All Forum Posts by: Matt Jones

@DJ Snow it looks like you bought in Portofino.  I’m curious, how did you get out of it?  Most of those units typically sell quite a bit higher than $350k, did you sell the unit or?

@Dylan H. I think that SCRA is a federal thing and valid in all 50 states regardless of what is in your lease.  I'm not an expert but as a landlord in FL I've always honored it and believe that you have to.

@Chan Reagan google landlord/tenant and the county you lived in and I'm pretty sure you will come across some resources that can help, I know that would work in Pensacola.

@Sharlene Burch I bought my first rental just before I turned 30 which was just over four years ago and I crossed $4k cash flow with my last purchase. I changed careers shortly after and started selling real estate and I took almost two years to buy my second rental because I didn’t think I could get financing(I was wrong). You are definitely not too old to start, if you are diligent in your efforts you could hit your goal by the time you are 62, it beats the heck out of waiting on social security!

Pensacola is a great market for house hacking. Look for a 2-4 unit property and buy it FHA or VA(if you are eligible). Even a moderately priced single family house and renting rooms can act as a springboard for your financially. Since you are in the business be patient and wait for the right property to come along that you can buy with a low down payment but get a good enough deal that you still have solid equity.

The Professional Investors Guild (PIG) has our monthly meeting tonight at 7 p.m. at the bay center if you want to join.  I believe the topic is wholesaling.  I'm heading out of town tomorrow morning and will be gone for the rest of the week but if you want to get together and talk local real estate later this month just shoot me a message!  

Welcome @Nick Murray!  The Pensacola/Gulf Breeze markets are great for investing!  Are you looking to do more short term rentals or also get into long term rentals?  There are a couple local meet-ups if you want to meet other local investors and we have a pretty open and helpful group of investors in town if you ever need help with something!

@Monica Kennedy just sent you a message!

@Doug Spence

Are they willing to pay a premium to rent the home?  If so, there are probably a few key questions to ask but at the top of my mind would be "If they don't pay, how do you evict a company?" and "What rights do the individuals occupying the home have in that situation?"  I have been through the local eviction process with individuals but even my PM company has not been renting to other companies and I would consult an attorney before doing so just to be safe, that is what I recommend that you do.  

If they aren't going to rent the home for above market rents then I probably would not bother with the extra work.  Rentals in our market are going fast and I see no reason you couldn't find a qualified individual to rent the home.

Hey Jean,

It sounds like you would like to house hack. You have probably come across the term before but if not just search for it in the forums and you will see all kinds of information. A few things you may find helpful: with your VA loan you can purchase a 2-4 unit multifamily property and rent out the other units if you would rather have your own space than share a large house with multiple people. Also, you are much more likely to be able to use the rental income from the extra units in a 2-4 family property to help you qualify for a higher loan amount than if you were planning to rent out bedrooms in a large house. Welcome to Pensacola. If you have questions about your real estate test, local brokers or anything else feel free to reach out. Good luck!

@Chris Mendez

Absolutely, shoot me a PM!