All Forum Posts by: Marelyn Valdes

I am also in Ocala (moved from Tampa in 2003) and I buy SFH's and MH's only. They are responsible for their own lawn maintenance, garbage, all utilities, and bugs (rodents are landlord's responsibility). They are not fighting with neighbors with shared walls and I don't have to intervene. If I need fast cash for any reason, I can sell a SFH in 60 days at most, while a multi-family may take longer. Most people prefer renting a detached house to a multifamily and pay more per month for the same sized property. I just got a MH under contract for $25,000 on a 1/4 acre lot with the additional lot next door. It needs rehab, but will easily rent for a minimum of $650 - $700 a month (2/2) and I have the extra lot being listed for sale as soon as I close on the property.

File the eviction immediately and pay for a process server (NOT the sheriff) and pay for personal service.  They are much faster than the sheriff and you can only get a money judgement with personal service in Florida.  It's no more expensive to evict and ask for a money judgement at the same time in the same lawsuit.  In addition, it's part of the permanent record of the tenant(s).  You may never get your money back, but if you do get a money judgement file a certified copy with the clerk of court in that county and any other county where they move.  I have had the judgment paid off (with very high interest added) when a tenant went to buy a home or win a lawsuit years later.  Most go unpaid.

Florida Credit Union has been easy to work with getting mortgages in Ocala.  My daughter is refinancing her home and using Mike Zysec at FLCU
https://www.flcu.org/Personal/Borrow/Mortgages/Apply-for-a-Mortgage

You need to look at fixer uppers instead of ready to rent and put in some sweat equity.  I am in Ocala and just bought a DW MH on 1/4 acre lot (not in a park) for $35,000.  With a few repairs and upgrades, it would easily rent for $900 a month (I am flipping since it would sell for $76,000). 

Ocala is getting a huge new marijuana grow and distribution center for medical marijuana.  It's an old conversion van warehouse next to I-75.  

https://www.ocala-news.com/2019/11/20/floridas-largest-medicinal-marijuana-processing-facility-coming-to-ocala/

I live and invest in the Ocala area and am constantly on the lookout for what you are trying to find and my search is up to $50,000 - 60,000 and those are hard to find and snapped up as soon as they are available and I am buying for cash.  You can pull an owner occupant permit for a lot of things in my county, but you can't sell the property for a year.  If you find something it could be your vacation home that you later decided to rent.  Even in the range I am searching it's going to be a C area at best.  Rents are high in Ocala and there are plenty of people searching for homes.  I do not accept Section 8 and most of those are in D areas.  There are currently a couple of 2/1 block homes in a D- area for $30,000 and I won't even go look at them.  If I don't feel safe going by myself to collect rent I am not interested in owning it.  They would also only bring in $700 a month at the most, so not worth it for me.

You can only demand the rent, not any other charges on a 3 day notice in Florida.  If I have a tenant I feel uncomfortable confronting, I just have a friend go by and give them the notice or post it on the front door if they don't answer or aren't at home.  Mailing gives them a lot more time.  I also hire a private process server for the 5 day notice from the court and request personal service so I can get a money judgement in addition to the writ of possession.

Welcome to the forum and to investing in Ocala!

The landlord has to abide by the terms of the lease and so would the new owners.  He also has to give you 24 hours notice of a showing.  You could cook cabbage or fish frequently so the place stinks but is still clean - a real turnoff for a buyer who plans to live in the house, but not for a investor.

I invest in 34479 and 34482, but everything in a zip code may not be the same.  34479 near the Publix and along 25th Ave. seems to be very desirable.  There are huge warehouses on 35th St. next to the interstate (Chewy, Fed Ex hub, Autozone, and another warehouse being built currently).  It's really best to drive past places on the weekends when people are home to get a feel for the properties you are considering.