All Forum Posts by: Patrick Bavaro

@Michael Noto @Theresa Harris Excellent advice. Thank you both for taking the time!

@Mike Morawski @Tyler Weaver thank you both for your insight! This is new for me, and appreciate the perspective. We will just have to make It work! I’ll let you know what happens once’s it’s rented and we cross this bridge!

Mike, on a side note, that hotel bill.... OUCH!

My wife and I are finally taking the first step in our real estate journey in the form of house-hacking. We are near done, but have a whole house window project that is in motion to upgrade the 1970's windows in our primary Florida residence to a more efficient, hurricane impact window. We are at a place where the efficiency is complete (touchup clean-up, photos, listing, etc. to take place this weekend), but had our contractor over this morning to let us know the windows will be ready to be installed in 4-6 weeks. There are only 3 windows in the efficiency (the door is already impact), and the contractor expects 1-2 days for install of those 3 windows. 

The question is, being a soon to be new landord, how does one handle a possible situation like this where the room a future tenant will be in has the chance to be unoccupied for a full day, possibly two? The wife and I thought either getting them a hotel room, or offering a spare bedroom in the main part of the house would be acceptable. Are there any laws or concerns I should be aware of? Or is it better to just hold off until those windows are installed? An efficiency here in South Florida in the area we are living, on average collects between $700-$900/mo depending on recent upgrades. We are expecting to be within the $800-$900 range, and a two night stay in a hotel will put us out an estimated $400. That said, we look at this efficiency as extra money, not money that we absolutely need to pay the bills. 

Thanks for your time! 

I think the reality of the market won't set in for at least another few weeks. While I do not want to see an economic downturn, I can only imagine defaults on notes will begin happening come April and May with so many out of a job currently. At my w2 job, I work pretty closely with Medical Directors of some of the largest metropolitan EMS services across the country, one of which is my actual boss now. I still think things will get worse before they get better as infrastructure and healthcare becomes overwhelmed. Hopefully, I am wrong. 

Address: 63 Bird Ln Odenville, AL 35120 

ARV: 160k

Purchase: 70k

Rehab: 40k 

Rent: $1200/mo

I am an OOS investor who has not yet invested in Odenville. Is anyone familiar with the areA/market there? Looks slightly remote, and could be thinking long vacancy. 

Thank you in advance for your review! Please suggest edits or comments as you see them. 

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*This link comes directly from our calculators, based on information input by the member who posted.

@Beny Bini did you purchase?

@Joseph Back thanks for the input! I’ll send a DM.

@Andrew M Hawkins I live in Hollywood, and used my local agent Michael LaChance to secure my property. He does great work with investors and is a super communicative agent. A quick google search will find him for you. Feel free to DM me if you'd like his phone number, email, or website. You can tell him I sent you. 

@Jacob Sampson Sadly, I have the opposite situation with where I live here in Broward County. That said, I'm not one to complain about warm weather and the beach! Investing locally is a bit more challenging due to the competitive nature of the market and "deals" not really being deals. I got lucky on the property that I do own here locally. 

Maybe I should be looking into Topeka! ;P