All Forum Posts by: Shain Ismailovski

I currently own a couple of lots in Palm Coast and was at a similar crossroads. After getting a few quotes from builders and crunching the numbers building just didn't make sense for me. For one, competition in Palm Coast is immense with new developments going up all the time. People are more attracted to these newer and often gated communities. The big builders in the area often dominate sales as well. Like others have mentioned the market is pretty soft. Rentals can sit vacant for months and selling sees similar results. I ultimately decided to hold on to my lots for a little while longer and let the value appreciate a bit more before selling. Holding costs are fairly low and all unsolicited offers have been higher than my purchase price. 

It depends, Lowes and Home Depot are usually the better go to spots. Walmart and Costco sometimes have better deals however. There are some who argue buying from smaller appliance retailers is better because should something break, the repair services and warranties they offer are better. I haven't used one myself, but just something to put on your radar. 

Cozy or Venmo/Paypal are probably the most popular options most landlords use and make a huge difference in making rent collection more efficient and streamlined. 

Hi Caleb -- Welcome to BP and good luck on your real estate journey!  BP is an awesome place to connect with and learn from your peers. A good way to connect is looking for any meet ups happening in your area.

Yes it is if the landlord allows corporate rentals. If you are partnered with anyone else for the LLC you would need their permission to rent property under it

Yes -- it's possible so long as the property is outright owned by your LLC. If you are looking to purchase your properties through the LLC as well you would only be able to utilize commercial loans.

A quick look online I didn't find many new developments at 2000, some were 1700-1800. It appears avg rent in the area falls between 1200-1350. So you may have people expecting lower rents as apposed to higher end units which could in turn increase your vacancy rates as you wait for those tenants to find you that are willing to pay the rent price. It's good that there other units renting out for that price in the area because it means you may be able to match our go higher. I would just check and follow up how long it took them to rent because you'd be paying expenses out of pocket while you wait.  

Hi -- welcome to BP! An awesome resource for sure, with lots of info and people to learn from. 

A tricky position for sure. The value of a good tenant is sometimes worth putting up with certain, lets call them "quirks", but those conditions are pretty tough. You will eventually need to deal with that mess either when the tenant leaves or passes on. I would present him with the option of you getting a professional cleaning company to come in and scrub the place down which you would cover, but the trade off would be you would need to raise rent to full market value going forward. If they don't go for it, fair enough but I would then offer a plan in which rent would be raised yearly. This will need to be dealt with eventually and having as much in your pocket to deal with it before it happens will help. I would not move to get rid of the tenant however, since they are non-problematic aside from this. 

Hey Jacob, welcome to BP. Congrats on getting your first place that's always the toughest one. BP is an awesome resource with helping you meet with like minded investors and learning more about the field. Check out the Network tab to see if there are any local meetups happening in your area. It's a great way to meet with people. Also if you haven't already sign up for any upcoming webinars that apply to what you want to do. Good luck on your real estate journey!