All Forum Posts by: Tchaka Owen

Hi @Cindy Joseph, I am a licensed agent in Brevard and it is tough to predict what will happen in the future. Most markets in the US have transitioned from extreme sellers markets to more balanced ones. Brevard is no different. However, where Brevard may have a leg up on many places is the booming space industry. SpaceX, Blue Origin,etc are strong in the area as well as other firms that may support them such as Northrup Grumman, Harris and more. Also, this market did not appreciate to the extent that others such as S.Florida did. Will there be continued adjustment? Likely. However, I wouldn't suggest waiting it out like 2007-2009 (to be fair, this area got hit extra hard around 2012) as that's not likely to happen. Also, multi-units aren't as prevalent here as in other areas. Yes, they exist, just not everywhere. This is more of a SFH county. Please feel free to reach out with any questions you might have.

Quote from @Jacob Messer:

@Tchaka Owen firstly thanks so much for your kind words. We all really work together to make this happen. 

To your other point, i would say it depends on what you value. If you source a good deal, get it done and receive the correct return that’s good. 

but what made this deal especially great was how simple was. No hang ups, no weird stuff, just in and out. 

if I’m an investor, I can make $33k the hard way or the easy way. I think everyone can agree that even though it’s still $33k in both instances, the easy way is preferred 10 times out of 10. 

That said, I have nothing but good things to say about Mainstay! Even though I'm not in the Naptown market anymore I've maintained contact with them because they are above-board. They've put together a nice operation, are very smart about how they do business and I wouldn't hesitate to recommend them.  

Spot on, Jacob!!! 
Why make $33k the hard way? Very happy for you that it was simple. More such stories, please!

Quote from @Bruce Woodruff:

If you've spent any time in Sweden, you'll know that Ohio has a far more temperate clime.

Re Socialism - that's just your opinion. They are actually a Socialist Democracy, (meaning that they get to vote for which Socialist takes their money :-) but one thing is sure...taxes are sky high - 62% of personal income. Their attempt to take on true Socialism failed miserably in the '70s and '80s. 

Thank you for your input. My degree in Foreign Affairs says that Sweden isn't actually a Socialist Democracy. As mentioned earlier, there's a social net for the people, however it has a strong business culture that's much more in line with our market system. Their top tax rate (which isn't as high as 62%) is actually marginal; most citizens pay an income tax rate closer to 30%. Check yearly climates of Stockholm and Malmo next to Cleveland and Columbus - they're not far apart. Lastly, Scandinavians being amongst the happiest isn't my opinion. It's the results of perennial research. 

@Sebastian Warg writes, "I also want to have kinda nice weather since Sweden is like living in a refrigerator" yet people are recommending Ohio. Really? Are you looking out for him or for yourselves? 

Sebastian, you're going to want to look at the mid-Atlantic, ie, Maryland, Virginia, North Carolina...maybe across parts of Georgia. Perhaps Arkansas. North gets cold, ie, Sweden. South where I am (Florida) is hotter than most like. Same can be said for parts of Texas and Arizona. 

Something to think about: the Swedish "socialism" is more of a safety net as opposed to true socialism, which is why Scandinavians are amongst the happiest people in the world. My numerous friends in Sweden have never complained. So be aware. And good luck!

@Jacob Messer - there's one area in which we are going to disagree: IMO, this is a solid deal, however I do not agree that the investor made out like a bandit. The numbers are exactly as needed, ie, when all is said and done, the investor should net around $33k (give or take). That's not making out like a bandit, however it's a very nice deal.

That said, I have nothing but good things to say about Mainstay! Even though I'm not in the Naptown market anymore I've maintained contact with them because they are above-board. They've put together a nice operation, are very smart about how they do business and I wouldn't hesitate to recommend them.  

I agree with the comments about the private equity firms and of Crowdstreet given your amount of available cash. For example, I'm in the Space Coast and we have solid deals available that will give you decent returns over time - particularly with the booming space industry and tech firms. And while you can do well buying 10 SFHs here, is that better than leveraging into a much larger multi-unit elsewhere? I'd say no. Better the earlier options or if you're comfortable enough, pick up a 100+ unit and improve it.

Lastly, @Perry L. is correct about cash. Perhaps the best option is to research over the next few months as markets figure themselves out. 
Good luck!

Hey Genevie,

I'm showing property in Palm Bay this Thursday afternoon to a gentleman seeking an investment property. If the numbers are right, I'll add it to our showings.

Also, while professional pics are preferred (I use them on most listings), the biggest issues with the pics you have are 1) too many closeups, ie, it's better to see the whole kitchen than a closeup of the stove or of the sink; 2) either the photographer crouched down or is 3ft tall. More pics from a higher vantage point, please.....say 5'2" to 6".

Quote from @Nathan Gesner:

 I think you get more traction working on the people that already know, like, and trust you. Build a list of 50 people that you know would refer business to you. Contact them each at least once a month, preferably in person. Just work on the relationship for three months with no business talk. After the third month, end the call by asking if they know anyone that may be buying/selling in the near future and ask them for a referral. Repeat for the remaining months. At the end of the year, you should have at least one referral from each of your contacts. 

I agree with this bit from Nathan! The only mod I'd make is that when it comes to the friends that you are closer with and in more regular contact with, you can go ahead and ask if they know anyone that may be buying or selling in the near future. Those relationships don't need nurturing like the 'acquaintance' ones. But definitely solid advice here!

  

You are a KW agent - which is great for beginners as their training is tops. Take advantage of everything your office has to offer including Bold, 4:4:3, etc. Also, go to open houses and get a feel for what's on the market and meet agents.

Quote from @Genevie Reyes:

Quote from @Tchaka Owen:

Curious....what is the reason you're with KW Brevard if you're an Orlando agent? Also, be aware that the realtor assocation(s) in Orlando use a different MLS than Space Coast Assoc. of Realtors, which covers Brevard only.

That said, one must is that you take advantage of what KW has to offer. Ie, BOLD, etc. Do go to the weekly, monthly, quarterly meetings and be a sponge. Learn as much as you can. 

 Hi!

Thank you for your response. I accidently did Orlando as my location, this week I have been planning to move to Orlando. So it has been sticking to my mind, but I am located in Melbourne, Florida. Sorry about the confusion. 

If you move, you'll want a local KW office because going in frequently as a newbie is critical. Once you feel comfortable, it's less of an issue. If your office is the one off Wickham, I know a few people there - good peeps!