All Forum Posts by: Peter S.

I'm an attorney and Central Florida investor. Thankfully, I can do my own evictions, but I dont seek past due rents- only possession of the property. Not really worth going after past due rents, as it just delays the preocess. I just get them out and move on. If you are only looking to get the tenant out, Florida has a summary proceeding. Last one I did in Brevard County took 45 days from filing to sheriff ejectment. 

Feel free to PM me if you have any questions. 

I'm in Miami, but have been investing in Central Florida for a few years. I come across good values all the time. But funny how lenders can put the brakes on many a venture. 

For those that dont want ownership interests, I always leave a standing offer out to friends and family. 10% interest for 18 months. Principal and Interest paid monthly. Beats the 2% they get from the bank or whatever abysmal rate the banks pay on a CD.

@Omer Sultan

Use 50% of gross rents before debt service. As simple as it sounds, it's the safest and easiest way to estimate. If somehow in two years, you're able to get it lower, then it's gravy.

I'd say 99% of new investors underestimate (including me when I started).

For the residential split, it should be apportioned by headcount. Not sure how you would count the commercial side, as I have no idea how much water a hair salon would use as opposed to a residential unit. But the overall bill is not too terrible, so I cant see any one tenant paying a disproportionate amount. 

Im in for any future meetups

You've come across the best site for real estate investing. Tons of professionals who can give you tons of advice for free. Just keep looking for partners, not "mentors."

The suit belongs in County Court, since it is less than 15k. Going to small claims court(a part of county court) is really the same, but you have a pre-trial conference which is good because it brings parties together in front of the judge. Many cases are settled at the pre-trial conferences, especially ones that are lower dollar amounts.  

Prep for the SAT and prepare for college. Get a degree. Worry about real estate in five years. 

Get your real estate license and network, network, network.