All Forum Posts by: Rebecca K.

 Days on Market. Got it! Thanks, any luck with selling through Roofstock?

 DOM? 

 I'm doing it! Thanks, Joseph!

Southern Fidelity Insurance has just been liquidated and I was wondering if anyone has experience with good insurance companies or mortgage brokers representing Jacksonville, FL investment properties? Thank you

Please refer to this post:

"I just got off the phone with Gregg, and am feeling much better. I regret my earlier post and wished I would have waited. I am a beginning investor and didn't look at my overall return in investment or remember that vacancy and maintenance are accounted for in ROI. I am reminded of when I began the purchasing process and how I was uncomfortable with a certain situation, and how Mike walked me through the process and spent time clarifying things, making sure I understood. There was no rushing. Having a tenant move out a few months into the lease is unfortunate, uncomfortable, but is also a possibility. I am hopeful for the future with JWB, am appreciative of the time Gregg and Courtney have spent communicating things for me, and feel like they want to develop long-lasting relationships with their clients."

In addition, I have started picking up the phone more and having conversations with Rachelle (from JWB) when she calls. This allows me to know that JWB has collected rent if JWB is waiting on remaining payments, any outstanding maintenance issues or simply saying there aren't any, as well as updating me on upcoming lease renewals. This communication has given me greater peace with the process.

I am still calculating an ROI and will post when I finish. I wanted to add that during a time when my properties had recently transferred from JWB to another property management team, I began receiving calls from investors wanting to purchase one of my properties because it appeared vacant. I called JWB and Lauren advised me to call the utility company to see if service had been disconnected. It had been. When I called the other property management team, they hadn't collected rent in over a month and hadn't verified or discovered that the property was vacant. I am truly grateful to Lauren and JWB for this. They truly offer value that isn't even advertised. Thank you.

I will post a more detailed update once I have the time. I want to get all the facts straight. Thanks for your patience. 

That's awesome, Gio. I have always been interested in a MFH and in Missouri. I hope it goes well for you. 

Hello all. I wanted to post an update as much has happened since my last posting. Real estate investing is a new endeavor for me and with new things, comes learning curves and growing pains. Unlike my stocks, I kept a constant watch on my rental homes in Jacksonville. While it's good to be aware, this created a lot of unneeded stress. Additionally, I am not relying on my stock income for immediate use but I was with my real estate investments.  
These two factors contributed to a stressful investing experience that had nothing to do with Jacksonville Wealth Builders, (JWB). Currently, I'm trying to have patience and resist the urge to immediately take action because sometimes you have to wait (vacancy).
There are a few things I would like to clear up. Luckily, JWB took a larger security deposit which covered the turnover costs when my first tenants unexpectedly moved out due to the death of a family member. There was about $400 left from that security deposit. JWB planned on using that remaining balance from the security deposit to cover the next tenant placement fee (instead of collecting the first month's rent). This coverage would pay for marketing the vacant home. I wanted that money ASAP as I wasn't receiving any income while the unit was vacant. JWB ended up giving me the $400 and DID NOT charge me an additional tenant fee (which would have been almost $1,400).
I have another issue to clear up involving property taxes. JWB tries to accurately forecast how much the property taxes will be once the property is in your name. Mortgage banks pull money from your escrow based on prior year's tax value (which in my case was a value before the house was built). My monthly mortgage increased when the bank had not pulled enough money to cover the escrow shortage. There is not much control JWB has over this. JWB's estimation ($2,200) came quite close to the updated tax amount ($2,247.69). JWB ended up paying me the difference.
There are a lot of things JWB does that they do not advertise. Their motto is to under-promise and over-deliver. They have excellent customer service and I know all of their team (so far I've worked with Brian, Victoria, Lauren, Reagan, Rachelle, and Gregg) is constantly watching everyone's investments and making sure they get as close to the ROI as promised. That's one of the reasons I'm back with them as a property management team.

Thank you @Michelle Villasenor. Am looking for a new property management company for my two properties in Memphis and have reached out to Memphis Turnkey. Thanks!

Thanks, Jay. It's definitely a lesson learned.