All Forum Posts by: Jack Bobeck

@Mark Sewell why so down on Mentors? Everycould use someone else’s experience instead of making the same painful and costly mistakes. Most good mentors cost nothing but a cup of coffee. After all words cost nothing, the mentor gives advice, at the end of the day you still have to do the work. Good mentors that invest in notes, deeds, mobile homes, SFHs, MFHs are worth the investment of time. Partnerships are garbage, they never work out in the long run, as people’s priorities change.

@HAILEY ERSKINE Good for you, get the ducks in the row, start collecting 1) realtor, 2) real estate attorney, 3) cheap title search, 4) CPA, 5) Contractors (handymen, electricians, plumbers, roofers), 6) Insurance. 

Build a list of all the people that can help you, and also start interviewing MENTORS, who have made the mistakes already so that you do not repeat them! 

If you cannot find a deal in Jacksonville, look an hour south to Orlando...

With tourism and hospitality as its main economic drivers and backed by unprecedented population and employment growth, Orlando’s multifamily market is thriving.

The metro added almost 47,000 jobs in the 12 months ending in May 2018, keeping Orlando well above the U.S. average. With a record-breaking number of visitors last year, employment gains were highest in leisure and hospitality, the sector gaining 10,600 jobs. 

Orlando’s year-round temperate weather, coupled with no state income taxes, continues to entice both domestic and foreign investors. A $2.1 billion airport expansion is underway, with more than 500 workers on site daily. The new terminal is scheduled for completion in 2021 and will increase the capacity of the state’s busiest airport to more than 50 million yearly passengers. (The busiest, Hartsfield-Jackson sees 104 million a year).

With such growth, look for Orlando to be a great location for people to move to and maybe your investment portfolio too...

@HAILEY ERSKINE Wait, keep looking, run your numbers, rates are rising, foreclosures will rise with them. There is a glut of homes on the market now in most areas and in my area, all homes over 150k have been sitting longer and longer. By 2020, its going to be a GREAT BUYERS market. 

Run your numbers, look at 100 properties to make 10 offers to get 1 accepted. Know your local market and own it! No rush to make mistakes, its how you lose your investment. Best of luck to you! 

@Elenis Camargo I do not care if you add pest control or not, people in rentals are still going to live the way they were raised. In every property I have ever owned, people leave out food and it attracts ants. How do you tell people in a lease to not be SO STUPID and put up their food or clean up their messes? You cannot. People are renting for a reason, don't try and get them to be "better" people, they will never change. 

I put a clause in that states they are on the hook for the first $50 of any contractor fee, so they can call the pest control or other, but they are on the hook for part of the expense. They made the mess, they need to be responsible for cleaning it up. In every property once the food was removed and property cleaned, rodents and bugs went away......amazing how that works! 

@Jason Collins I have used the fine folks at Secured Lending, they are located in Winter Park, FL. Ive used them twice and they were great both times. 

So thankful to see that #Jacksonville is cooling off for investors. 

1. Boston
2. Seattle
3. Denver
4. Austin
5. New York-Brooklyn
6. Nashville

All seem to be the really hot markets.

#Jacksonville a tepid 55 on the list. Thankfully! 

@Collin Schwartz Great post! I would recommend to all that they build a STRONG relationship with a Realtor/Broker or several Realtors, because 

• 2.Downloaded a list of multi family owners from Listsource.com - You can get this from a Broker who can run a list of non-owner occupied properties, this features the number of beds and baths and from which you can build a mailer and network. 
• 3. You can use Spokeo for cheap to lookup owner's numbers. 6 deals out of 191 was extremely good! 
• 6. - Find a mentor in MFH. I have one in NE FLorida, he used to own 300 doors, I call him and run my deals by him, I am hoping to get smarter about deals and have him point out items to me SO THAT he can manage them for me, he manages 20 doors now instead of owning. Find people who have already trudged through the mud, so you don't have to do so. 

@Account Closed You got an update for 10/11? Dow down 545 more points. Lots of fear in the market. I bought some $SDS to protect me and am up 6.5% over the last 2 days buying the inverse of the market.  Its all about CYA.

All real estate is local. What is happening in Paradise Valley AZ is different than what I am seeing in Jacksonville, FL, so I am not worried about my properties. Good investors make money in all kinds of markets. Its the weak hands that end up losing. So stay strong! 

Here is another great resource for researching your zip codes....

32218 has a median income of almost $52k, median age is 36 years old. Very conservative people live in the zip code.