to come by in our market. However, I actually prefer SFR anyway since the exit strategy is so easy. Downtown is going through a ton of changes. And then Beulah booming, obviously due to Navy Federal. Investing just outside of these areas is what I recommend to investors.