All Forum Posts by: Patrick Daniel

I agree with @Wesley W.  Real estate is already an extremely litigious realm with serious past accusations of discrimination, and a database like this would lead to a ton of lawsuits against anyone who built it and its customers I can imagine. 

Serious vetting/screening is an art form and is one of the things that can be a make or break point for a large number of landlords. There are services that charge a hefty fee for this, but can often be well worth it if the tenant stays and takes care of the place.

Best of luck!

@Deanna Boss It is great that you are not letting a bad experience end your landlord journey. There are a lot of great people here that give fantastic advice, and you can only control your side of forum posts. 

Most nitty-gritty things are best left up to your attorney, but experience and advice on where to find resources that can help are what this forum built for. Best of luck!

@Hsiu-Ping Peng, another option besides syndication is to be a private money lender for people who flip/buy and hold properties. The ROI can be great, and there is much less time needed to put into it. Additionally, the velocity of your money can be better and it doesn't constrain you to one location.

I am always looking for passive investors. I dream of the day that I can live fully in the I quadrant.

Best of luck.

If you are in need of a roofer, Call HE Roberts (They are out of Milton). They are the best price I have been able to find and have done a great job for our flips.

I would ask an agent to pull data on the bedrooms, square ft, and price range that sell fastest and closest to asking. I would split this into either zip code or sub-division so you can make the information as local as possible.

I am seeing that you are pre-paying insurance, but also making monthly escrow payments for your insurance as well? Also, why are you paying an Attorney fee and a closing fee? Unless the Attorney fee was for other doc review?

Hi Julie, I am an investor in Pensacola.  I would be happy to help if I can.  

I hate the "It Depends" answer, but it this question will certainly be answered this way unless you give parameters for what you are trying to get out of your investment.

Are you looking for high cash flow, appreciation, or a little of both? 

How much do you want to leverage, if at all?

Are your homes going to be newer where your Capital expenditures are lower?

Will you self-manage? If so, will you switch to professional management later?

are you paying utilities?

What are vacancy numbers in your target neighborhood?

These are all questions I would look at beyond the standard price vs rent question.

I would start with the end in mind first and find out what exactly your goal is for a property.

e.g. "I am looking for a 10% return on my money and at least $150 cash flow per door". 

Once you have your desired destination, you can work backward to where you need to be.

Look at the rental calculator here on the site and plug in some numbers to see how they change your outcomes. 

For example

 I would look at that for any location. Too much development anywhere will drive down prices, or cause a shift in neighborhood desireability. 

Hi Joshua! Welcome to BP! Starting out can be incredibly daunting, but luckily, there are a ton of people here, and likely in your local area that are willing to help if you are willing to help provide value! 

First, what type of investments are you interested in? Buy and Hold/Flip/wholesale? 

For trying to identify areas, it is good to understand a few basics: 

• Median home value to income ratio
• Population growth trends
• Industries that your local area's economy is dependant on?
• Crime statistics

Find a real estate agent that is investor friendly that will help you understand the market, and even more important, find investors that you want to emulate, and find a way to add value to their operation in return for them teaching you the ropes in your unique market.

I will leave tax liens for someone who is in your local area and knows how Georgia handles things.