All Forum Posts by: Korey Rademacher

Hey Ralph! I'm in Pensacola and am an investor myself. Have done mostly buy and hold properties for now but am looking to do a few flips this year as well. What kind of investing are you looking to get into? I'm an investor first but am also a licensed real estate agent as well if you need anyone. Let me know if there's anything I can do to help you get your first deal. 

Hey Mike,

I've an investor/Realtor in the Gulf Coast area as well. The numbers definitely work in our part of the woods as opposed to other parts of the country. I've got 7 buy and hold rentals. Every time I buy one with the intention of flipping, I end up hanging onto it. But I actually may pursue one here shortly. Feel free to add me on Facebook since I'm kind of hit or miss here on Bigger Pockets. I wouldn't mind at all showing you how I built my passive income. Good luck!

Hey @Kelly Kuhlow, welcome to the Gulf Coast! The first thing I'd recommend you do since you're new to that area is to start building out your network of people. A good way to do that would be go join us at the PIG meeting (Professional Investors Guild) tomorrow night in Pensacola at the Bay Center. At the guild there's a pretty diverse group where some people are flippers, some people just lend out money to the hustlers, others are buy and hold investors like myself. Anything real estate related, you'll find in this group. We meet as a group once a month and it's a pretty cheap membership. But your first time is free, so if you want to check out, let me know and you can be my guest. 

Welcome aboard, Omar. Arianna is right, the Professional Investors Guild is a great place to learn a bunch. I'd be more than happy to help you out with any questions you may have about our market or finding your first rental property. Don't hesitate to reach out and ask. 

I'm a Realtor but also an investor in the Pensacola area. I currently have 7 rental properties and they have been very nice cash cows for me. Navy Federal Credit Union is hiring like crazy and will continue to do so over the next 5-10 years. They're located in the Northeast part of Pensacola so that area (or Cantonment) does get much more stable. Plenty of other pockets in Pensacola make for good rentals as well as Pace and Gulf Breeze. Let me know if there's anyway I can help. 

Welcome Zach! You've come to the right place to learn a ton. I've got a handful of rentals as well so I completely understand your goal. Reach out to me if you have any questions on getting your portfilio built. Also, random question, do you happen to be related to Jim Falbo? I went to PCC with him a while back.   

Jayson,

I have a handful of rental properties with a full time job as well. I just wanted to point out one major risk you're opening yourself up to.

When you intermingle your personal funds with your investment property funds you open up all your money to potential law suites. In other words, if something happens to your tenant and they decide to sue you, they can go after all your personal assets since there was never a distinction between the two in the first place. 

You may also consider forming an LLC if you haven't already done so for protection, but even then, you still want to make sure your rental properties income and expenses are completely separate from your personal finances.

Plus, doing this helps you to better analyze how your rentals are really performing. Lastly, as someone mentioned above, doing your taxes will be much easier if you keep it all separate. You don't want to cut yourself short on any of those tax deductions. Hope that helps!

Hello Rahul,

There are a lot of property managers in the Pensacola/Milton/Cantonment area but there is only one that I would actually recommend. I would reach out to Brock Property Management. 

I have several buy and hold properties myself. As of right now, I manage them all myself. However, once I reach the point where I don't want to manage them anymore, I will be using Brock Properties.  

Hey Christopher! Welcome to BP!  I'm not sure if you're in the Pensacola area yet, but if you are, you should think about joining the investment group, PIG. Stands for Professional Investors Guild and @Matt Robinson runs it. We typically meet the second Tuesday of each month. However, June was out of the ordinary and we just met last night. 

Since you're a buy and hold investor, you missed a good one last night since we had a lawyer come in and discuss landlord/tenant law. It's a good place to network and pick up off market properties. 

Hey Charles, 

Reach out to @William Allen. He's got the experience and integrity you're looking for.